Nos derniers articles

"This paper... reviews the different channels of transmission of prudential policy highlighted in the literature and... provides a quantitative assessment of the impact of Basel III reforms using "off-the-shelf" DSGE models. It shows that the effects of regulation are positive on GDP whenever the costs and benefits of regulation are both introduced."

"... our results imply that when derivatives-related proprietary costs are high, benefits of non-compliance likely outweigh the costs."

"Current reporting standards for insurers require a decomposition of observed profits and losses in such a way that changes in the insurer's balance sheet can be attributed to specified risk factors. Generating such a decomposition is a nontrivial task because balance sheets generally depend on the risk factors in a non-linear way. This paper starts from an axiomatic perspective on profit and loss decompositions and finds that the axioms necessarily lead to infinitesimal sequential updating (ISU) decompositions, provided that the latter exist and are stable, whereas the current practice is rather to use sequential updating (SU) decompositions. The generality of the axiomatic approach makes the results useful also beyond insurance applications wherever profits and losses shall be additively decomposed in a risk-oriented manner."

"... insurance carriers should internally organize key stakeholders related to AI strategy and development to collaboratively evaluate how they define and develop AI projects and models. If carriers have not yet established broad life cycle governance or risk management practices unique to their AI/machine learning systems, they should begin that journey with haste."