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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

Short-Term Wholesale Funding and Systemic Risk; A Global Covar Approach

International Monetary Fund (IMF); International … - 2012

In this paper we identify some of the main factors behind systemic risk in a set of international large-scale complex banks using the novel CoVaR approach. We find that short-term wholesale funding is a key determinant in triggering systemic risk episodes. In contrast, we find no evidence that a...

Persistent link: https://www.econbiz.de/10009654153

Macroprudential Policy; What Instruments and How to Use them? Lessons From Country Experiences

International Monetary Fund (IMF); International … - 2011

This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...

Persistent link: https://www.econbiz.de/10009369434

Risk Sharing and Financial Contagion in Asia; An Asset Price Perspective

Rungcharoenkitkul, Phurichai - International Monetary Fund (IMF) - 2011

This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We … discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more … contagion, but the terms of tradeoffs vary across countries, depending on relative economic fluctuations and inflation …

Persistent link: https://www.econbiz.de/10009369441

Financial Spillovers to Emerging Markets During the Global Financial Crisis

Frank, Nathaniel; Hesse, Heiko - International Monetary Fund (IMF) - 2009

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GARCH model is estimated in order to gauge the extent of co-movements of these...

Persistent link: https://www.econbiz.de/10008528671

Financial Cycles; What? How? When?

Terrones, Marco; Kose, M. Ayhan; Claessens, Stijn - International Monetary Fund (IMF) - 2011

This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long...

Persistent link: https://www.econbiz.de/10009019580

Global Market Conditions and Systemic Risk

González-Hermosillo, Brenda; Hesse, Heiko - International Monetary Fund (IMF) - 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/10008460596

The End of the Wheeling and Dealing

Sinn, Hans-Werner - In: CESifo Forum 9 (2008) 4, pp. 3-5

Persistent link: https://www.econbiz.de/10005013124

The Global Financial Crisis: Causes, Anti-Crisis Policies and First Lessons

Dabrowski, Marek - In: CESifo Forum 9 (2008) 4, pp. 28-32

Persistent link: https://www.econbiz.de/10005013128

The Causes of the Financial Crisis

Hellwig, Martin - In: CESifo Forum 9 (2008) 4, pp. 12-21

Persistent link: https://www.econbiz.de/10005013148

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