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This paper contributes to the literature on systemic risk by examining the network structure of bilateral exposures in the global banking system. The global interbank market constitutes a major part of the global banking system. The market has a hierarchical network structure, composed of the...
Persistent link: https://www.econbiz.de/10013004571
Historically, unusually strong increases in credit and asset prices have tended to precede banking crises. Could the …
Persistent link: https://www.econbiz.de/10013095333
could eventually lead to banking crises. We explore this issue formally by assessing the performance of these debt … categories as early warning indicators (EWIs) for systemic banking crises. We find that they do contain useful information. In …
Persistent link: https://www.econbiz.de/10012925147
This paper examines banking crises in a large sample of countries over a forty-year period. A multinomial modeling … policy makers continue to confront banking crises, leading to high economic and social costs, enhanced multinomial modeling …
Persistent link: https://www.econbiz.de/10013403254
This paper presents a new dataset on the dynamics of non-performing loans (NPLs) during 88 banking crises since 1990 …. The data show similarities across crises during NPL build-ups but less so during NPL resolutions. We find a close … relationship between NPL problems-elevated and unresolved NPLs-and the severity of post-crisis recessions. A machine learning …
Persistent link: https://www.econbiz.de/10012206258
Given the economy's complex behavior and sudden transitions as evidenced in the 2007-08 crisis, agent-based models are widely considered a promising alternative to current macroeconomic practice dominated by DSGE models. Their failure is commonly interpreted as a failure to incorporate...
Persistent link: https://www.econbiz.de/10008933468
interventions since the 1960s, the Fed-induced systemic crises in the new millennium (dollar glut through quantitative easing or …
Persistent link: https://www.econbiz.de/10014358667
This paper examines how monetary and macroprudential policies interact and possibly complement each other in achieving their respective price and financial stability objectives. We first review the Canadian experience of housing market cycles and highlight the need to coordinate the two sets of...
Persistent link: https://www.econbiz.de/10015163673
association with recessions and financial crises. We find that the DSR prior to economic slumps is related to the size of the … subsequent output losses. Moreover, the DSR provides a very accurate early warning signal of impending systemic banking crises at …
Persistent link: https://www.econbiz.de/10013088035
In this paper we propose a novel approach to obtain the predictive density of global GDP growth. It hinges upon a bottom-up probabilistic model that estimates and combines single countries' predictive GDP growth densities, taking into account cross-country interdependencies. Specifically,we...
Persistent link: https://www.econbiz.de/10012829696