useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators … is crucial in the current monetary policy framework because significant imbalances could build up without any sign of … flows and credit is a plausible signal macroeconomic imbalances. The results suggest that although the above indicators …

. It focuses on the implications of uncertainty shocks on indicators that tend to precede financial crises. In an empirical … indicators contain some useful information on the potential buildup of vulnerabilities in the financial system. …