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particular attention to modelling the exchange rate and monetary policy in China. Their findings suggest that the Chinese economy … adjusts more slowly to shocks, compared to the large advanced economies, because monetary policy is less effective and the …
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(VIX) shocks and U.S. monetary policy shocks on aggregated measures of equity outflow and equity inflow episodes. Our … results indicate that both VIX and U.S. monetary policy shocks had substantially time-varying effects on episodes of strong …
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We measure systemic risk in the network of financial market infrastructures (FMIs) as the probability that two or more FMIs have a large credit risk exposure to the same FMI participant. We construct indicators of credit risk exposures in three main Canadian FMIs during the period 2007-11 and...
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policies and macroprudential policy in small, open economies such as Canada. The paper starts by summarizing recent work on …
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