LEADER 04427nam 2200673Ia 450 001 9910792349403321 005 20200520144314.0 010 $a1-282-53854-3 010 $a9786612538544 010 $a0-226-49659-7 024 7 $a10.7208/9780226496597 035 $a(CKB)2670000000015076 035 $a(EBL)515751 035 $a(OCoLC)609863567 035 $a(SSID)ssj0000363018 035 $a(PQKBManifestationID)12069373 035 $a(PQKBTitleCode)TC0000363018 035 $a(PQKBWorkID)10381573 035 $a(PQKB)11786396 035 $a(StDuBDS)EDZ0000115687 035 $a(MiAaPQ)EBC515751 035 $a(DE-B1597)524662 035 $a(OCoLC)615635582 035 $a(DE-B1597)9780226496597 035 $a(Au-PeEL)EBL515751 035 $a(CaPaEBR)ebr10381177 035 $a(CaONFJC)MIL253854 035 $a(EXLCZ)992670000000015076 100 $a20090820d2010 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 00$aMeasuring and managing federal financial risk$b[electronic resource] /$fedited by Deborah Lucas 210 $aChicago ;$aLondon $cUniversity of Chicago Press$d2010 215 $a1 online resource (282 p.) 225 1 $aNational Bureau of Economic Research conference report 300 $aDescription based upon print version of record. 311 $a0-226-49658-9 320 $aIncludes bibliographical references and index. 327 $tFrontmatter -- $tContents -- $tPreface -- $tIntroduction -- $t1. Bringing Financial Literacy to Washington -- $t2. Measuring and Managing Federal Financial Risk: A View from the Hill -- $t3. The Cost of Risk to the Government and Its Implications for Federal Budgeting -- $t4. Federal Financial Exposure to Natural Catastrophe Risk -- $t5. Housing Policy, Mortgage Policy, and the Federal Housing Administration -- $t6. Valuing Government Guarantees: Fannie and Freddie Revisited -- $t7. Guaranteed versus Direct Lending: The Case of Student Loans -- $t8. Market Valuation of Accrued Social Security Benefi ts -- $t9. Environment and Energy: Catastrophic Liabilities from Nuclear Power Plants -- $tContributors -- $tAuthor Index -- $tSubject Index 330 $aThe U.S. government is the world's largest financial institution, providing credit and assuming risk through diverse activities. But the potential cost and risk of these actions and obligations remain poorly understood and only partially measured. Government budgetary and financial accounting rules, which largely determine the information available to federal decision makers, have only just begun to address these issues. However, recently there has been a push to rethink how these programs are valued and accounted for, and some progress has been made in applying modern valuation methods-such as options pricing, risk-adjusted discount rates, and value at risk-to these types of obligations. This book contains new research, both empirical and methodological, on the measurement and management of these costs and risks. The analyses encompass a broad spectrum of federal programs, including housing, catastrophe insurance, student loans, social security, and environmental liabilities. Collectively, the contributions gathered in Measuring and Managing Federal Financial Risk demonstrate that the logic of financial economics can be a useful tool for studying a range of federal activities. 410 0$aNational Bureau of Economic Research conference report. 606 $aFinancial risk$zUnited States$vCongresses 606 $aFinance, Public$zUnited States$vCongresses 610 $afinance, wealth, income, economics, economy, united states, usa, america, american, government, institution, institutional, credit, risk, diversity, cost, federal, pricing, discount, rates, obligations, empirical, methodology, methodological, measurement, management, programs, programming, housing, catastrophe, insurance, student loan, social security, environmental, liability, essay collection. 615 0$aFinancial risk 615 0$aFinance, Public 676 $a352.40973 701 $aLucas$b Deborah$01146860 712 02$aNational Bureau of Economic Research. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910792349403321 996 $aMeasuring and managing federal financial risk$93765998 997 $aUNINA