Economic Capital

Economic Capital
Author: Pieter Klaassen,Idzard van Eeghen
Publsiher: Elsevier
Total Pages: 304
Release: 2009-05-28
ISBN 10: 9780080956800
ISBN 13: 0080956807
Language: EN, FR, DE, ES & NL

Economic Capital Book Review:

Managers can deploy and manage economic capital more effectively when they understand how their decisions add value to their organizations. Economic Capital: How It Works and What Every Manager Needs to Know presents new ways to define, measure, and implement management strategies by using recent examples, many from the sub-prime crisis. The authors also discuss the role of economic capital within the broader context of management responsibilities and activities as well as its relation to other risk management tools that are available to the modern risk manager. Explains ways to use economic capital in balancing risk and return Evaluates solutions to problems encountered in establishing an economic capital framework Emphasizes intuition Draws special attention to embedding risk modelling approaches within economic capital frameworks

Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates

Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates
Author: B. Porteous,P. Tapadar
Publsiher: Springer
Total Pages: 325
Release: 2005-12-19
ISBN 10: 0230512704
ISBN 13: 9780230512702
Language: EN, FR, DE, ES & NL

Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates Book Review:

The authors present a comprehensive and timely discussion of economic capital and financial risk management for financial services firms and conglomerates. Topics covered include: the different types of risks that firms collect; risk governance issues; how stress testing can be used to measure risk; the provision of a clear and precise definition of economic capital; the different types of capital that are eligible to back regulatory capital, and; the development of models that can be used to estimate a firm's economic capital requirements. A unique feature of the book is that, for the first time, the economic capital requirements of financial services firms across the entire risk spectrum, from the short end to the long end, are considered in one book. The authors develop models to estimate the economic capital requirements of banks, asset management firms, life and non-life insurance firms, pension funds, and the financial services conglomerates that comprise these firms. Economic capital is compared to regulatory capital and regulatory capital arbitrage is discussed. The diversification benefit present in financial services conglomerates is quantified and the practical management of this diversification benefit is dealt with. The authors give new insights into capital management and performance measurement for financial services conglomerates and provide detailed descriptions of the main financial services firm regulatory capital changes that are ongoing at the time of writing. This superb and original book charts new ground in the practical application of economic capital for financial services firms and conglomerates. It is required reading for all capital allocation and risk professionals.

International Convergence of Capital Measurement and Capital Standards

International Convergence of Capital Measurement and Capital Standards
Author: Anonim
Publsiher: Lulu.com
Total Pages: 239
Release: 2004
ISBN 10: 9291316695
ISBN 13: 9789291316694
Language: EN, FR, DE, ES & NL

International Convergence of Capital Measurement and Capital Standards Book Review:

Capital in the Twenty First Century

Capital in the Twenty First Century
Author: Thomas Piketty
Publsiher: Harvard University Press
Total Pages: 816
Release: 2017-08-14
ISBN 10: 0674979850
ISBN 13: 9780674979857
Language: EN, FR, DE, ES & NL

Capital in the Twenty First Century Book Review:

The main driver of inequality—returns on capital that exceed the rate of economic growth—is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty’s findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality.

The Political Economy of Capital Cities

The Political Economy of Capital Cities
Author: Heike Mayer,Fritz Sager,David Kaufmann,Martin Warland
Publsiher: Routledge
Total Pages: 182
Release: 2017-09-11
ISBN 10: 1134795785
ISBN 13: 9781134795789
Language: EN, FR, DE, ES & NL

The Political Economy of Capital Cities Book Review:

