This authoritative handbook illustrates practical
implementation of simulation techniques in the banking and financial
industries through use of real-world, time-sensitive applications. Striking
a balance between theory and practice, it demonstrates how simulation
algorithms can be used to solve practical problems and showcases how
accuracy and efficiency in implementing various simulation methods can be
used as indispensable tools in risk management. It also covers topics such
as volatility, fixed-income derivatives, LIBOR Market Models, risk measures,
and includes over two-dozen recognized simulation models.