Similar Search Results

Systemic Risk and Financial Consolidation : Are they Related?

De Nicoló, Gianni - 2002

We argue that firm interdependencies, as measured by correlations of stock returns, provide an indicator of systemic risk potential. We find a positive trend in stock return correlations net of diversification effects for a sample of U.S. Large and Complex Banking Organizations over 1988-99....

Persistent link: https://www.econbiz.de/10014399710

Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR : Evidence from Stock Markets

Zhang, Xiaojing - 2009

This paper focuses on evidence from stock markets as it investigates the spillovers from the United States to mainland China and Hong Kong SAR during the subprime crisis. Using both univariate and multivariate GARCH models, this paper finds that China''s stock market is not immune to the...

Persistent link: https://www.econbiz.de/10014402277

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

Hesse, Heiko - 2009

This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in … indicates that credit premia increased in importance as the crisis deepened. Second, using Markov switching models, central bank …

Persistent link: https://www.econbiz.de/10014402375

Lessons and Policy Implications From the Global Financial Crisis

Claessens, Stijn - 2010

The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial...

Persistent link: https://www.econbiz.de/10014402685

Global Market Conditions and Systemic Risk

González-Hermosillo, Brenda - 2009

This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a...

Persistent link: https://www.econbiz.de/10014402268

The Crisis : Basic Mechanisms and Appropriate Policies

Blanchard, Olivier J. - 2009

The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in...

Persistent link: https://www.econbiz.de/10014403169

From Subprime Loans to Subprime Growth? : Evidence for the Euro Area

Cihák, Martin - 2009

activity. We examine the linkages between the financial and real sectors in the euro area, finding that (i) bank loan supply … responds negatively to declines in bank soundness; (ii) a cutback in bank loan supply has a negative impact on economic …. These estimates imply that the currently estimated bank losses would subtract some 2 percentage points from the euro area …