Capital cities that are not the dominant economic centers of their nations – so-called ‘secondary capital cities’ (SCCs) – tend to be overlooked in the fields of economic geography and political science. Yet, capital cities play an important role in shaping the political, economic, social and cultural identity of a nation. As the seat of power and decision-making, capital cities represent a nation’s identity not only through their symbolic architecture but also through their economies and through the ways in which they position themselves in national urban networks. The Political Economy of Capital Cities aims to address this gap by presenting the dynamics that influence policy and economic development in four in-depth case studies examining the SCCs of Bern, Ottawa, The Hague and Washington, D.C. In contrast to traditional accounts of capital cities, this book conceptualizes the modern national capital as an innovation-driven economy influenced by national, local and regional actors. Nationally, overarching trends in the direction of outsourcing and tertiarization of the public-sector influence the fate of capital cities. Regional policymakers in all four of the highlighted cities leverage the presence of national government agencies and stimulate the economy by way of various locational policy strategies. While accounting for their secondary status, this book illustrates how capital-city actors such as firms, national, regional and local governments, policymakers and planning practitioners are keenly aware of the unique status of their city. The conclusion provides practical recommendations for policymakers in SCCs and highlights ways in which they can help to promote economic development.

The Knowledge Capital of Nations

The Knowledge Capital of Nations
Author: Eric A. Hanushek,Ludger Woessmann
Publsiher: MIT Press
Total Pages: 280
Release: 2015-04-10
ISBN 10: 0262029170
ISBN 13: 9780262029179
Language: EN, FR, DE, ES & NL

The Knowledge Capital of Nations Book Review:

A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.

Capitalism without Capital

Capitalism without Capital
Author: Jonathan Haskel,Stian Westlake
Publsiher: Princeton University Press
Total Pages: 296
Release: 2018-10-16
ISBN 10: 0691183295
ISBN 13: 9780691183299
Language: EN, FR, DE, ES & NL

Capitalism without Capital Book Review:

Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Aligning the Economic Capital of Model Risk with the Strategic Objectives of an Enterprise

Aligning the Economic Capital of Model Risk with the Strategic Objectives of an Enterprise
Author: Hopolang Phillip Mashele
Publsiher: Unknown
Total Pages: 200
Release: 2015
ISBN 10: 1928374650XXX
ISBN 13: OCLC:953790858
Language: EN, FR, DE, ES & NL

Aligning the Economic Capital of Model Risk with the Strategic Objectives of an Enterprise Book Review:

Uncertainties -- Enterprise risk management -- Model risk management -- Credit risk management -- Market risk management -- Operational risk management -- Regulatory capital -- Economic capital -- Value-at-risk -- Expected shortfall -- Copula -- Strategic management.

Managing Economic and Virtual Economic Capital Within Financial Conglomerates

Managing Economic and Virtual Economic Capital Within Financial Conglomerates
Author: Marc J. Goovaerts,Eddy Van den Borre,Roger J. A. Laeven
Publsiher: Unknown
Total Pages: 16
Release: 2003
ISBN 10: 1928374650XXX
ISBN 13: OCLC:249870897
Language: EN, FR, DE, ES & NL

Managing Economic and Virtual Economic Capital Within Financial Conglomerates Book Review:

Managing Portfolio Credit Risk in Banks An Indian Perspective

Managing Portfolio Credit Risk in Banks  An Indian Perspective
Author: Arindam Bandyopadhyay
Publsiher: Cambridge University Press
Total Pages: 390
Release: 2016-03-31
ISBN 10: 110714647X
ISBN 13: 9781107146471
Language: EN, FR, DE, ES & NL

Managing Portfolio Credit Risk in Banks An Indian Perspective Book Review:

This book explains how a proper credit risk management framework enables banks to identify, assess and manage the risk proactively.

Economic Capital Modelling

Economic Capital Modelling
Author: Iman van Lelyveld
Publsiher: Bloomberg Press
Total Pages: 202
Release: 2006-01-01
ISBN 10: 9781904339397
ISBN 13: 1904339395
Language: EN, FR, DE, ES & NL

Economic Capital Modelling Book Review:

Playing a key role in both the second pillar of the new Basel framework and the Solvency II project, economic capital models are becoming increasingly important. Economic Capital Modelling provides you with a multi-faceted overview of the current state of play for these cutting edge models. Presenting a theoretical overview of risk measurement, diversification and aggregation; a survey of the current state of implementation; and a supervisory view on the use of these models.

