Mapping Financial Stability by Peter Sarlin

By Peter Sarlin

This ebook techniques macroprudential oversight from the perspective of 3 projects. the focal point matters a good integration of potential for possibility verbal exchange into analytical instruments for possibility identity and hazard evaluation. often, this ebook explores techniques for representing advanced info touching on monetary entities on low-dimensional monitors. info and size relief equipment, and their mixtures, carry promise for representing multivariate information constructions in simply comprehensible codecs. as a result, this publication creates a Self-Organizing monetary balance Map (SOFSM), and lays out a basic framework for mapping the kingdom of monetary balance. past exterior threat communique, the purpose of the visible skill is to aid disciplined and based judgmental research established upon policymakers' adventure and area intelligence.

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Aharony and Swary (1983) and Peavy and Hempel (1988) focused on (US) banks, and their resilience to a number of failures. , Slovin et al. (1993) and Dockinga et al. (1997)] found mixed results on contagion effects depending on the considered banks. , Smirlock and Kaufold (1987) and Wall and Peterson (1990)]. One explanation to the mixed results might be typically observed differences in patterns during tranquil and crisis periods, where crises include non-linear and extreme stock-price movements.

Notes The figure shows interrelations of the three components of the financial system: financial markets, intermediaries and market infrastructures. The figure is an adapted version of that in ECB (2012a) and follows the description in Fell and Schinasi (2005) Broadly speaking, financial markets may be thought of as a mechanism for people to trade various financial securities, commodities and other fungible items at prices that reflect the markets. In a larger context, Schinasi (2004) summarizes the key functions of a financial system in fostering and supporting the real economy by matching investors with savers, allocating and pricing financial risks and resources and supporting various intertemporal economic processes like wealth accumulation, economic growth, and social prosperity.

This chapter draws upon literature reviews in Bandt and Hartmann (2002), Bandt et al. (2009) and ECB (2009), in addition to a wide range of other sources to which in-text references are provided. 1 Theoretical Models This subsection discusses the theoretical literature related to the three forms of systemic risk. While the literature is currently developing at a tremendous pace, many important older works continue to be relevant. We start by discussing the literature on lending booms and build-ups of imbalances that goes half a century back in time, then we focus on theoretical works on macroeconomic aggregate shocks to the economy, and finally on the literature on interbank contagion.

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