We propose the CoJPoD, a novel framework explicitly linking the cross-sectional and cyclical dimensions of systemic risk. In this framework, banking sector distress in the form of the joint probability of default of financial intermediaries (reflecting contagion from both direct and indirect...

Crises cause attentiveness in our society and awaken, depending on the degree of consternation, our ongoing interest. These events include financial crises, phenomenal incidents that shock the economic world and pose significant challenges for the governments. Two crises which stand out in this...

The article deals with the main tendencies of companies’ development in 2011 and in early 2012. The main factors that influence the activity of trading networks are investigated. The priority directions of formation of an enterprise competitive advantage under new economic conditions are...