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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Stress Testing the System: Simulating the Global Consequences of the Next Financial Crisis

Stress Testing the System: Simulating the Global Consequences of the Next Financial Crisis

Kubarych, Roger M.

Paperback

EconomicsGeneral Political Science

ISBN10: 0876092717
ISBN13: 9780876092712
Publisher: Council on Foreign Relations Press
Published: Aug 1 2001
Pages: 208
Weight: 0.76
Height: 0.53 Width: 6.04 Depth: 8.98
Language: English
What if you took seventy-five of the most experienced professionals in the fields of finance, economics, foreign policy, and national security and confronted them with two dozen policy problems triggered by a massive contraction in the stock markets? That is the premise of Stress Testing the System: Simulating the Global Consequences of the Next Financial Crisis. Based on a policy simulation that was conducted before the September 11,2001 attacks and is now even more relevant, Council Fellow Roger Kubarych draws several key lessons: government policymakers need to dedicate time and resources to identifying the principal vulnerabilities of financial and political systems-and anticipating their possible consequences. While it won't help them predict a crisis, playing out a variety of low-probability, high-cost events will leave leaders better prepared when one occurs. Kubarych notes that policymakers' first priority in a financial crisis is to stabilize markets-all other problems are subordinate. This book is more than a revealing account of the lessons and implications of time- and crisis-pressured decision making: it is an instructive guide to organizing business and financial war-gaming. Kubarych provides an insider's look at the collaboration among great minds that led to a successfully crafted scenario played out with real-world accuracy.

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