Stress Testing the System: Simulating the Global Consequences of the Next Financial Crisis [Paperback]

Roger M. Kubarych (Author)

Book Description

Publication Date: August 1, 2001

What if you took seventy-five of the most experienced professionals in the fields of finance, economics, foreign policy, and national security and confronted them with two dozen policy problems triggered by a massive contraction in the stock markets? That is the premise of Stress Testing the System: Simulating the Global Consequences of the Next Financial Crisis. Based on a policy simulation that was conducted before the September 11,2001 attacks and is now even more relevant, Council Fellow Roger Kubarych draws several key lessons: government policymakers need to dedicate time and resources to identifying the principal vulnerabilities of financial and political systems-and anticipating their possible consequences. While it won't help them predict a crisis, playing out a variety of low-probability, high-cost events will leave leaders better prepared when one occurs. Kubarych notes that policymakers' first priority in a financial crisis is to stabilize markets-all other problems are subordinate. This book is more than a revealing account of the lessons and implications of time- and crisis-pressured decision making: it is an instructive guide to organizing business and financial "war-gaming." Kubarych provides an insider's look at the collaboration among great minds that led to a successfully crafted scenario played out with real-world accuracy.

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About the Author

Roger Kubarych is the Henry Kaufman senior fellow of international economics and finance at the Council on Foreign Relations.

Product Details

• Paperback: 208 pages
• Publisher: Council on Foreign Relations Press (August 1, 2001)
• Language: English
• ISBN-10: 0876092717
• ISBN-13: 978-0876092712
• Product Dimensions: 9 x 6 x 0.5 inches
• Shipping Weight: 12.2 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #3,122,030 in Books (See Top 100 in Books)

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