Prasanna Gai's Books

Private Sector Involvement and International Financial Crises

An Analytical Perspective

By: Michael Chui,Prasanna Gai

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Private Sector Involvement and International Financial Crises

An Analytical Perspective

By: Michael Chui,Prasanna Gai

Offering an analytical perspective on the design and reform of the international financial architecture, this book stresses the important role played by creditor co-ordination problems in the origin and management of crises by relating the insights of the new literature on global games to earlier work on currency crises, bank runs, and sovereign debt default. It examines the design of sovereign bankruptcy procedures, the role of the IMF in influencing creditors and debtor countries, and the currency composition of sovereign debt, and draws on recent research and policy work. The book's first part provides a critical synthesis of the literature underpinning the architecture debate. It reviews the traditional distinction between "fundamentals-based" and "sunspot-based" crises before reconciling the two using global game methods. The role of co-ordination problems in sparking costly liquidation and influencing the debtor's incentives to repay is then examined in depth and shown to lie at the heart of crisis management policy. The empirical literature on leading indicators of crisis is also critically examined and related to the architecture debate. In its second part the book examines key issues in crisis management. Suggesting that optimal reforms must set the inefficiencies of crisis against the inefficiencies of debtor moral hazard, the authors consider the relative merits of statutory and contractual solutions to sovereign debt workouts. They go on to discuss the role of the IMF in influencing private lending and debtor moral hazard, theoretically and empirically. They argue that there is no simple relationship between ex post crisis management and ex ante moral hazard, implying that the handling of financial crises is a delicate affair warranting a cautious approach by would-be architects.

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Page Count

236

Publisher

OUP Oxford

Published Date

ISBN 10

0191533173

ISBN 13

9780191533174

Systemic Risk

The Dynamics of Modern Financial Systems

By: Prasanna Gai

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Systemic Risk

The Dynamics of Modern Financial Systems

By: Prasanna Gai

Systemic Risk opens new ground in the study of financial crises. It treats the financial system as a complex adaptive system and shows how lessons from network disciplines - such as ecology, epidemiology, and statistical mechanics - shed light on our understanding of financial stability. Using tools from network theory and economics, it suggests that financial systems are robust-yet-fragile, with knife-edge properties that are greatly exacerbated by the hoarding of funds and the fire sale of assets by banks. This book studies the damaging network consequences of the failure of large inter-connected institutions, explains how key funding markets can seize up across the entire financial system, and shows how the pursuit of secured finance by banks in the wake of the global financial crisis can generate systemic risks. The insights are then used to model banking systems calibrated to data to illustrate how financial sector regulators are beginning to quantify financial system stress.

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Page Count

147

Publisher

OUP Oxford

Published Date

ISBN 10

019165406X

ISBN 13

9780191654060

Data-Based Methods for Materials Design and Discovery

Basic Ideas and General Methods

By: Ghanshyam Pilania,Prasanna V. Balachandran,James E. Gubernatis,Turab Lookman

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Data-Based Methods for Materials Design and Discovery

Basic Ideas and General Methods

By: Ghanshyam Pilania,Prasanna V. Balachandran,James E. Gubernatis,Turab Lookman

Machine learning methods are changing the way we design and discover new materials. This book provides an overview of approaches successfully used in addressing materials problems (alloys, ferroelectrics, dielectrics) with a focus on probabilistic methods, such as Gaussian processes, to accurately estimate density functions. The authors, who have extensive experience in this interdisciplinary field, discuss generalizations where more than one competing material property is involved or data with differing degrees of precision/costs or fidelity/expense needs to be considered.

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Page Count

172

Publisher

Springer Nature

Published Date

ISBN 10

3031023838

ISBN 13

9783031023835

Gravitation

By: A R Prasanna

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Gravitation

By: A R Prasanna

This book suitable for post graduates in Physics and Astrophysics aims at introducing the theory of general relativity as an important background for doing astrophysics. Starting from a detailed discussion of the various mathematical concepts for doing general relativity, the book introduces the geometric description of gravity. It gives a brief historical perspective to classical mechanics and electrodynamics making an attempt to establish the necessity of special relativity as propounded by Einstein extending to General Relativity. This book is a good starting point for post graduates wanting to pursue the modern topics of Cosmology, High energy astrophysics and related areas.

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Page Count

424

Publisher

CRC Press

Published Date

ISBN 10

1498746659

ISBN 13

9781498746656

Book's by Prasanna Gai

Private Sector Involvement and International Financial Crises

Private Sector Involvement and International Financial Crises

Systemic Risk

Systemic Risk

Data-Based Methods for Materials Design and Discovery

Data-Based Methods for Materials Design and Discovery

Gravitation

Gravitation

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