How Long to Read Credit Models and the Crisis

How Long Does it Take to Read Credit Models and the Crisis?

It takes the average reader 3 hours and 10 minutes to read Credit Models and the Crisis by Damiano Brigo

Assuming a reading speed of 250 words per minute. Learn more

Description

The recent financial crisis has highlighted the need for better valuation models and risk management procedures, better understanding of structured products, and has called into question the actions of many financial institutions. It has become commonplace to blame the inadequacy of credit risk models, claiming that the crisis was due to sophisticated and obscure products being traded, but practitioners have for a long time been aware of the dangers and limitations of credit models. It would seem that a lack of understanding of these models is the root cause of their failures but until now little analysis had been published on the subject and, when published, it had gained very limited attention. Credit Models and the Crisis is a succinct but technical analysis of the key aspects of the credit derivatives modeling problems, tracing the development (and flaws) of new quantitative methods for credit derivatives and CDOs up to and through the credit crisis. Responding to the immediate need for clarity in the market and academic research environments, this book follows the development of credit derivatives and CDOs at a technical level, analyzing the impact, strengths and weaknesses of methods ranging from the introduction of the Gaussian Copula model and the related implied correlations to the introduction of arbitrage-free dynamic loss models capable of calibrating all the tranches for all the maturities at the same time. It also illustrates the implied copula, a method that can consistently account for CDOs with different attachment and detachment points but not for different maturities, and explains why the Gaussian Copula model is still used in its base correlation formulation. The book reports both alarming pre-crisis research and market examples, as well as commentary through history, using data up to the end of 2009, making it an important addition to modern derivatives literature. With banks and regulators struggling to fully analyze at a technical level, many of the flaws in modern financial models, it will be indispensable for quantitative practitioners and academics who want to develop stable and functional models in the future.

How long is Credit Models and the Crisis?

Credit Models and the Crisis by Damiano Brigo is 186 pages long, and a total of 47,616 words.

This makes it 63% the length of the average book. It also has 58% more words than the average book.

How Long Does it Take to Read Credit Models and the Crisis Aloud?

The average oral reading speed is 183 words per minute. This means it takes 4 hours and 20 minutes to read Credit Models and the Crisis aloud.

What Reading Level is Credit Models and the Crisis?

Credit Models and the Crisis is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Credit Models and the Crisis?

Credit Models and the Crisis by Damiano Brigo is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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