Stress Test of the US State Digital Platform: Challenges and Prospects

Purpose The Coronavirus outbreak that started in China in late 2019 and spread globally in 2020 has had profound impacts on almost all areas of our working and personal lives. In the workplace, one of the functions that was perhaps most under the spotlight was human relations (HR) as first they had to deal with how people could work from home, and then if people should be put on furlough or worse, if they should lose their jobs. While countries such as Denmark and the UK agreed to fund people’s wages up to a certain percentage or cap of their salary, other countries such as the US saw millions simply become unemployed overnight. HR departments worldwide suddenly had to make some of the toughest decisions they will have ever been asked to do and implement them in a matter of days. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings The Coronavirus outbreak that started in China in late 2019 and spread globally in 2020 has had profound impacts on almost all areas of our working and personal lives. In the workplace, one of the functions that was perhaps most under the spotlight was human relations (HR) as first they had to deal with how people could work from home, and then if people should be put on furlough or worse, if they should lose their jobs. While countries such as Denmark and the UK agreed to fund people’s wages up to a certain percentage or cap of their salary, other countries such as the US saw millions simply become unemployed overnight. HR departments worldwide suddenly had to make some of the toughest decisions they will have ever been asked to do and implement them in a matter of days. Practical implications This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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Multi-Agent Financial Network (MAFN) Model of US Collateralized Debt Obligations (CDO)

Banking, Finance, and Accounting ◽

10.4018/978-1-4666-6268-1.ch030 ◽

2014 ◽

pp. 561-590 ◽

Cited By ~ 1

Author(s):

Sheri M. Markose ◽

Bewaji Oluwasegun ◽

Simone Giansante

Keyword(s):

Systemic Risk ◽

Stress Test ◽

Balance Sheet ◽

Collateralized Debt Obligations ◽

Financial Network ◽

Balance Sheets ◽

The Us ◽

Credit Risk Transfer ◽

Multi Agent ◽

Collateralized Debt

A database driven multi-agent model has been developed with automated access to US bank level FDIC Call Reports that yield data on balance sheet and off balance sheet activity, respectively, in Residential Mortgage Backed Securities (RMBS) and Credit Default Swaps (CDS). The simultaneous accumulation of RMBS assets on US banks' balance sheets and also large counterparty exposures from CDS positions characterized the $2 trillion Collateralized Debt Obligation (CDO) market. The latter imploded at the end of 2007 with large scale systemic risk consequences. Based on US FDIC bank data, that could have been available to the regulator at the time, the authors investigate how a CDS negative carry trade combined with incentives provided by Basel II and its precursor in the US, the Joint Agencies Rule 66 Federal Regulation No. 56914, which became effective on January 1, 2002, on synthetic securitization and Credit Risk Transfer (CRT), led to the unsustainable trends and systemic risk. The resultant market structure with heavy concentration in CDS activity involving 5 US banks can be shown to present too interconnected to fail systemic risk outcomes. The simulation package can generate the financial network of obligations of the US banks in the CDS market. The authors aim to show how such a Multi-Agent Financial Network (MAFN) model is well suited to monitor bank activity and to stress test policy for perverse incentives on an ongoing basis.

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Technological giants on digital markets as a result of a regulator failure

Journal of Modern Competition ◽

10.37791/1993-7598-2020-14-4-5-24 ◽

2020 ◽

Vol 14 (80) ◽

pp. 5-24

Author(s):

Al. Kovalenko ◽

Keyword(s):

Market Power ◽

Product Markets ◽

Dominant Position ◽

Digital Platforms ◽

Digital Platform ◽

Us Congress ◽

The Us ◽

Methodological Problems ◽

Derivative Markets ◽

Antitrust Regulation

The article discusses the main problems of antitrust regulation of multilateral digital platforms. The problems of defining the boundaries of product markets on which multilateral platforms operate, including the problems of analyzing competition in derivative markets, other stages of determining the dominant position of a digital platform and its market power are disclosed. In the context of the latest news related to the proposals of the Subcommittee of the US Congress on toughening antitrust regulation of digital giants (Amazon, Facebook, Google, Apple), the possibilities of using such proposals in the Russian practice of antitrust regulation are considered. The author identifies the methodological problems that arise in the context of strengthening the market power of digital platforms, and also reveals the author’s approach to solving these problems.

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Reality check: How adolescents use TikTok as a digital backchanneling medium to speak back against institutional discourses of school(ing)

The Radical Teacher ◽

10.5195/rt.2021.777 ◽

2021 ◽

Vol 119 ◽

pp. 61-67

Author(s):

William Terrell Wright

Keyword(s):

Young People ◽

Adult Educators ◽

Digital Platform ◽

The Past ◽

Socially Constructed ◽

Reality Check ◽

The Us

This article centers on how TikTok’s adolescent users “speak back” to discourses of school(ing) in the US. Through a discussion of four viral, school-related trends that have proliferated on TikTok over the past two years, the author calls attention to the ways school(ing), as a largescale, democratic project and socially constructed phenomenon, is being shaped by young people, for young people on a digital platform that backchannels a largely resistant attitude toward the institutional framing of school(ing) upheld by many adult educators today. The hope is that educators might engage these moments of rupture and feelings of dissonance in considerate ways that do not combat or cheapen the experiences of the young people in classrooms but instead open up opportunities for understanding and dialogue.

