system to interbank contagion. Third, the more concentrated assets are within a money center model, the less stable it is …

In this paper we investigate the contagion effect between stock markets of U.S and sixteen OECD countries due to Global …-2009). In order to recognize the contagion effect, we test whether the mean of the DCC coefficients in crisis period differs … OECD stock markets under study during the crisis period for most of the countries. This proves the existence of contagion …

this mechanism, fire sales can lead to contagion, and one failing bank can cause several more to follow suit. …

externalities. The character and timing of future shocks are unpredictable, but contagion in the propagation mechanisms should be …