The Economic Ideas of Marx s Capital

The Economic Ideas of Marx s Capital
Author: Ludo Cuyvers
Publsiher: Taylor & Francis
Total Pages: 322
Release: 2016-09-13
ISBN 10: 1317381831
ISBN 13: 9781317381839
Language: EN, FR, DE, ES & NL

The Economic Ideas of Marx s Capital Book Review:

Nearly two hundred years have passed since the birth of Karl Marx and continuing to this day the influence of his economic views, insights and theories can still be felt. However, since the publication of Das Kapital, the scientific community has not been sitting idle – it is time to evaluate Marx as an economist and explore what he can bring to modern economic thinking, particularly post-Keynesian economics. Starting with Marx’s schemes of reproduction, which, it is shown, are the basis of the linear model of production as used since the 1960s by Piero Sraffa, Michio Morishima and others, the book reviews and assesses Marx’s major economic theses. These include: the labour theory of value; accumulation and technical change and its impact on labour; the concept of unproductive labour; the tendential falling rate of profits; the evolution and determinants of the share of wages in national income; as well as short-run and long-run economic dynamics. The Economic Ideas of Marx's Capital updates the theses of the labour theory of value and the conditions for balanced growth using the recent scholarly literature, and also further develops issues related to Marx’s concept of productive labour. Moreover, the book analyses the intellectual relationship of Marx’s economic theory with post-Keynesian neo-Marxism, particularly in the writings of Michal Kalecki, Joan Robinson and others. By doing so, the book shows the need and possibilities of integrating major insights of Marxist and post-Keynesian theory. This volume will be of interest to those who wish to explore Marx’s economic theories through a non-ideological approach, as well as students of Marxist economics, post-Keynesian economics and the history of economic thought.

Impacts of Cultural Capital and Economic Capital on Student College Choice Process in China

Impacts of Cultural Capital and Economic Capital on Student College Choice Process in China
Author: Lan Gao
Publsiher: Unknown
Total Pages: 135
Release: 2008
ISBN 10: 1928374650XXX
ISBN 13: OCLC:310976800
Language: EN, FR, DE, ES & NL

Impacts of Cultural Capital and Economic Capital on Student College Choice Process in China Book Review:

Natural Capital and Human Economic Survival Second Edition

Natural Capital and Human Economic Survival  Second Edition
Author: Thomas Prugh,Herman Daly,Robert Goodland,John H Cumberland,Richard B Norgaard
Publsiher: CRC Press
Total Pages: 208
Release: 1999-05-20
ISBN 10: 9781420048322
ISBN 13: 1420048325
Language: EN, FR, DE, ES & NL

Natural Capital and Human Economic Survival Second Edition Book Review:

Most people love nature and consider themselves environmentalists, but nature isn't just pretty and lovable, it is indispensable to our survival and economic activity. That is the most compelling reason for environmental protection. The conventional economic wisdom views land (natural capital) as a small part of the economy, along with capital, labor, technology and so on. The authors argue that this is backwards: that the economy nests within the environment (land) and not the other way around. The authors give a brief history of the origins of conventional economic wisdom and critique it from a the standpoint of ecological economics. They explain what natural capital -our life support system - is and does, and describe the severe strains that have been put on it. They conclude with some policy options, such as green taxes and suggestions for personal action that would conserve natural capital and thus make conserve resources for present and future generations. Natural Capital and Human Economic Survival is written for environmentalists, environmental studies majors and anyone concerned about the flaws of mainstream economics - how it has led us into unsustainable ways of living - and who would like to learn about alternatives that are more sustainable.

