Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by … constructing an effective crisis stress test. It combines financial markets impact studies of previous exercises with relevant case …. Pertinent concepts, issues and nuances particular to crisis stress testing are also discussed. The findings may be useful for …

of more crisis prone regimes suggests no simple dividing line between safe floats and risky intermediate regimes. …

nature of the crisis? Contrary to the commonly held view that foreign banks play a stabilizing role during domestic banking …

-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an … important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to …This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new …

We examine how Korea’s capital flows and trade have been affected by the quantitative easing (QE) of the United … in the world market for trade. We find that QE had little direct impact on capital flows to Korea, and tapering is … the exchange rate spillover from QQME to Korea has been limited both on trade and capital flow fronts. …

the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the … strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy …

This paper examines the mechanisms through which output volatility is related to trade openness using an industry …-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to … international trade are more volatile. Second, trade is accompanied by increased specialization. Third, sectors that are more open …