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Systemic Risk and Financial Innovation

Systemic Risk and Financial Innovation

Toward a “Unified”Approach

(p.11) Systemic Risk and Financial Innovation
Quantifying Systemic Risk
Henry T. C. Hu
University of Chicago Press

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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