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Risk Topography – Systemic Risk and Macro Modeling - Chicago Scholarship Online
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Risk Topography: Systemic Risk and Macro Modeling

Markus Brunnermeier and Arvind Krishnamurthy


In the fall of 2010 and the spring of 2011, the NBER held two conferences that brought together leading academic researchers, central bankers, and other financial market experts to discuss ideas on measurement and macroeconomic modelling. This book contains a selection of the papers that were presented at the conferences. Existing measurement systems focus on measuring flows and stock variables. However, simply focusing on flow or stock variables is insufficient, especially in a world of derivatives that may divorce initial risk exposures and cash flows. Thus a theme that runs through the meas ... More

Keywords: risk topography, measuring flow, macroeconomic modeling, stock variables, macro risk, systemic crises, triggers, vulnerabilities, measurement

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780226077734
Published to Chicago Scholarship Online: January 2015 DOI:10.7208/chicago/9780226092645.001.0001


Affiliations are at time of print publication.

Markus Brunnermeier, editor

Arvind Krishnamurthy, editor

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Markus Brunnermeier and Arvind Krishnamurthy

I Measurement and Disclosure

II Risk Exposures

4 Remapping the Flow of Funds

Juliane Begenau, Monika Piazzesi, and Martin Schneider

5 Measuring Margin

Robert L. McDonald

III Liquidity and Leverage

Liquidity Mismatch Measurement

Markus Brunnermeier, Gary Gorton, and Arvind Krishnamurthy

8 Monitoring Leverage

John Geanakoplos and Lasse Heje Pedersen

IV Financial Intermediation and Credit

9 Repo and Securities Lending

Tobias Adrian, Brian Begalle, Adam Copeland, and Antoine Martin

10 Improving Our Ability to Monitor Bank Lending

William F. Bassett, Simon Gilchrist, Gretchen C. Weinbach, and Egon Zakrajšek

V Household Sector

VI Corporate Sector

VII International Sector