Money and Capital in Economic Development

Money and Capital in Economic Development
Author: Ronald I. McKinnon
Publsiher: Brookings Institution Press
Total Pages: 184
Release: 2010-12-01
ISBN 10: 9780815718499
ISBN 13: 0815718497
Language: EN, FR, DE, ES & NL

Money and Capital in Economic Development Book Review:

This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.

Capital and Ideology

Capital and Ideology
Author: Thomas Piketty
Publsiher: Harvard University Press
Total Pages: 976
Release: 2020-03-10
ISBN 10: 0674245083
ISBN 13: 9780674245082
Language: EN, FR, DE, ES & NL

Capital and Ideology Book Review:

The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system. Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system. Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity. Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

Marx Capital and the Madness of Economic Reason

Marx  Capital and the Madness of Economic Reason
Author: David Harvey
Publsiher: Oxford University Press
Total Pages: 236
Release: 2017-11-07
ISBN 10: 0190691484
ISBN 13: 9780190691486
Language: EN, FR, DE, ES & NL

Marx Capital and the Madness of Economic Reason Book Review:

Prologue -- The visualisation of capital as value in motion -- Capital, the book -- Money as the representation of value -- Anti-value: the theory of devaluation -- Prices without values -- The question of technology -- The space and time of value -- The production of value regimes -- The madness of economic reason -- Coda

The Measurement of Capital

The Measurement of Capital
Author: Dan Usher
Publsiher: University of Chicago Press
Total Pages: 568
Release: 2008-04-15
ISBN 10: 0226843025
ISBN 13: 9780226843025
Language: EN, FR, DE, ES & NL

The Measurement of Capital Book Review:

How is real capital measured by government statistical agencies? How could this measure be improved to correspond more closely to an economist's ideal measure of capital in economic analysis and prediction? It is possible to construct a single, reliable time series for all capital goods, regardless of differences in vintage, technological complexity, and rates of depreciation? These questions represent the common themes of this collection of papers, originally presented at a 1976 meeting of the Conference on Income and Wealth.

Quantification of Economic Capital and Its Constituent Risk Components for Life Insurance Annuity Portfolios

Quantification of Economic Capital and Its Constituent Risk Components for Life Insurance Annuity Portfolios
Author: Mayukh Gaven
Publsiher: Unknown
Total Pages: 135
Release: 2013
ISBN 10: 1928374650XXX
ISBN 13: OCLC:876282293
Language: EN, FR, DE, ES & NL

Quantification of Economic Capital and Its Constituent Risk Components for Life Insurance Annuity Portfolios Book Review:

Capital in the Nineteenth Century

Capital in the Nineteenth Century
Author: Robert E. Gallman,Paul W. Rhode
Publsiher: University of Chicago Press
Total Pages: 397
Release: 2020-02-26
ISBN 10: 022663311X
ISBN 13: 9780226633114
Language: EN, FR, DE, ES & NL

Capital in the Nineteenth Century Book Review:

When we think about history, we often think about people, events, ideas, and revolutions, but what about the numbers? What do the data tell us about what was, what is, and how things changed over time? Economist Robert E. Gallman (1926–98) gathered extensive data on US capital stock and created a legacy that has, until now, been difficult for researchers to access and appraise in its entirety. Gallman measured American capital stock from a range of perspectives, viewing it as the accumulation of income saved and invested, and as an input into the production process. He used the level and change in the capital stock as proxy measures for long-run economic performance. Analyzing data in this way from the end of the US colonial period to the turn of the twentieth century, Gallman placed our knowledge of the long nineteenth century—the period during which the United States began to experience per capita income growth and became a global economic leader—on a strong empirical foundation. Gallman’s research was painstaking and his analysis meticulous, but he did not publish the material backing to his findings in his lifetime. Here Paul W. Rhode completes this project, giving permanence to a great economist’s insights and craftsmanship. Gallman’s data speak to the role of capital in the economy, which lies at the heart of many of the most pressing issues today.