Beyond distributional analysis

In the third article in a four-part series, David Rowe considers the need for financial risk management to move beyond distributional analysis to consider more qualitative inputs


Since the mid-1980s, financial risk management has developed many complex methods for summarising and aggregating risk. These widely applied techniques are useful for managing day-to-day fluctuations, but in too many organisations they have blinded management to the need to analyse an array of structural issues that come to the fore in a severe systemic crisis. The following are two of the areas demanding increased attention in the future.

Self-referential risk

Human reactions to inertia can be

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