157 résultats pour « riskmanagement »

Should Bank Stress Tests Be Fair?

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"We argue that simply pooling data across banks treats banks equally but is subject to two deficiencies: it may distort the impact of legitimate portfolio features, and it is vulnerable to implicit misdirection of legitimate information to infer bank identity. We compare various notions of regression fairness to address these deficiencies, considering both forecast accuracy and equal treatment. In the setting of linear models, we argue for estimating and then discarding centered bank fixed effects as preferable to simply ignoring differences across banks."

What Drives Bank‑Specific Capital Requirements? Evidence from the Ssm

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"Drawing on recently disclosed information on the Pillar 2 capital requirements of banks directly supervised by the ECB, we find that bank-specific capital requirements are mostly driven by business model and profitability, credit risk, and internal governance and risk management issues. Moreover, we propose a novel measure of bank governance quality that teases out the qualitative dimension of the P2R decision."

The Road Less Travelled: Keynes and Knight on Probability and Uncertainty

"The possibilities of a Keynesian-Knightian synthesis as a way forward are considered by comparing these signposts. It is argued that, although there is some common ground between Knight and Keynes, there are fundamental differences particularly associated with Keynes’s concept of weight of argument."

Ensemble distributional forecasting for insurance loss reserving

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"... different loss reserving models specialise in capturing different aspects of loss data. This is recognised in practice in the sense that results from different models are often considered, and sometimes combined. For instance, actuaries may take a weighted average of the prediction outcomes from various loss reserving models, often based on subjective assessments."