Handbook of Asset and Liability Management - Set: Handbook of Asset and Liability Management, Volume 2: Applications and Case Studies [Hardcover]

Stavros A. Zenios (Editor), William T. Ziemba (Editor)

Book Description

ISBN-10: 0444528024 | ISBN-13: 978-0444528025 | Publication Date: August 22, 2007 | Edition: 1

The Handbooks in Finance are intended to be a definitive source for comprehensive and accessible information in the field of finance. Each individual volume in the series presents an accurate self-contained survey of a sub-field of finance, suitable for use by finance and economics professors and lecturers, professional researchers, graduate students and as a teaching supplement.

It is fitting that the series Handbooks in Finance devotes a handbook to Asset and Liability Management. Volume 2 focuses on applications and case studies in asset and liability management.

The growth in knowledge about practical asset and liability modeling has followed the popularity of these models in diverse business settings. This volume portrays ALM in practice, in contrast to Volume 1, which addresses the theories and methodologies behind these models. In original articles practitioners and scholars describe and analyze models used in banking, insurance, money management, individual investor financial planning, pension funds, and social security. They put the traditional purpose of ALM, to control interest rate and liquidity risks, into rich and broad-minded frameworks. Readers interested in other business settings will find their discussions of financial institutions both instructive and revealing.

* Focuses on pragmatic applications
* Relevant to a variety of risk-management industries
* Analyzes models used in most financial sectors

Editorial Reviews

Review

"A decade on, this two volume handbook is destined to replace its predecessor 'Worldwide Asset and Liability Modeling' as the standard reference work in the field."

M.A.H. Dempster
University of Cambridge

"This second volume of the 'Handbook of Asset and Liability Management' provides a fascinating and extensive view of how the Operations Research and Mathematical Finance tools, described in the first volume, can be exploited profitably by pension funds (including the government Social Security program), insurance companies, banks, major and individual investors. It might almost be unreasonable to be involved in portfolio management, the design of insurance policies or setting up a pension fund without a serious reading of this compendium."

Roger J-B Wets
University of California, Davis

"Once again the editors have put together a volume that both practitioners and academics can appreciate. This volume has the technical depth for all and the practical breadth to make it a popular resource."

David Hobson Myers
Lehigh University

Product Details

• Hardcover: 684 pages
• Publisher: North Holland; 1 edition (August 22, 2007)
• Language: English
• ISBN-10: 0444528024
• ISBN-13: 978-0444528025
• Product Dimensions: 9.6 x 6.5 x 1.3 inches
• Shipping Weight: 3.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,459,537 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

4.0 out of 5 stars Handbook as it says, April 29, 2009

By 

Georgios Georgiopoulos - See all my reviews
(REAL NAME)   

This review is from: Handbook of Asset and Liability Management - Set: Handbook of Asset and Liability Management, Volume 2: Applications and Case Studies (Hardcover)

I am new to the ALM field and that was the first book i started reading. The book is not a how to do one, it does not have a theorem-proof approach nor does it tell how to implement stochastic programming or teach you how to do so. This is as it says a handbook, it presents the field, the models, the problems, the tools and the open questions. Now if you want to start solving your ALM model, then you go somewhere else that is the details on how to discretize continuous processes, build scenarios, setup a stochastic program in a programming environment you find papers or ask people. In general ALM is a very obscure field where there is no book that collectively tells how to start from scratch like in financial derivatives (you start from measures, go to stoch calculus, finally instruments). Until the time for that book, this will be the main reference on the field