Fishing for Sifis: row over Nobel laureate’s risk model
Engle’s tool for ranking risky firms is one of many that are dividing industry, academics and regulators
Robert Engle is uneasy. An influential model developed by the Nobel prize-winning economist paints the largest insurers as a clear and present threat to financial stability, but over the past two months US regulators have taken a series of steps to shield these firms from tougher regulation.
On September 29, US prudential regulators declared AIG – recipient of one of the biggest government
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