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A Flow-of-Funds Perspective on the Financial CrisisTowards a Systemic Risk Indicator Based on Contingent Claim Analysis

A Flow-of-Funds Perspective on the Financial Crisis: Towards a Systemic Risk Indicator Based on... [Traditionally, the literature in systemic risk focuses on financial institutions and on their relations. The financial crisis that began in the United States in 2007 and, particularly, the subsequent European sovereign debt crisis have shown that there are many more channels of contagion apart from the ones that link risks within the banking system. As these channels propagate shocks, understanding them better can help to defect the mechanics behind systemic risk. This type of analysis is, nevertheless, confronted with several data gaps and limitations, which flow-of-funds statistics tries to overcome.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Flow-of-Funds Perspective on the Financial CrisisTowards a Systemic Risk Indicator Based on Contingent Claim Analysis

Part of the Palgrave Studies in Economics and Banking Book Series
Editors: Winkler, Bernhard; van Riet, Ad; Bull, Peter
Silva, Nuno; Ribeiro, Nuno; Antunes, António
A Flow-of-Funds Perspective on the Financial Crisis — Nov 24, 2015
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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
ISBN
978-1-349-46946-8
Pages
263 –285
DOI
10.1057/9781137353016_9
Publisher site
See Chapter on Publisher Site

Abstract

[Traditionally, the literature in systemic risk focuses on financial institutions and on their relations. The financial crisis that began in the United States in 2007 and, particularly, the subsequent European sovereign debt crisis have shown that there are many more channels of contagion apart from the ones that link risks within the banking system. As these channels propagate shocks, understanding them better can help to defect the mechanics behind systemic risk. This type of analysis is, nevertheless, confronted with several data gaps and limitations, which flow-of-funds statistics tries to overcome.]

Published: Nov 24, 2015

Keywords: Central Bank; Euro Area; Credit Risk; Systemic Risk; Equity Return

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