Listen to Coronavirus Patient Zero
Written by a physicist with extensive experience as a quant on Wall Street, this book treats a wide variety of topics. Presenting the theory and practice of quantitative finance and risk, it delves into the "how to" and "what it's like" aspects not covered in textbooks or research papers. A "Technical Index" indicates the mathematical level for each chapter.This second edition includes some new, expanded, and wide-ranging considerations for risk management: climate change and its long-term systemic financial risk; markets in crisis - new crisis prediction technique and the Reggeon field theory; new "Smart Monte Carlo" and American Monte Carlo; trend risk - time scales and risk, the Macro-Micro model, and singular spectrum analysis; credit risk: counterparty risk, wrong way risk, issuer risk, and regulations; stressed correlations - new "nearest neighbor" techniques; and psychology and option models.Solid risk management topics from the first edition and valid today are included: standard/advanced theory and practice in fixed income, equities, and FX; quantitative finance and risk management - traditional/exotic derivatives, fat tails, stressed VAR, model risk, numerical techniques, deals/portfolios, systems, data, economic capital, and function toolkit; risk lab - the nuts and bolts of risk management from the desk to the enterprise; case studies of deals; Feynman path integrals, Green functions, and options; and "Life as a Quant" - communication issues, sociology, stories, and advice.
A fire sale of US debt could cause a global recession through disorderly devaluation of the dollar, raising interest rates and crashing stock markets. The G7 doctrine of shared responsibility intends to coordinate regional efforts. This book analyzes the main issues and individual regions, including China, Japan, the EU and the USA.
Europe witnessed in the last years a number of significant power contingencies. Some of them revealed the potentiality of vast impact on the welfare of society and triggered pressing questions on the reliability of electric power systems. Society has incorporated electricity as an inherent component, indispensable for achieving the expected level of quality of life. Therefore, any impingement on the continuity of the electricity service would be able to distress society as a whole, affecting individuals, social and economic activities, other infrastructures and essential government functions. It would be possible to hypothesize that in extreme situations this could even upset national security.
This book explores the potential risks and vulnerabilities of the European electricity infrastructure, other infrastructures and our society as whole increasingly depend on. The work was initiated by the need to verify the potential effects of the ongoing market and technical transformation of the infrastructure, which is fundamentally changing its operation and performance. The final aim is to set the basis for an appropriate industrial and political European-wide response to the risk challenges.
The last words Noah heard as he turned off the radio were, "The market. The market." Noah wasn't sure if it were the words or the radio guy's repetition that made him think of the children's rhyme, "To market, to market, to buy a fat pig;" "That's it," he said, although the only one there to hear was his dog George. "George, we are going to the market, just like in the children's rhyme. We may not buy a fat pig, but we are going to find out what went wrong." ##### What if all of economics is based on a mistake? What if markets do not exist? What if supply and demand do not exist? What if the only thing that is real is the damage the market idea caused and continues to cause to individuals, businesses, investments, and the economy? By showing all that, and more, this little book overthrows centuries of economic thinking based on the false market idea and replaces it with something better-economic facts anyone can see and understand and use."
Unlike many existing books on toxicology that cover either toxicity of a particular substance or toxicity of chemicals on particular organ systems, Toxicological Risk Assessment of Chemicals: A Practical Guide lays out the principle activities of conducting a toxicological risk assessment, including international approaches and methods for the risk assessment of chemical substances. It illustrates each step in the process: hazard identification, a dose response assessment, and exposure assessment. The book also summarizes the basic concepts of interaction of chemicals in mixtures and discusses various approaches to testing such mixtures.
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