Mitra, Srobona; Duggar, Elena - International Monetary Fund (IMF) - 2007
The large and growing international linkages of big Irish banks expose them to idiosyncratic shocks arising in other … countries. We analyze international interdependencies of Irish banks-during both normal times and in periods of large shocks or … extreme events-using an existing methodology with distance to default (DD) data constructed from the banks' equity prices. The …