Barattieri, Alessandro; Eden, Maya; Stevanovic, Dalibor - Centre Interuniversitaire de Recherche en Analyse des … - 2013
We propose a measure of the extent to which a financial sector is connected to the real economy. The Measure of Connectedness is the share of credit market instruments represented by claims whose direct counterpart belongs to the non-financial sectors. The aggregate U.S. Measure of Connectedness...