UK Campus
Nottingham University Business School
   
   

Kevin Dowd, Emeritus Professor

BA (Sheffield) (1980), MA (Western Ontario) (1981), PhD (Sheffield) (1988)
Emeritus Professor
E-mail: k.dowd@nottingham.ac.uk
Location:  


Research Interests
Pensions and insurance; financial risk measurement and management; monetary economics; political economy.


Memberships, Directorships, Fellowships & Awards
2001 - Ongoing    Fellow of the Pensions Institute, Cass Business School
2002 - Ongoing    Director of research at Black Swann Risk Advisors in Berkeley, California
2003 - Ongoing    Member of the Academic Advisory Board, Institute of Economic Affairs
2001 - Ongoing    Trustee of the Sir John Hicks Foundation
2006 - Ongoing    Member of the Editorial Board, Journal of Risk Model Validation.
1991 - Ongoing    Adjunct Scholar to the Cato Institute in Washington
2004 - Ongoing    Member of the Academic Advisory Board, Taxpayer Alliance (London)
2001 - Ongoing    Member of the Academic Advisory Board, Open Republic Institute (Dublin)
2004 - Ongoing    Editorial board of International Journal of Intelligent System in Accounting, Finance and Management.
2003 - Ongoing    Editorial board of Cato Journal.
2006 - Ongoing    Editorial Board of Journal of Portfolio Management.
2006 - Ongoing    Associate Editor - Journal of Risk.
2007 - Ongoing    Member of the LifeMetrics Advisory Group advising on JP Morgan's LifeMetrics.
2007 - 2007    Guest editor, Journal of Risk, Special Issue on Backtesting.
2000 - 2006    Associate Editor - Greek Economic Review.
2003 - 2006    Member of the Faculty and Institute of Actuaries' Working Party on Risk Management in Life Assurance.
1991 - 2000    Member of the Academic Advisory Councils to: Libertarian Alliance (London)
1991 - 2000    Mebmer of the Academic Advisory Council, FOREST (London)
The following lists my publications from 1996 to the present day.

Journal Articles

Sorwar, G.; Mozumder, S.; Dowd, Emeritus Professor, K.(2012)., "Skewness Models for Option Pricing and Option Portfolio Approximation", Review of Quantitative Finance and Accounting, forthcoming 2012.

Sorwar, G.; Dowd, K.(2010)., "Estimating Financial Risk Measures for Options", Journal of Banking and Finance, Vol.34, pp. 1982-1992.

Dowd, K.; Woods, M.(2009)., "Pensions Risk", Financial Management (CIMA), Vol.February, pp. 45-47.

Humphrey, C.; Woods, M.; Dowd, K.(2009)., "Responding to a good crisis - challenging questions for bank auditors (1)", Financial Services Focus, ICAEW, London, May.

Humphrey, C.; Woods, M.; Dowd, K.(2009)., "Responding to a good crisis - challenging questions for bank auditors (II)", Financial Services Focus, ICAEW, London, June.

Woods, M.; Dowd, K.(2009)., "Financial Risk Management for Management Accountants", Society of Management Accountants Canada, American Institute of Certified Public Accountants and Chartered Institute of Management Accountants.

Woods, M.; Humphrey, C.; Dowd, K.; Yu-Lin, L.(2009)., "Crunch time for bank audits? Questions of practice and scope for dialogue", Managerial Auditing Journal.

Blake, D.; Cairnes, A.; Dowd, K.(2008)., "The birth of the life market", Asia-Pacific Journal of Risk and Insurance, forthcoming 2008.

Blake, D.; Dowd, K.; Cairnes, A.(2008)., "Longevity Risk and the Grim Reaper's Toxic Tail: The Survivor Fan Charts", Insurance: Mathematics and Economics, forthcoming 2008.

Dowd, K.(2008)., "The GDP Fan Charts An Empirical Evaluation", National Institute Economic Review, Vol.January, pp. 59-67.

Dowd, K.(2008)., "Copulas in Macroeconomics", Journal of International and Global Economic Studies, forthcoming 2008.

