Fully revised and restructured, "Measuring Market Risk, Second Edition" includes a new chapter on options risk management, as well as substantial new information on parametric risk, non-parametric measurements and liquidity risks, more practical information to help with specific calculations, and new examples including Q&A's and case studies. The accompanying CD-ROM includes a Measuring Market Risk toolbox, with about 150 risk measurement functions, a manual and a selection of Excel workbooks illustrating basic risk measurement functions.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Risk management and measurement are now, without doubt, the hottest topics in the finance world. Today, quantifying risk management is not only a management tool — but is also used by regulators for banks and finance houses. Beyond Value at Risk provides a comprehensive guide to recent developments and existing approaches to VaR and risk management, going beyond traditional approaches to the subject and offering a new, far-reaching perspective on investment, hedging and portfolio decision-making. The key to this distinctive approach is a new decision rule — the ‘Generalised Sharpe Rule’, and its practical applications. Beyond Value at Risk provides the answers to key questions, including:

• How to implement VaR and related systems in the real world
• How to make vital investment decisions and estimate their effect
• How to make hedging decisions
• How to manage a portfolio

This book provides an introduction to Value at Risk (VaR) and expected tail loss (ETL) estimation and is a student-oriented version of Measuring Market Risk (John Wiley & Sons 2002).

An Introduction to Market Risk Measurement includes coverage of:

• Parametric and non-parametric risk estimation

• Simulation

• Numerical Methods

• Liquidity Risks

• Risk Decomposition and Budgeting

• Backtesting

• Stress Testing

• Model Risk

This collection brings together leading political scientists in order to address the challenges faced by democracy in the twenty-first century. The contributors tackle the changing nature of democratic ideas, in particular equality in society and the satisfaction of citizens. They examine changing patterns of political involvement, from voting to new forms of participation and protest using the Internet and new technologies. Finally, they look at the challenge to democracy posed by the changing nature of state institutions: party systems, bureaucracy and e-government, regulation and the processes of institutional development.