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CISS - a composite indicator of systemic stress in the financial system

Holló, Dániel; Kremer, Manfred; Duca, Marco Lo - European Central Bank - 2012

This paper introduces a new indicator of contemporaneous stress in the financial system named Composite Indicator of Systemic Stress (CISS). Its specific statistical design is shaped according to standard definitions of systemic risk. The main methodological innovation of the CISS is the...

Persistent link: https://www.econbiz.de/10010538811

The role of credit aggregates and asset prices in the transmission mechanism: a comparison between the euro area and the US

Kaufmann, Sylvia; Valderrama, Maria Teresa - European Central Bank - 2007

We analyze the interaction between credit and asset prices in the transmission of shocks to the real economy. We estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate. We find evidence for two distinct states in both regions....

Persistent link: https://www.econbiz.de/10005530956

CISS - a composite indicator of systemic stress in the financial system

Holló, Dániel; Kremer, Manfred; Lo Duca, Marco - European Central Bank - 2012

Persistent link: https://www.econbiz.de/10010686804

The transformation of the European financial system : second ECB Central Banking Conference, October 2002, Frankfurt, Germany

Gaspar, Vítor (contributor) - 2003

Persistent link: https://www.econbiz.de/10004719190

Report on financial structures

2002

Persistent link: https://www.econbiz.de/10004775182

Competition and stability: what's special about banking?

Carletti, Elena; Hartmann, Philipp - European Central Bank - 2002

This paper examines the relationship between competition policies and policies to preserve stability in the banking … considerations for payment systems. A core part of the paper is an analysis of the relative roles of competition and supervisory … countries giving a stronger role to prudential supervisors than to competition authorities and other countries doing it the …

Persistent link: https://www.econbiz.de/10005344959

Why accounting matters: a central bank perspective

Schwarz, Claudia; Karakitsos, Polychronis; Merriman, Niall - European Central Bank - 2014

This paper analyses how accounting frameworks can affect three important areas of responsibility of many central banks, namely monetary policy, financial stability and banking supervision. The identified effects of accounting rules and accounting information on the activities of a central bank...

Persistent link: https://www.econbiz.de/10011115258

Commitment in Symmetric Contests

Possajennikov, Alex - University <Nottingham> / Department of Economics - 2008

The paper proves that in two-player logit form symmetric contestswith concave success function, commitment to a particular strategydoes not increase a player's payo, while in contests with more thantwo players it does. The paper also provides a contest-like game inwhich commitment does not...

Persistent link: https://www.econbiz.de/10005868568

Strategic bi-sourcing

Beladi, Hamid; Mukherjee, Arijit - University of Texas <San Antonio, Tex.>; University … - 2008

profitable strategyunder both monopoly and product market competition. The incentive for bi-sourcingdepends on the product market … and outside input market competition... …

Persistent link: https://www.econbiz.de/10005868579

FINANCIAL PREDATION BY THE WEAK

Bougheas, Spiros; Saksit Thananittayaudom - University <Nottingham> / Department of Economics - 2005

We examine a Stackelberg game where a financially constrainedleader faces competition from a ‘deep pocket’ follower. We …

Persistent link: https://www.econbiz.de/10005868761