Dowd, K.; Bartlett, D.; Chaplin, M.; Kelliher, P.; O'Brien, C.(2008)., "Risk management in the UK insurance industry the changing state of practice", International Journal of Financial Services Management, Vol.3 (1), pp. 5-23.

Dowd, K.; Cotter, J.; Humphrey, C.; Woods, M.(2008)., "How unlucky is 25 sigma?", Journal of Portfolio Management, Vol.34(4), pp.76-80.

Sorwar, G.; Dowd, K.; Cotter, J.(2008)., "Spectral Risk Measure: Properties and Limitations", Journal of Financial Services Research, Vol.34, pp. 71-75.

Woods, M.; Dowd, K.; Humphrey, C.(2008)., "The Value of Risk Reporting: A Critical Analysis of Value-at-Risk Disclosures in the Banking Sector", International Journal of Financial Services Management, Vol.8 (1), pp. 45-64.

Blake, D.; Cairns, A.; Dowd, K.(2007)., "The Impact of Occupation and Gender Differences on Defined-Contribution Pension Plans", Geneva Papers on Risk and Insurance - Issues and Practice, forthcoming 2007.

Byrne, A.; Blake, D.; Cairnes, A.; Dowd, K.(2007)., "Default Funds in UK Defined Contribution Pension Plans", Financial Analysts Journal, Vol.63 (4), pp. 40-51.

Dowd, K.(2007)., "The Pagan Report on Modelling and Forecasting at the Bank of England", Greek Economic Review, forthcoming 2007.

Dowd, K.(2007)., "Too Good to be True? The (In)credibility of the UK Inflation Fan Charts", Journal of Macroeconomics, Vol.29 (1), pp.91-102.

Dowd, K.(2007)., "Validating Multiple-Period Density Forecasting Models", Journal of Forecasting, Vol.26 (4), pp. 251-270.

Dowd, K.(2007)., "Temporal Dependence in Multi-Step Density Forecasting Models", Journal of Risk Model Validation, Vol.1 (1), pp. 3-22.

Dowd, K.(2007)., "Guest Editorial Journal of Risk Special Issue on Backtesting", Journal of Risk, Vol.9 (2), v-vi.

Dowd, K.(2007)., "Backtesting the RPIX Inflation Fan Charts", Journal of Risk Model Validation, Vol.1 (3), pp. 1-19.

Dowd, K.(2007)., "Probable Maximum Loss An Almost Ideal Risk Measure?", Financial Engineering News, Vol.54, March-April, http//www.fenews.com/fen54/risk-reward/riskreward.htm.

Dowd, K.(2007)., "Risk Management vs. Statistics: Correlation Volatility and the Principle of Prudence", Financial Engineering News, Vol.53 (January-February), pp. 15, 20.

Dowd, K.; Cotter, J.(2007)., "Exponential Spectral Risk Measures", ICFAI Journal of Mergers and Acquisitions, Vol.5 (4), pp. 57-66.

Aragones, J.; Blanco, C.; Dowd, K.(2006)., "The Ghost at the Banquet Managing Model Risk", Futures and Options World.

Blake, D.; Cairnes, A.; Dowd, K.; MacMinn, R.(2006)., "Longevity Bonds: Financial Engineering, Valuation and Hedging", Journal of Risk and Insurance, Vol.73 (4), pp. 647-672.

Blake, D.; Cairns, A.; Dowd, K.(2006)., "Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities", British Actuarial Journal, Vol.12 (1), pp. 153-197.

Byrne, A.; Blake, D.; Cairns, A.; Dowd, K.(2006)., "There's No Time Like the Present: The Cost of Delaying Retirement Saving", Financial Services Review, Vol.15, pp. 213-231.

Cairns, A.; Blake, D.; Dowd, K.(2006)., "Stochastic Lifestyling: Optimal Dynamic Asset Allocation for Defined-Contribution Pension Plans", Journal Economic Dynamics and Control, Vol.30, pp.843-877.

Cairns, A.; Blake, D.; Dowd, K.(2006)., "A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty: Theory and Calibration", Journal of Risk and Insurance, Vol.73 (4), pp. 687-718.

