Journal of Risk

Welcome to Volume 2 Issue 4 of The Journal of Risk. This issue is made up of 4 technical papers: ‘Value-at-risk and market crashes' by Chris Brooks and Gita Persand from the University of Reading; ‘Stress tests and risk capital' by Paul H. Kupiec from Freddie Mac; ‘Risk analysis and the NIG distribution' by Jostein Lillestol from The Norwegian School of Economics and Business Administration; and ‘Optimal option portfolios in markets with position limits and margin requirements' by Mordecai Avriel from the Bank of Hapoalim and Haim Reisman from the Israel Institute of Technology.