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Centrality-based Capital Allocations
Alter, Adrian; Craig, Ben; Raupach, Peter - International Monetary Fund (IMF) - 2014
We look at the effect of capital rules on a banking system that is connected through correlated credit exposures and interbank lending. The rules, which combine individual bank characteristics and interconnectivity measures of interbank lending, are to minimize a measure of system-wide losses....
Persistent link: https://www.econbiz.de/10011106151
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Addressing Interconnectedness; Concepts and Prudential Tools
Arregui, Nicolas; Norat, Mohamed; Pancorbo, Antonio; … - International Monetary Fund (IMF) - 2013
This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to … potential cross-sectional implications of prudential tools aimed at controlling interconnectedness. The paper examines two sets … of tools—developed at the IMF and externally—to identify the implications of interconnectedness in systemic risk and how …
Persistent link: https://www.econbiz.de/10011242274
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Central Counterparties: Addressing their Too Important to Fail Nature
Wendt, Froukelien - International Monetary Fund (IMF) - 2015
Central counterparties (CCPs) can offer significant benefits to a market. However, CCPs are also highly interconnected with financial institutions and markets and therefore too important to fail. The increased volumes cleared through CCPs and their increasing global scope, in particular in the...
Persistent link: https://www.econbiz.de/10011163124
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Interconnectedness, Systemic Crises and Recessions
Espinosa-Vega, Marco A; Russell, Steven - International Monetary Fund (IMF) - 2015
] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of … liquidating risky loans. Interconnectedness among their asset portfolios can obscure information about these portfolios, causing … interconnectedness. The optimal degree of regulation, which may depend on depositors’ degree of risk aversion, may not eliminate …
Persistent link: https://www.econbiz.de/10011242384
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The Global Impact of the Systemic Economies and MENA Business Cycles
Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi - International Monetary Fund (IMF) - 2012
This paper analyzes spillovers from macroeconomic shocks in systemic economies (China, the Euro Area, and the United States) to the Middle East and North Africa (MENA) region as well as outward spillovers from a GDP shock in the Gulf Cooperation Council (GCC) countries and MENA oil exporters to...
Persistent link: https://www.econbiz.de/10010790399
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Why Complementarity Matters for Stability—Hong Kong SAR and Singapore as Asian Financial Centers
Lesle, Vanessa Le; Ohnsorge, Franziska; Kim, Minsuk; … - International Monetary Fund (IMF) - 2014
There is much speculation regarding a “race for dominance†among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a predilection that results from a traditional understanding of financial centers as...
Persistent link: https://www.econbiz.de/10011123826
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Determinants of Financial Market Spillovers: The Role of Portfolio Diversification, Trade, Home Bias, and Concentration
Shinagawa, Yoko - International Monetary Fund (IMF) - 2014
This paper defines financial market spillovers as the comovement between two countries’ financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration. The...
Persistent link: https://www.econbiz.de/10011142111
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The Differential Effects of Oil Demand and Supply Shocks on the Global Economy
Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi; Raissi, … - International Monetary Fund (IMF) - 2012
We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic...
Persistent link: https://www.econbiz.de/10011142133
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Real and Financial Vulnerabilities from Crossborder Banking Linkages
Kim, Kyunghun; Mitra, Srobona - International Monetary Fund (IMF) - 2014
This paper looks at the vulnerabilities stemming from banking sector linkages between countries and their macroeconomic effects. It finds that credit risks (from a banking system’s claims on other countries) and funding risks (from a banking system’s liabilities to another) have...
Persistent link: https://www.econbiz.de/10011142144
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Monetary Policy in the New Normal
Bayoumi, Tamim; Dell'Ariccia, Giovanni; Habermeier, … - International Monetary Fund (IMF) - 2014
The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy, the merits of turning unconventional policies into conventional ones, how to make monetary policy...
Persistent link: https://www.econbiz.de/10011142219