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Modeling contagion in the Eurozone crisis via dynamical systems
Castellacci, Giuseppe; Choi, Youngna - In: Journal of Banking & Finance 50 (2015) C, pp. 400-410
contagion using the theories of dynamical systems. Here, our main goal is to model the Eurozone financial crisis within that … detail how a suitable model can be set up for the Eurozone crisis. The dynamical system is defined by the evolution of the … prospect theory. Contagion is formulated in terms of how the market instability indicators for the different subsystems and the …
Persistent link: https://www.econbiz.de/10011118115
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Crisis Management and Resolution; Early Lessons from the Financial Crisis
Pazarbasioglu, Ceyla; Laeven, Luc; Nedelescu, Oana M.; … - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245897
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Financial Crises Explanations, Types, and Implications
Claessens, Stijn; Kose, M. Ayhan - International Monetary Fund (IMF) - 2013
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
Persistent link: https://www.econbiz.de/10011123845
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Monitoring Systemic Risk Based on Dynamic Thresholds
Lund-Jensen, Kasper - International Monetary Fund (IMF) - 2012
Successful implementation of macroprudential policy is contingent on the ability to identify and estimate systemic risk in real time. In this paper, systemic risk is defined as the conditional probability of a systemic banking crisis and this conditional probability is modeled in a fixed effect...
Persistent link: https://www.econbiz.de/10011242269
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Czech Republic; Technical Note on Crisis Management and Bank Resolution Framework
International Monetary Fund (IMF); International … - 2012
The Czech financial system is confronted with mounting risks that stem mainly from negative developments in the European Union (EU). This technical note focuses on crisis management and bank resolution framework for the Czech Republic. It summarizes the high-level observations of the mission...
Persistent link: https://www.econbiz.de/10011242563
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Trade and Financial Contagion in Currency Crises
Salgado, Ranil; Ricci, Luca Antonio; Caramazza, Francesco - International Monetary Fund (IMF) - 2000
This paper investigates empirically the relevance of external, domestic, and financial weaknesses as well as trade and financial linkages in inducing financial crises for a sample of 61 emerging market and industrial countries. A panel probit estimation finds these economic indicators to be...
Persistent link: https://www.econbiz.de/10005769104
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Spillovers Through Banking Centers; A Panel Data Analysis
International Monetary Fund (IMF); International … - 2000
To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 emerging markets disaggregated by 11 banking centers. We find that bank exposures to a crisis country help predict bank flows in third countries after the Mexican and Asian crisis,...
Persistent link: https://www.econbiz.de/10005599548
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Did Output Recover From the Asian Crisis?
Cerra, Valerie; Saxena, Sweta Chaman - International Monetary Fund (IMF) - 2003
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10005604941
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Post-Resolution Treatment of Depositors At Failed Banks; Implications for the Severity of Banking Crises, Systemic Risk, and too-Big-To-Fail
Kaufman, George G.; Seelig, Steven A. - International Monetary Fund (IMF) - 2001
Losses may accrue to depositors at insolvent banks both at and after the time of official resolution. Losses at resolution occur because of poor closure rules and regulatory forbearance. Losses after resolution occur if depositors' access to their claims is delayed or "frozen." While the sources...
Persistent link: https://www.econbiz.de/10005825969