Stochastic Optimal Control and the U.S. Financial Debt Crisis

Jerome L. Stein

Stochastic Optimal Control and the U.S. Financial Debt Crisis
Format
Paperback
Publisher
Springer-Verlag New York Inc.
Country
United States
Published
13 April 2014
Pages
160
ISBN
9781489986313

Stochastic Optimal Control and the U.S. Financial Debt Crisis

Jerome L. Stein

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Stochastic Optimal Control (SOC)-a mathematical theory concerned with minimizing a cost (or maximizing a payout) pertaining to a controlled dynamic process under uncertainty-has proven incredibly helpful to understanding and predicting debt crises and evaluating proposed financial regulation and risk management. Stochastic Optimal Control and the U.S. Financial Debt Crisis analyzes SOC in relation to the 2008 U.S. financial crisis, and offers a detailed framework depicting why such a methodology is best suited for reducing financial risk and addressing key regulatory issues. Topics discussed include the inadequacies of the current approaches underlying financial regulations, the use of SOC to explain debt crises and superiority over existing approaches to regulation, and the domestic and international applications of SOC to financial crises. Principles in this book will appeal to economists, mathematicians, and researchers interested in the U.S. financial debt crisis and optimal risk management.

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