Cotter, J.; Dowd, K.(2006)., "Extreme Spectral Risk Measures: An Application to Futures Clearinghouse Margin Requirements", Journal of Banking and Finance, Vol.30 (12), pp. 3469-3485.

Dowd, K.(2006)., "FOMC Macroeconomic Forecasts: A Non-Parametric Analysis", International Journal of Applied Economics, Vol.3 (2), pp. 1-8.

Dowd, K.(2006)., "Using Order Statistics to Estimate Confidence Intervals for Probabilistic Risk Measures", Journal of Derivatives, Vol.14 (2), pp. 77-81.

Dowd, K.(2006)., "Backtesting Risk Models within a Standard Normality Framework", Journal of Risk, Vol.9 (2), pp. 93-111.

Dowd, K.(2006)., "The Invisible Problem of Risk Blindness", Financial Engineering News, Vol.52 (November-December), pp. 27, 34.

Dowd, K.(2006)., "The State of Risk Management", Financial Engineering News, Vol.48 (March-April), pp. 17-18.

Dowd, K.(2006)., "Taking the Long-Term View", Financial Engineering News, Vol.51, pp. 27, 30.

Dowd, K.(2006)., "How to Become a Good Financial Engineer", Financial Engineering News, Vol.47 (January-February), 13, 16.

Dowd, K.; Blake, D.(2006)., "After VaR: The Theory, Estimation, and Insurance Applications of Quantile-based Risk Measures", Journal of Risk and Insurance, Vol.73 (2), pp. 193-228.

Dowd, K.; Blake, D.; Cairns, A.(2006)., "The Grave Problem of Longevity Risk", Financial Engineering News, Vol.49 (September-October), pp. 19, 30.

Dowd, K.; Blake, D.; Cairns, A.; Dawson, P.(2006)., "Survivor Swaps", Journal of Risk and Insurance, Vol.73 (1), pp.1-17.

Dowd, K.; Cairnes, A.; Blake, D.(2006)., "Mortality-Dependent Measures of Financial Risk", Insurance: Mathematics and Economics, Vol.38, pp. 427-440.

Dowd, K.; Oliver, P.(2006)., "Temporal Aggregation of GARCH Volatility Processes: A (Partial) Rehabilitation of the Square-Root Rule", Journal of Accounting and Finance, Vol.5, pp. 51-60.

Blake, D.; Cairns, A.; Cox, S.; Dawson, P.; Dowd, K.; MacMinn, R.(2005)., "UK The Benefits of Longevity Bonds", Pensions International, Vol.67 (February 2005), pp. 6-7.

Blanco, C.; Dowd, K.; Mark, R.(2005)., "Russian Roulette", Futures and Options World, Vol.April 2005, pp. 45 - 48.

Blanco, C.; Dowd, K.; Mark, R.(2005)., "A Liquid Diet", Futures and Options World, Vol.June 2005, pp. 43-46.

Blanco, C.; Dowd, K.; Mark, R.(2005)., "Art or Science?", Futures and Options World, Vol.May 2005, pp. 50-53.

Cairns, A.; Blake, D.; Dawson, P.; Dowd, K.(2005)., "Pricing Risk on Longevity Bonds", Life & Pensions, Vol.1 (2), pp. 41-44.

Dowd, K.(2005)., "Risk Management: Some Guidelines for Practitioners", Risk Management, Vol.6, pp. 31-34.

Dowd, K.(2005)., "Copulas and Coherence Portfolio Analysis in a Non-Normal World", Journal of Portfolio Management, Vol.30 (Fall), pp. 123-127.

Dowd, K.(2005)., "Coherent Risk Measures", Financial Engineering News, Vol.41 (January-February), pp.9-10.

Dowd, K.(2005)., "Everything You Need to Know About Backtesting", Financial Engineering News, Vol.48 (September-October 2005), pp. 19, 22.

Dowd, K.(2005)., "Spectral Risk Measures", Financial Engineering News, Vol.42 (March-April 2005), pp. 11-12.

Dowd, K.(2005)., "Estimating Risk Measures", Financial Engineering News, Vol.43 (May-June 2005), pp. 13, 16.

