haku: @freeterm financial system / yhteensä: 3
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| Tekijä: | Bartram, S.M. Brown, G.W. Hund, J.E. |
| Otsikko: | Estimating systemic risk in the international financial system |
| Lehti: | Journal of Financial Economics
2007 : DEC, VOL. 86:3, p. 835-869 |
| Asiasana: | financial markets emerging markets banking crises risk estimation international |
| Vapaa asiasana: | financial system |
| Kieli: | eng |
| Tiivistelmä: | In this paper, three distinct methods are developed to quantify the risk of a systemic failure in the global banking system. Based on a sample of 334 banks representing 80 percent of global bank equity in 28 countries around five global financial crises, the results suggest statistically significant, but economically small, increases in systemic risk. Although policy responses are endogenous, the low estimated probabilities suggest that the distress of central bankers, regulators and politicians about the studied events could be overstated and that current policy responses to financial crises could be adequate to handle major macroeconomic events. |
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