偶然搜到这个老帖,挖一下坟。来一段国外的,因为国内的基本不区别这俩词,更没人在这抠,并且在08版GFC之前甚至没什么关于systemic risk的东西。如果能看懂,那就应该能理解了。
Systemic risk is generally used in reference to an event that can trigger a collapse in a certain industry or economy, whereas systematic risk refers to overall market risk. Systemic risk does not have an exact definition, many have used systemic risk to describe narrow problems, such as problems in the payments system, while others have used it to describe an economic crisis that was triggered by failures in the financial system. Generally, systemic risk can be described as a risk caused by an event at the firm level that is severe enough to cause instability in the financial system.
On the other hand, systematic risk does have a more recognized and universal definition. Sometimes plainly called market risk, systematic risk is the risk inherent in the aggregate market that cannot be solved by diversification. Some common sources of market risk are recessions, wars, interest rates and others that cannot be avoided through a diversified portfolio. Though systematic risk cannot be fixed with diversification, it can be hedged. Also, the risk that is specific to a firm or industry and can be solved by diversification is called unsystematic or idiosyncratic risk.
As an example of systemic risk, the collapse of Lehman Brothers in 2008 caused major reverberations throughout the financial system and the economy. Lehman Brother's size and integration in the economy caused its collapse to result in a domino effect that caused a major risk to the financial system in the U.S.
也就是说,11楼的回答应该是比较靠谱的,我是指名词和解释互换位置以后...也许11楼只是笔误,因为systemic是系统的,systematic是系统性,这个应该没有什么争议。
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