Dowd, K.(2005)., "Evaluating Copulas", Financial Engineering News, Vol.46 (November-December), pp. 7, 10.

Dowd, K.(2005)., "Hedge Funds Losses, Credit Derivatives and Dr. Li's Copula", Financial Engineering News, Vol.46 (November-December), pp. 1, 4.

Dowd, K.(2005)., "Distortion Risk Measures", Financial Engineering News, Vol.44 (July-August 2005), pp. 7, 12, 14.

Dowd, K.; Blake, D.; Cairns, A.(2005)., "PensionMetrics: Designing Defined-Contribution Pension Schemes", Risk, Vol.18 (5), pp. 81-82.

Dowd, K.; Blake, D.; Cairns, A.(2005)., "Simulating DC Outcomes", Investment and Pensions Europe, Vol.October, p. 29.

Dowd, K.; Blanco, C.; Mark, R.(2005)., "Stress Test", Futures and Options World, Vol.March, pp.58-62.

Dowd, K.; Blanco, C.; Mark, R.(2005)., "An Integrated Framework", Futures and Options World, Vol.February, pp.50-55.

Kelliher, P.; Bartlett, D.; Chaplin, M.; Dowd, K.; O'Brien, C.(2005)., "Liquidity Risk in Life Insurance", The Actuary, Vol.June, pp. 24-25.

Dowd, K.(2004)., "A Modified Berkowitz Backtest", Risk, Vol.17 (4), p.86.

Dowd, K.(2004)., "Rejoinder to Huang", Journal of Portfolio Management, Vol.30 (3), p.127.

Dowd, K.(2004)., "The Inflation 'Fan Charts': An Evaluation", Greek Economic Review, Vol.23 (1), pp.99-111.

Dowd, K.(2004)., "An Informal Introduction to Copulas", Financial Engineering News, pp.15-20.

Dowd, K.(2004)., "Subadditivity and VaR", Financial Engineering News, Vol.40 (November), pp.7-10.

Dowd, K.; Blake, D.; Cairns, A.(2004)., "Long-term Value at Risk", Journal of Risk Finance, Vol.5 (2), pp.52-57.

Dowd, K.; Fackler, P.(2004)., "Estimating VaR with Copulas", Financial Engineering News, Vol.39 (September-October), pp.9-21.

O'Brien, C.; Dowd, K.(2004)., "Stochastic Modelling Enhancing Life Insurers' Risk Management", Practical Investors' Journal, Vol.2 (Winter), pp.8-12.

Dowd, K.(2003)., "Survivor Bonds: A Comment on Blake and Burrows", Journal of Risk and Insurance, Vol.70 (2), pp.339-348.

Dowd, K.(2003)., "Measuring Annuity Risks", Journal of Accounting and Finance, Vol.2, pp.99-107.

Dowd, K.; Blake, D.; Cairns, A.(2003)., "PensionMetrics 2: Stochastic Pension Plan Design During the Distribution Phase", Insurance: Mathematics and Economics, Vol.33, pp.29-47.

Dowd, K.(2002)., "A Bootstrap Backtest", Risk, Vol.15 (10), pp.93-94.

Dowd, K.(2002)., "Assessing the Pre-Commitment Approach to Bank Capital Regulation", Journal of Risk Finance, Vol.3 (4), pp.35-40.

Dowd, K.(2002)., "Estimating Expected Tail Loss", Financial Engineering News, Vol.25, pp.3-5.

Dowd, K.; Chappell, D.(2002)., "The Optimal Extraction of a Privately Owned Renewable Resource", The Mathematical Scientist, Vol.27 (2), pp.75-79.

Aragones, J.; Blanco, C.; Dowd, K.(2001)., "Incorporating Stress Tests into Market Risk Modelling", Derivatives Quarterly, Vol.7 (3), pp.44-49.

Blake, D.; Cairns, A.; Dowd, K.(2001)., "Pensionmetrics: Stochastic Pension Plan Design and Value-at-Risk During the Accumulation Phase", Insurance: Mathematics and Economics, Vol.29 (2), pp.187-215.

