Adams, Zeno; Füss, Roland; Gropp, Reint - Research Center SAFE (Sustainable Architecture for … - 2013
(commercial banks, investment banks, hedge funds, and insurance companies) we show that while small during normal times …, equivalent shocks lead to considerable spillover effects in volatile market periods. Commercial banks and, especially, hedge … funds appear to play a major role in the transmission of shocks to other financial institutions. Using daily data, we can …