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This book examines the entwined and simultaneous rise of graphic satire and cultures of paper money in late eighteenth- and early nineteenth-century Britain. Asking how Britons learned to value both graphic art and money, the book makes surprising connections between two types of engraved images that grew in popularity and influence during this time. Graphic satire grew in visual risk-taking, while paper money became a more standard carrier of financial value, courting controversy as a medium, moral problem, and factor in inflation. Through analysis of satirical prints, as well as case studies of monetary satires beyond London, this book demonstrates several key ways that cultures attach value to printed paper, accepting it as social reality and institutional fact. Thus, satirical banknotes were objects that broke down the distinction between paper money and graphic satire ​altogether.

Women --- History --- Great Britain --- Social conditions --- Humor. --- Britain, UK, United Kingdom, England, comedy, comics, satire, satirical comedy, art, money, materialism, London, inflation, moral, morals, graphic satire, prints, 18th century, eighteenth century, 1700s, media, satirical banknotes, history, policy, politics, economics.

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This Special Issue covers the topic of timely vital risk management - systemic risk - from many important perspectives. It includes novel and scientific approaches from the network with topological indicators on systemic risk, community analysis of the global financial system, welfare analysis of capital insurance and the impact of capital requirement, risk measures, and optimal portfolio and optimal reinsurance under risk constraint. Most articles study the financial sector and insurance companies after the financial crisis of 2008–2009 circa ten years prior. The COVID-19 global pandemic in 2020 has caused similar or even greater challenges for the entire economy. Therefore, this Special Issue will be useful for anyone interested in systemic risk management.

Coins, banknotes, medals, seals (numismatics) --- optimal reinsurance --- general risk measure --- risk sharing --- systemic risk --- capital insurance --- welfare --- equilibrium --- conditional value-at-risk --- mean-CVaR portfolio optimization --- risk minimization --- Neyman–Pearson problem --- interconnectedness --- financial conglomerate --- contagion --- capital requirement for premium risk --- collective risk model --- reinsurance strategies --- Solvency II --- community structure --- complex networks --- financial markets --- insurance sector --- deltaCoVaR --- minimum spanning trees—topological indicators --- tail dependence

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Bank notes --- Billets de banque --- History --- Histoire --- FR / France - Frankrijk --- 333.111.40 --- 333.426 --- 331.155 --- 343.51 --- Gelduitgifte en gelddekking: algemeen. --- Chartaal geld. --- Geldwezen in de XIXe eeuw tot 1914. --- Vals geld. Valsheid in de papieren van openbaar krediet --- History. --- Bank bills --- Bank currency --- Banknotes --- Paper money --- Legal tender --- Geldwezen in de XIXe eeuw tot 1914 --- Gelduitgifte en gelddekking: algemeen --- Chartaal geld --- FRANCE --- BILLETS DE BANQUE --- MONNAIE --- BANQUES FRANCAISES --- CONDITIONS ECONOMIQUES --- 18E-19E SIECLES --- HISTOIRE --- 19E-20E SIECLES

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#A9912A --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- 333.426 --- 334.151.25 --- Euro --- -Bank notes --- -Coins --- -332.40409405 --- Money --- Numismatics --- Bank bills --- Bank currency --- Banknotes --- Paper money --- Legal tender --- Chartaal geld. --- Rekeneenheid, gemeenschappelijke munt van de Europese Gemeenschappen. ECU. Euro. --- Money. Monetary policy --- European Union --- Chartaal geld --- Rekeneenheid, gemeenschappelijke munt van de Europese Gemeenschappen. ECU. Euro --- AA / International- internationaal --- 334.151.21 --- Europese centrale bank. ESCB. Centrale banken --- -Money. Monetary policy --- -Coins -

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Credit risk remains one of the major risks faced by most financial and credit institutions. It is deeply connected to the real economy due to the systemic nature of some banks, but also because well-managed lending facilities are key for wealth creation and technological innovation. This book is a collection of innovative papers in the field of credit risk management. Besides the probability of default (PD), the major driver of credit risk is the loss given default (LGD). In spite of its central importance, LGD modeling remains largely unexplored in the academic literature. This book proposes three contributions in the field. Ye & Bellotti exploit a large private dataset featuring non-performing loans to design a beta mixture model. Their model can be used to improve recovery rate forecasts and, therefore, to enhance capital requirement mechanisms. François uses instead the price of defaultable instruments to infer the determinants of market-implied recovery rates and finds that macroeconomic and long-term issuer specific factors are the main determinants of market-implied LGDs. Cheng & Cirillo address the problem of modeling the dependency between PD and LGD using an original, urn-based statistical model. Fadina & Schmidt propose an improvement of intensity-based default models by accounting for ambiguity around both the intensity process and the recovery rate. Another topic deserving more attention is trade credit, which consists of the supplier providing credit facilities to his customers. Whereas this is likely to stimulate exchanges in general, it also magnifies credit risk. This is a difficult problem that remains largely unexplored. Kanapickiene & Spicas propose a simple but yet practical model to assess trade credit risk associated with SMEs and microenterprises operating in Lithuania. Another topical area in credit risk is counterparty risk and all other adjustments (such as liquidity and capital adjustments), known as XVA. Chataignier & Crépey propose a genetic algorithm to compress CVA and to obtain affordable incremental figures. Anagnostou & Kandhai introduce a hidden Markov model to simulate exchange rate scenarios for counterparty risk. Eventually, Boursicot et al. analyzes CoCo bonds, and find that they reduce the total cost of debt, which is positive for shareholders. In a nutshell, all the featured papers contribute to shedding light on various aspects of credit risk management that have, so far, largely remained unexplored.

Coins, banknotes, medals, seals (numismatics) --- recovery rates --- beta regression --- credit risk --- contingent convertible debt --- financial modelling --- risk management --- financial crisis --- recovery rate --- loss given default --- model ambiguity --- default time --- no-arbitrage --- reduced-form HJM models --- recovery process --- Counterparty Credit Risk --- Hidden Markov Model --- Risk Factor Evolution --- Backtesting --- FX rate --- Geometric Brownian Motion --- trade credit --- small and micro-enterprises --- financial non-financial variables --- risk assessment --- logistic regression --- probability of default --- wrong-way risk --- dependence --- urn model --- counterparty risk --- credit valuation adjustment (CVA) --- XVA (X-valuation adjustments) compression --- genetic algorithm --- n/a