Dowd, K.(2001)., "Central Banks: Who Needs Them?", Policy Options, pp.37-40.

Dowd, K.(2001)., "Estimating VaR with Order Statistics", Journal of Derivatives, Vol.8 (3), pp.23-30.

Dowd, K.(2001)., "The Emergence of Fiat Money: A Reconsideration", Cato Journal, Vol.20 (3), pp.467-476.

Dowd, K.(2001)., "Estimating the Failure Probabilities of Financial Institutions: A Simple Approach", Journal of Risk Finance, Vol.2 (4), pp.33-38.

Dowd, K.(2001)., "Sharp Thinking", Risk, Vol.Risk Management for Investors Special Report, pp.34-S37.

Dowd, K.(2001)., "Enterprise Risk Management: A Better Option", Chartered Financial Analyst, Vol.7 (4), pp.28-29.

Dowd, K.; Chappell, D.(2001)., "The Optimal Monopolistic Extraction of a Durable Natural Resource", Greek Economic Review, Vol.21 (1), pp.53-61.

Dowd, K.; Cronin, D.(2001)., "Does Monetary Policy Have a Future?", Cato Journal, Vol.21 (2), pp.227-244.

Dowd, K.(2000)., "Assessing VaR Accuracy", Derivatives Quarterly, Vol.6 (3), pp.61-63.

Dowd, K.(2000)., "Using Futures Prices to Control Inflation: Reply to Garrison and White", Journal of Money, Credit and Banking, Vol.32 (1), pp.142-145.

Dowd, K.(2000)., "Estimating Value-at-Risk: A Subjective Approach", Journal of Risk Finance, Vol.1 (4), pp.43-46.

Dowd, K.(2000)., "Adjusting for Risk: An Improved Sharpe Ratio", International Review of Economics and Finance, Vol.9,3, pp.209-222.

Dowd, K.(2000)., "Accounting for Value at Risk", Journal of Risk Finance, Vol.2 (1), pp.51-58.

Dowd, K.(2000)., "Are Free Markets the Cause of Financial Instability?", Critical Review, Vol.14 (1), pp.57-67.

Dowd, K.(2000)., "Bank Capital Adequacy Versus Deposit Insurance", Journal of Financial Services Research, Vol.17 (1), pp.7-15.

Dowd, K.(2000)., "VaR vs. Expected Tail Loss", Derivatives Week, pp.6-7.

Dowd, K.(2000)., "Improving the Sharpe Ratio", Financial Engineering News, Vol.3 (7).

Dowd, K.; Aragones, J.; Blanco, C.(2000)., "Extreme Value VaR", Derivatives Week, pp.7-8.

Dowd, K.; Aragones, J.; Blanco, C.(2000)., "Extreme Value VaR (2)", Derivatives Week, pp.8-9.

Dowd, K.; Aragones, J.; Blanco, C.(2000)., "Aproximación del Valor de Riesgo a Través de la Teoría del Valor Extremo", Analisis Financiero, Vol.82, pp.78-85.

Dowd, K.; Blake, D.; Cairns, A.(2000)., "Extrapolating VaR by The Square-Root Rule", Financial Engineering News, Vol.3 (7).

Dowd, K.; Harrison, B.(2000)., "The Gibson Paradox and the Gold Standard: Evidence from the United Kingdom, 1821-1913", Applied Economics Letters, Vol.7,11, pp.711-713.

Dowd, K.(1999)., "A VaR Approach to Risk-Return Analysis", Journal of Portfolio Management, Vol.25, pp.60-67.

Dowd, K.(1999)., "Too Big to Fail? Long-Term Capital Management and the Federal Reserve", Cato Institute Briefing Paper No 52.

Dowd, K.(1999)., "Does Asymmetric Information Justify Bank Capital Adequacy Regulation", Cato Journal, Vol.19 (1), pp.39-41.

Dowd, K.(1999)., "An Almost Ideal Monetary Rule", Greek Economic Review, Vol.19 (2), pp.53-62.

Dowd, K.(1999)., "Financial Risk Management", Financial Analysts Journal, Vol.55 (4), pp.65-71.

