Vermeulen, Robert; Hoeberichts, Marco; Vašícek, Borek; … - de Nederlandsche Bank - 2015
This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest...