Introduction to "Quantifying Systemic Risk"
This introductory chapter begins with a discussion of measurement and monitoring of systemic risk in the wake of the 2007-2009 financial crisis and changes in financial regulation. An overview of the subsequent chapters is then presented.
The views expressed here are those of the authors, and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System, AlphaSimplex Group, MIT, and their affiliates and employees. Research support from the MIT Laboratory for Financial Engineering and the National Science Foundation (ECCS-1027905) is gratefully acknowledged.
In addition to his academic position, Andrew Lo also has the following affiliations: chairman and chief investment strategist, AlphaSimplex Group; consultant, Office of Financial Research; member, NY Fed Financial Advisory Roundtable; member, FINRA Economic Advisory Committee; member, Moody's Academic and Advisory Research Committee; research association, National Bureau of Economic Research; member, Board of Overseers, Beth Israel Deaconess Medical Center; lecturer in various executive education programs (Bank of America, Citigroup).