Dowd, K.(1999)., "The Extreme Value Approach to VaR: An Introduction (4)", Financial Engineering News, pp.1-5.

Dowd, K.(1999)., "The Extreme Value Approach to VaR: An Introduction (1), (2)", Financial Engineering News, p.1,2,6.

Dowd, K.(1999)., "The Extreme Value Approach to VaR: An Introduction (3)", Financial Engineering News, pp.1-2.

Dowd, K.; Chappell, D.(1999)., "Confidence Intervals for VaR", Financial Engineering News, pp.1-2.

Dowd, K.(1998)., "VAR by Increments", 'Risk' Special Report on Enterprise-Wide Risk Management, pp.31-32.

Dowd, K.(1998)., "The 'Battle of the Systems': A Comment on Tilly", Journal of Institutional and Theoretical Economics, Vol.154 (1), pp.39-43.

Dowd, K.(1998)., "Monetary Policy in the 21st Century: An Impossible Task?", Cato Journal, Vol.17 (3), pp.327-331.

Dowd, K.(1997)., "The Regulation of Bank Capital Adequacy", Advances in Austrian Economics, Vol.4, pp.95-110.

Dowd, K.(1997)., "Anarchy, Warfare and Social Order: Comment on Hirshleifer", Journal of Political Economy, Vol.105, 3, pp.648-651.

Dowd, K.; Chappell, D.(1997)., "A Simple Model of the Gold Standard", Journal of Money, Credit and Banking, Vol.29, 1, pp.94-105.

Dowd, K.(1996)., "Re-examining the Case for Government Deposit Insurance: Reply", Southern Economics Journal, Vol.62, 4, p.1092.

Dowd, K.(1996)., "The Analytics of Bimetallism", Manchester School, Vol.64, 3, pp.281-297.

Dowd, K.(1996)., "Some Unpleasant Budgetary Arithmetic of a Proposal to End Inflation: A Reply", Economic Journal, Vol.106, 436, pp.635-636.

Dowd, K.(1996)., "Costly Verification and Banking", Oxford Economic Papers, Vol.48 (4), pp.601-617.

Dowd, K.(1996)., "The Case for Financial Laissez-Faire", Economic Journal, Vol.106 (436), pp.679-687.



Books

Dowd, K.(2005), Measuring Market Risk, (Second Edition), Chichester and New York, John Wiley and Sons.

Dowd, K.(2005), Competition and Finance: A New Interpretation of Financial and Monetary Economics, (Chinese Language Edition), China Renmin University Press.

Dowd, K.(2002), An Introduction to Market Risk Measurement, Chichester and New York, John Wiley & Sons, Paperback.

Dowd, K.(2002), Measuring Market Risk, Chichester and New York, John Wiley & Sons, Hardback.

Dowd, K.(2000), Money and The Market: Essays on Free Banking, London & New York, Routledge, Hardback.

Dowd, K.(1998), Beyond Value at Risk: The New Science of Risk Management, Chichester & New York, Wiley & Sons.

Dowd, K.; Timberlake, R.J.(1998), ed Money and The Nation State: The Financial Revolution, Government and The World Monetary System, New Brunswick, NJ, Transaction (under the auspices of the Independent Institute), Foreword Miller, Merton H.

Dowd, K.(1996), Laissez-Faire Banking, London, Routledge, Paperback Edition.

Dowd, K.(1996), Competition and Finance: A New Interpretation of Financial and Monetary Economics, Basingstoke and New York, Macmillan Press & St Martin's Press.

Dowd, K.(1996), Private Money: The Path to Monetary Stability, London, Hobart Paper No. 112 Institute of Economic Affairs, Second Edition.

Dowd, K.(1996), ed The Experience of Free Banking, London, Routledge.

Dowd, K.; Lewis, M.(1992), ed Current Issues in Monetary Theory and Policy, London, Macmillan.

Dowd, K.(1989), The State and the Monetary System, Oxford, Philip Allan Publishers.



Chapters in Books

Blake, D.; Dowd, K.(2008)., "Life Securitization", in Melnick, E.; Everritt, B. (ed) The Encyclopedia of Quantitative Risk Assessment, Wiley, forthcoming 2008.

