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Systemic Risk and Financial Innovation

Systemic Risk and Financial Innovation

Toward a “Unified”Approach

Chapter:
(p.11) Systemic Risk and Financial Innovation
Source:
Quantifying Systemic Risk
Author(s):
Henry T. C. Hu
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226921969.003.0002

This chapter, which presents the keynote address during the National Bureau of Economic Research conference held in Cambridge, Massachusetts, on November 6, 2009, revolves around the following question: What is the proper approach for understanding the critical relationship between systemic risk and modern financial innovation? It calls for a “unified” approach, one that comprehends the underlying innovation process and an eclecticism as to academic and local knowledge.

Keywords:   keynote address, systemic risk, financial innovation

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