Concepts and Measurement of Risk - Article by Borio, Furfine, Lowe
Sunday, May 4th, 2008Claudio Borio, Craig Furfine and Philip Lowe discuss concepts of risks in their article "Pro-cyclicality of the financial system and financial stability: issues and policy options": They distinguish several types of risk: expected and unexpected losses (in the statistical sense) “Expected losses” refer to the average or mean losses anticipated over a particular ...