Dowd, K.(2008)., "Model Risk", in Fabozzi, F. J. (ed) Handbook of Finance, Wiley, forthcoming 2008.

Dowd, K.(2008)., "Backtesting Market Risk Models", in Fabozzi, F. J. (ed) Handbook of Finance, Wiley, forthcoming 2008.

Dowd, K.(2007)., "A Moment-based Procedure for Evaluating Risk Forecasting Models", in Satchell, S. (ed) Analytics of Risk Model Validation, (Chapter 4), pp. 45-59, Elsevier.

Blanco, C.; Mark, R.; Dowd, K.; Kremke, K.(2006)., "Liquidity Risk Management and Management for Energy Firms", in Fusaro, P. (ed) The Professional Risk Manager's Guide to Energy and Environmental Markets Risk Management, pp. 135-146, Wilmington DE., PRIMA Publications, Chapter 10.

Blanco, C.; Mark, R.; Dowd, K.; Murdoch, W.(2006)., "Market Risk Measurement and Management for Energy Firms", in Fusaro, P. (ed) The Professional Risk Manager's Guide to Energy and Environmental Markets Risk Management, pp. 62-82, Wilmington DE, PRIMA Publications, Chapter 6.

Blanco, C.; Mark, R.; Dowd, K.; Murdoch, W.(2006)., "Best Practices in Credit Risk Management for Energy and Commodity Derivatives", in Fusaro, P. (ed) The Professional Risk Manager's Guide to Energy and Environmental Markets Risk Management, pp. 83-96, Wilmington DE, PRIMA Publications, Chapter 7.

Dowd, K.(2006)., "Retrospective Assessment of Value-at-Risk", in Risk Management: A Modern Perspective, pp. 183-202, San Diego, Elsevier.

Dowd, K.(2006)., "Forecasting Inflation: The Inflation 'Fan Charts", in Issues in Monetary Policy: The Relationship Between Money and Financial Markets, pp. 80-93, Chichester, John Wiley & Sons.

Dowd, K.(2004)., "Value at Risk", in Encyclopaedia of Actuarial Science, pp.1740-1748.

Dowd, K.(2004)., "Qualitative Dimensions in Finance and Risk Management Research", in Humphrey, C.; Lee, W. (ed) The Real Life Guide to Accounting Research: A Behind-the-Scenes View of Using Qualitative Research Methods, pp.507-521, Amsterdam, Elsevier.

Dowd, K.; Rowe, D.(2004)., "Introduction to VaR Models", in Alexander, C.; Sheedy, E. (ed) The Professional Risk Managers' Handbook: A Comprehensive Guide to Current Theory and the Best Practices, p.2, Prima Professional Publishing.

Dowd, K.(2003)., "Free Banking", in Mullineux, A.; Murindes, V. (ed) Handbook of International Banking, pp.173-190, Cheltenham, Edward Elgar.

Dowd, K.(2002)., "Gold Standard", in Snowdon, B.; Vane, H. (ed) An Encyclopaedia of Macroeconomics, pp.293-296, Cheltenham, Edward Elgar.

Dowd, K.(2002)., "Time Inconsistency", in Snowdon, B.; Vane, H. (ed) An Encyclopaedia of Macroeconomics, pp.699-703, Cheltenham, Edward Elgar.

Dowd, K.(1999)., "Participation in Civil Society", in D Campbell & ND Lewis (ed) Promoting Participation: Law & Politics?, pp.31-43, London & Syndey, Cavendish Publishing Ltd.



Conferences

Humphrey, C.; Woods, M.; Dowd, K., 2009, "See and be seen", at Financial Services Focus, ICAEW, London, June.

Humphrey, C.; Woods, M.; Dowd, K., 2009, "Greater visibility (II)", at Financial Services Focus, ICAEW, London, July/August.



Discussion Papers

Cairnes, A.; Blake, D.; Dowd, K.; Coughlan, G.; Epstein, D.; Ong, A.; Balevich, I., 2007, "A Quantitative Comparison of Stochastic Mortality Models Using Data from England & Wales and the United States", Pensions Institute Discussion Paper.

