Stochastic Optimal Control and the U.S. Financial Debt Crisis
| Author | : | |
| Rating | : | 4.20 (538 Votes) |
| Asin | : | 146143078X |
| Format Type | : | paperback |
| Number of Pages | : | 160 Pages |
| Publish Date | : | 2016-08-04 |
| Language | : | English |
DESCRIPTION:
… this book serves well as a ‘handbook of selected financial crises’ for those who want to understand better the two recent big crises, the 2008 U.S. … the book should also be read by policy makers.” (Peter Clark, Kredit und Kapital, Vol. 45 (2), 2012). mortgage market, as well as on the European financial crisis. This makes each chapter individually readable … .” (Youngna Choi, Mathematical Reviews, March, 2013)“Stein has written a timely book on the financial crisis emanating from the collapse of the U.S. Each chapter has its own abs
Stein has been an emeritus professor of economics at Brown University since 1993, and has served as a visiting professor of applied mathematics since 1997. He is the author of nine research monographs, and has published over 100 journal articles in such leading publications as American Economic Review, Review of Economics and St
financial crisis, and offers a detailed framework depicting why such a methodology is best suited for reducing financial risk and addressing key regulatory issues. Topics discussed include the inadequacies of the current approaches underlying financial regulations, the use of SOC to explain debt crises and superiority over existing approaches to regulation, and the domestic and international applications of SOC to financial crises. Principles in this book will appeal to economists, mathematicians, and researchers interested in the U.S. Financial Debt Crisis analyzes SOC in relation to the 2008 U.S. financial debt crisis and optimal risk management.. Stochastic Optimal Control (SOC)a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynamic process under uncertaintyhas proven incredibly helpful to understanding and predicting debt crises and evaluating proposed financial regulation an
peter clark cato/Kredit und Kapital review of J.L. Stein hadassah Peter Clark (IMF, ret.) Review of Jerome Stein's Stochastic Optimal Control and the U.S. Financial Debt CrisisKredit & Kapital, No. 2 2012CATO Journal,Spring/Summer 2012.Peter Clark, Chevy Chase, MarylandAt one point during the recent financial crisis the Queen of England reportedlyasked economists at the London School of Economics a seemingly straightforwardquestion: Why did academic economists fail to foresee the crisis?1 This question can bebroadened to include central banks, the IMF, and t. Carlo D'Adda said Rational debt policy. This book by Gerome Stein is really remarkable not only for being the most recent fruit of the restless research activity of a great scholar, but also for offering a smart setup in which the post debt crises economic policy discussions should take place. On both sides of the Atlantic it seems today that the unique virtue of governments is balancing public budgets. This book suggests a rational approach to economic policy. Growth and employment are the objectives of a sensible policy, whereas g. A brilliant idea kunz Stochastic Optimal Control and the U.S. Financial Debt CrisisThere are many books on stochastic optimal control and many more (too many, I would say) on the debt crisis, but this is the first (and, for the moment, the only one) book that applies stochastic optimal control to the crisis. As all truly brilliant ideas, the idea at the basis of this book is simple, and can be understood by both mathematicians and economists. This book is a must for both categories.