Business as usual is the normal state affairs, and the world that managers and policymakers operate within most of the time. Occasionally, however, that world is shaken by unforeseen extreme events, from stock market crashes to earthquakes.
How secure are Europe’s financial institutions? What are the chances of another crisis? Eric Jondeau and Michael Rockinger create a model for assessing the ability of European financial institutions, industry sectors, and countries, to withstand market shocks.