Cairns, A.; Blake, D.; Dowd, K., 2006, "Pricing Death Frameworks for the Valuation and Securitization of Mortality Risk", CRIS Discussion Paper.

Dowd, K., 2006, "Too Good to be True? The (In)credibility of the UK Inflation Fan Charts", CRIS Discussion Paper.

Dowd, K.; Blake, D., 2006, "After VaR The Theory, Estimation, and Insurance Applications of Quantile- Based Risk Measures", CRIS Discussion Paper.

Cairns, A.; Blake, D.; Dowd, K., 2005, "A Two-Factor Model for Stochastic Mortality with Parameter Uncertainty", CRIS Discussion Paper.

Cairns, A.; Blake, D.; Dowd, K., 2005, "Mortality-Dependent Financial Risk Measures", CRIS Discussion Paper.

Cotter, J.; Dowd, K., 2005, "Extreme Spectral Risk Measures An Application to Futures Clearinghouse Margin Requirements", CRIS Discussion Paper.

Dowd, K., 2005, "A Moment-based Procedure for Evaluating Risk Forecasting Models", CRIS Discussion Paper.

Dowd, K., 2005, "Validating multiple-period density forecasting models", CRIS Discussion Paper.

Kelliher, P.; Bartlett, D.; Chaplin, M.; Dowd, K.; O'Brien, C., 2005, "Liquidity management in UK life assurance a discussion paper", Report of the Faculty and Institute of Actuaries Working Paper on Risk Management in UK Life Assurers.

Dowd, K., 2004, "FOMC Forecasts of Macroeconomic Risks", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Dowd, K., 2004, "The GDP Fan Charts An Empirical Evaluation", CRIS Discussion Paper.

Dowd, K., 2004, "The Swedish Inflation Fan Charts: An Evaluation of the Riksbank's Inflation Density Forecasts", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Dowd, K.; Blake, D.; Cairns, A.; Dawson, P., 2004, "Survivor Swaps", CRIS Discussion Paper.

Woods, M.; Dowd, K.; Humphrey, C., 2004, "Credibility at Risk? The Accounting Profession, Risk Reporting and the Rise of VAR", CRIS Discussion Paper.

Cronin, D.; Dowd, K., 2003, "Electronic Currency and the Fiat-Money Price Level", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Dowd, K., 2003, "Backtesting the Bank: An Evaluation of the Bank of England's 'Fan Chart' approach to Inflation Forecasting", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Dowd, K., 2003, "Forecasting Longer-Term Volatility", Nottingham University Business School Discussion Paper, Nottingham University Business School.



Editorials

Blake, D.; Cairns, A.; Dowd, K., 2001, "Enhancing Annuities with Equity", in Journal of Pensions Management: An International Journal, pp.6-8.



Reports for external body

Bartlett, D.; Chaplin, M.; Dowd, K.; Kelliher, P.; O'Brien, C., 2005, "Risk Management by UK Life Assurers: A Survey", in Report for the Faculty and Institute of Actuaries Working Party on Risk Management in UK Life Assurers.



International Collaborations, Organisation & Contributions
2006 - 2006    "Living with Mortality: Longevity Bonds and Other Mortality-Linked Securities". (D. Blake, A. J. G. Cairns and K. Dowd) British Actuarial Journal, Volume 12, 2006, pp. 153-197. This paper won the This paper won the Faculty of Actuaries in Scotland Prize for the best paper in the 2005-2006 session, and was cited as "highly commended" by the Institute of Actuaries of England and Wales.
2003 - 2006    ESRC research fellowship on 'risk management in financial institutions' (worth £242k). This was rated as 'Outstanding'.

External Exminerships & Validations
2006 - 2006    External examiner on UG and masters finance programmes, Cass Business School.
2005 - 2005    External examiner for a PhD at Loughborough University.
2004 - 2004    External examiner on various master's programmes at Leicester Management Centre.

Nottingham University Business School

Jubilee Campus
Nottingham
NG8 1BB

telephone: +44 (0) 115 84 66602
fax: +44 (0) 115 84 66667
email: business-enquiries@nottingham.ac.uk