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- catalog abstract "The hypothesis of this paper as to why there is anxiety or strong focus on the risks of new activities is that their implementation has required major changes in the basic institutional hierarchy and in the infrastructure to support it and that the knowledge base required to manage this part of the system is significantly different from the traditional training and experience of many private-sector financial managers as well as regulators. Changes of this sort are threatening. It is difficult to deal with change that is exogenous with repect to our traditional knowledge base and framework and therefore seems outside of our control. Less apparent understanding of the new environment can create a sense of greater risk even if the objective level of risk in the system is unchanged or reduced. The case for this conjecture is explored by discussing the institutional and knowledge-base changes needed in the areas of risk management, identification of risk categories, the accounting system, and methods for implementing both regulatory and stabilization public policy.".
- catalog contributor b8842854.
- catalog created "1994.".
- catalog date "1994".
- catalog date "1994.".
- catalog dateCopyrighted "1994.".
- catalog description "Includes bibliographical references (p. 23-26).".
- catalog description "The hypothesis of this paper as to why there is anxiety or strong focus on the risks of new activities is that their implementation has required major changes in the basic institutional hierarchy and in the infrastructure to support it and that the knowledge base required to manage this part of the system is significantly different from the traditional training and experience of many private-sector financial managers as well as regulators. Changes of this sort are threatening. It is difficult to deal with change that is exogenous with repect to our traditional knowledge base and framework and therefore seems outside of our control. Less apparent understanding of the new environment can create a sense of greater risk even if the objective level of risk in the system is unchanged or reduced. The case for this conjecture is explored by discussing the institutional and knowledge-base changes needed in the areas of risk management, identification of risk categories, the accounting system, and methods for implementing both regulatory and stabilization public policy.".
- catalog extent "26 p. ;".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 95-018.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 95-018".
- catalog issued "1994".
- catalog issued "1994.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Financial innovation and the management and regulation of financial institutions / by Robert C. Merton.".
- catalog type "text".