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Firms’ net-zero plans are key to meeting climate goals

Emerald Expert Briefings ◽

10.1108/oxan-db258406 ◽

2020 ◽

Keyword(s):

Financial Stability ◽

Stress Test ◽

Ghg Emissions ◽

Paris Agreement ◽

Content Type ◽

The United Kingdom ◽

Climate Targets ◽

Net Zero ◽

The Us ◽

The Impact

Significance To achieve the 2015 Paris agreement climate targets, greenhouse gas (GHG) emissions must be net-zero by 2050. While the Paris agreement was a commitment by governments, businesses account for a substantial proportion of emissions. Firms have often had to plan without clear government guidance. Impacts The Network of Central Banks for Greening the Financial System has 83 members; the US Fed joining this month may give the scheme impetus. The United Kingdom, euro-area and Australia plan to stress test the impact of climate change on financial stability; others may follow. Banks will target net-zero emissions by 2050 from loans, deals and operations; Barclays, HSBC and JP Morgan have made plans since October. Better tools to measure the emissions indirectly produced or financed by firms will help executives adopt more targeted strategies.

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Public Wealth in the United States

IMF Working Papers ◽

10.5089/9781498312219.001 ◽

2019 ◽

Vol 19 (139) ◽

pp. 1

Author(s):

Fabien Gonguet ◽

Klaus-Peter Hellwig

Keyword(s):

World War Ii ◽

Public Sector ◽

Global Financial Crisis ◽

Stress Test ◽

Balance Sheet ◽

The United States ◽

Net Worth ◽

The Us ◽

History Of ◽

The Global Financial Crisis

We analyze the US public sector balance sheet and project it forward under the assumption that current policies remain in place. We first document the history of the balance sheet and its components since World War II, with a detailed account of its evolution during and after the global financial crisis. While, based on assets and liabilities alone, public sector net worth is negative, additional challenges arise from commitments to future spending implied by current legislation and demographic trends. To quantify the risks to the balance sheet, we then apply the macroeconomic scenarios from the Federal Reserve’s bank stress test to the public sector balance sheet.

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Multi-Agent Financial Network (MAFN) Model of US Collateralized Debt Obligations (CDO)

Simulation in Computational Finance and Economics - Advances in Finance, Accounting, and Economics ◽

10.4018/978-1-4666-2011-7.ch012 ◽

2013 ◽

pp. 225-254 ◽

Cited By ~ 1

Author(s):

Sheri M. Markose ◽

Bewaji Oluwasegun ◽

Simone Giansante

Keyword(s):

Systemic Risk ◽

Stress Test ◽

Balance Sheet ◽

Collateralized Debt Obligations ◽

Financial Network ◽

Balance Sheets ◽

The Us ◽

Credit Risk Transfer ◽

Multi Agent ◽

Collateralized Debt

A database driven multi-agent model has been developed with automated access to US bank level FDIC Call Reports that yield data on balance sheet and off balance sheet activity, respectively, in Residential Mortgage Backed Securities (RMBS) and Credit Default Swaps (CDS). The simultaneous accumulation of RMBS assets on US banks’ balance sheets and also large counterparty exposures from CDS positions characterized the $2 trillion Collateralized Debt Obligation (CDO) market. The latter imploded at the end of 2007 with large scale systemic risk consequences. Based on US FDIC bank data, that could have been available to the regulator at the time, the authors investigate how a CDS negative carry trade combined with incentives provided by Basel II and its precursor in the US, the Joint Agencies Rule 66 Federal Regulation No. 56914, which became effective on January 1, 2002, on synthetic securitization and Credit Risk Transfer (CRT), led to the unsustainable trends and systemic risk. The resultant market structure with heavy concentration in CDS activity involving 5 US banks can be shown to present too interconnected to fail systemic risk outcomes. The simulation package can generate the financial network of obligations of the US banks in the CDS market. The authors aim to show how such a Multi-Agent Financial Network (MAFN) model is well suited to monitor bank activity and to stress test policy for perverse incentives on an ongoing basis.

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GREATER EURASIA IN THE NEW POLITICAL AND ECONOMIC REALITY

Urgent Problems of Europe ◽

10.31249/ape/2021.01.02 ◽

2021 ◽

pp. 28-63

Author(s):

Georgii Kutyrev

Keyword(s):

Stress Test ◽

The United States ◽

National Interests ◽

Sovereign Equality ◽

The Us ◽

Economic Sphere ◽

The Face ◽

Assertive Behavior ◽

Economic Reality ◽

Geographical Dimension

The COVID-19 pandemic has subjected international relations to a severe stress test - at the level of both individual states and multilateral associations. Among the obvious challenges are the economic crisis, the crisis of global governance, the growth of protectionist and isolationist sentiments, the growing military confrontation along the US-China axis. The article focuses on two important areas of integration of the Greater Eurasia project - in the field of defense and security and in the economic sphere in the context of the pandemic. The first part of the article examines the challenges associated with the defense and security sector of Greater Eurasia, using the example of military cooperation between China and Russia. It is concluded that by 2016, an «average» level of military interaction had been achieved in Russian-Chinese relations, which opens up opportunities for further integration. However, given that relations between the two great powers are built on the basis of respect for national interests and sovereign equality, further military integration of Russia and China is being questioned. It is noted that in the face of growing contradictions between the PRC and the United States, the pandemic contributed to a more self-confident and assertive behavior of Beijing in the foreign arena. The second part of the article examines the economic and geographical dimension of the integration of Greater Eurasia on the example of relations between the Russian Federation and the PRC in the trade and economic sphere. It is indicated that the absence of an agreement on an additional reduction in oil production between Saudi Arabia, Russia and other OPEC+ countries and the corresponding collapse of oil prices have a significant impact on the development of economic integration in Greater Eurasia. Scenarios for the further economic development of this regional international community after the pandemic are proposed.

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