Showing 1 - 10 of 511
relationship between clarity and market volatility prior to and during the early stage of the global financial crisis. As the … crisis unfolded, there is no longer robust evidence of a negative connection. We conclude that reducing noise using clear … reports is possible but not without challenges, especially in times of crisis. …
Persistent link: https://www.econbiz.de/10010959473
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 …
Persistent link: https://www.econbiz.de/10011142183
of more crisis prone regimes suggests no simple dividing line between safe floats and risky intermediate regimes. …
Persistent link: https://www.econbiz.de/10011123856
nature of the crisis? Contrary to the commonly held view that foreign banks play a stabilizing role during domestic banking …
Persistent link: https://www.econbiz.de/10011242311
The aim of this paper is to analyze the dynamic effect of social and political instability on output. Using a panel of up to 183 countries from 1980 to 2010, the results of the paper suggest that social conflicts have a significant and negative impact on output in the short-term with the...
Persistent link: https://www.econbiz.de/10011242339
To date, an operational measure of systemic risk capturing non-linear tail comovement between system-wide and individual bank returns has not yet been developed. This paper proposes an extension of the so-called CoVaR measure that captures the asymmetric response of the banking system to...
Persistent link: https://www.econbiz.de/10011142002
with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been … reduced since then. Structural and cyclical changes after the crisis, including decreasing demand for currency hedges and the …
Persistent link: https://www.econbiz.de/10011142019
sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by …
Persistent link: https://www.econbiz.de/10011142021
We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with...
Persistent link: https://www.econbiz.de/10011142044
In the wake of the recent global crisis the international community is giving an increased focus on stability of the …
Persistent link: https://www.econbiz.de/10011142045