Stress Testing Without Illusion: Exploring Systemic Fragility After Design, Governance, and Diagnosis
Stress testing occupies a prominent place in modern financial stability practice. It is widely used, increasingly sophisticated, and often highly visible. Yet it is also frequently overstretched—asked to predict crises, certify resilience, or deliver assurance in systems that are inherently uncertain and adaptive. When stress testing is treated as a predictive or validating tool, it […]