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Rating Based Modeling of Credit Risk -  - Academic sku

Rating Based Modeling of Credit Risk - by Academic Press

Item description: This Academic Business, Management Science and Accounting product is by Academic Press - In the last decade rating-based models have become very popular in credit risk management. These systems use the rating of a company as the decisive variable to evaluate the default risk of a bond or loan. The popularity is due to the straightforwardness of the approach, and to the upcoming new capital accord (Basel II), which allows banks to base their capital requirements on internal as well as external rating systems. Because of this, sophisticated credit risk models are being developed or demanded by banks to assess the risk of their credit portfolio better by recognizing the different underlying sources of risk. As a consequence, not only default probabilities for certain rating categories but also the probabilities of moving from one rating state to another are important issues in such models for risk management and pricing. It is widely accepted that rating migrations and default probabilities show significant variations through time due to macroeconomics conditions or the business cycle. These changes in migration behavior may have a substantial impact on the value-at-risk (VAR) of a credit portfolio or the prices of credit derivatives such as collateralized debt obligations (D+CDOs). In this book the authors develop a much more sophisticated analysis of migration behavior. Their contribution of more sophisticated techniques to measure and forecast changes in migration behavior as well as determining adequate estimators for transition matrices is a major contribution to rating based credit modeling.... Learn More

Manufacturer: Academic Press

Keywords: Business, Management Science and Accounting

Store: Elsevier is a world-leading provider of information solutions that enhance the performance of science, health, and technology professionals, empowering them to make better decisions, deliver better care, and make groundbreaking discoveries, that advance the boundaries of knowledge and human progress. Elsevier buy personas include individual researchers, corporations, academic institutions, educators, students, librarians and health professionals.

Category: Business, Management Science and Accounting

$92.95

See the Price of Rating Based Modeling of Credit Risk

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