A New Form Of Financial Contagion PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download A New Form Of Financial Contagion PDF full book. Access full book title A New Form Of Financial Contagion.

A New Form of Financial Contagion

A New Form of Financial Contagion
Author: Samet Gunay
Publisher:
Total Pages: 16
Release: 2020
Genre:
ISBN:
GET BOOK

Download A New Form of Financial Contagion Book in PDF, ePub and Kindle

The COVID-19 pandemic has induced a different and more severe version of the contagion phenomenon. In this study, we examine the influence of the COVID-19 pandemic on six different stock markets. Empirical analyses are conducted for four different time intervals to reveal the effect of the COVID-19 pandemic. The modified ICSS test shows that the pandemic has led to structural breaks in the volatility of stock indexes. While break dates intensify around February 19-21, 2020 in most of the markets, for the Chinese stock market, the break appears approximately three weeks earlier, on January 30, 2020. The DCC-MVGARCH and DCC-MVFIGARCH models illustrate the effect of the COVID-19 pandemic on dynamic conditional correlations. According to the changes in unconditional correlation coefficients, although the relationship of the Chinese and Turkish stock markets weakens across 2005 to 2019, it displays a 20% rise following the pandemic. Some other market pairs also show soaring correlation coefficients, although these increases are lower, at approximately 10%.

International Financial Contagion

International Financial Contagion
Author: Stijn Claessens
Publisher: Springer Science & Business Media
Total Pages: 461
Release: 2013-04-17
Genre: Business & Economics
ISBN: 1475733143
GET BOOK

Download International Financial Contagion Book in PDF, ePub and Kindle

No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.

Financial Contagion

Financial Contagion
Author: Matteo Cominetta
Publisher:
Total Pages: 32
Release: 2018
Genre:
ISBN:
GET BOOK

Download Financial Contagion Book in PDF, ePub and Kindle

Contagion has mostly been interpreted and tested as a break from a stable linear correlation of financial markets caused by an extraordinary shock. This paper argues that quantile regression can provide a tool to investigate alterations in other features of financial returns' distribution caused by extraordinary shocks, thus providing additional understanding of the mechanism of financial shock propagation and its instability. Applying the technique to stock market returns, we find evidence that jumps in uncertainty have powerful contagious effects of a form different from an increase in markets' correlation. These effects would not be detectable in standard contagion tests that search for increases in market correlation.

Financial Contagion: a Meta-analysis Based Approach

Financial Contagion: a Meta-analysis Based Approach
Author: Andres Kuusk
Publisher: LAP Lambert Academic Publishing
Total Pages: 236
Release: 2014-08-12
Genre:
ISBN: 9783659557194
GET BOOK

Download Financial Contagion: a Meta-analysis Based Approach Book in PDF, ePub and Kindle

The financial crisis of 2007-2008 was local initially, but rapidly spread all over the world and affected severly even countries with strong fundamentals and far away from the country of origin (the US). These events have left financial agents and economists wonder, what could be done to avoid this kind of financial contagion repeating itself in the future. The study takes a deep look into the subject and argues that herding behaviour or some other form of collectively irrational behaviour among financial agents is the root of financial contagions and therefore propagations of crises are close to inevitable. Two important policy implications are drawn from this finding, regarding to international portfolio diversification and appropriate financial architecture at the government level.

Contagion Phenomena with Applications in Finance

Contagion Phenomena with Applications in Finance
Author: Serge Darolles
Publisher: Elsevier
Total Pages: 168
Release: 2015-08-26
Genre: Mathematics
ISBN: 0081004788
GET BOOK

Download Contagion Phenomena with Applications in Finance Book in PDF, ePub and Kindle

Much research into financial contagion and systematic risks has been motivated by the finding that cross-market correlations (resp. coexceedances) between asset returns increase significantly during crisis periods. Is this increase due to an exogenous shock common to all markets (interdependence) or due to certain types of transmission of shocks between markets (contagion)? Darolles and Gourieroux explain that an attempt to convey contagion and causality in a static framework can be flawed due to identification problems; they provide a more precise definition of the notion of shock to strengthen the solution within a dynamic framework. This book covers the standard practice for defining shocks in SVAR models, impulse response functions, identitification issues, static and dynamic models, leading to the challenges of measurement of systematic risk and contagion, with interpretations of hedge fund survival and market liquidity risks Features the standard practice of defining shocks to models to help you to define impulse response and dynamic consequences Shows that identification of shocks can be solved in a dynamic framework, even within a linear perspective Helps you to apply the models to portfolio management, risk monitoring, and the analysis of financial stability

Interconnectedness and Contagion Analysis: A Practical Framework

Interconnectedness and Contagion Analysis: A Practical Framework
Author: Mrs.Jana Bricco
Publisher: International Monetary Fund
Total Pages: 49
Release: 2019-10-11
Genre: Business & Economics
ISBN: 1513517856
GET BOOK

Download Interconnectedness and Contagion Analysis: A Practical Framework Book in PDF, ePub and Kindle

The analysis of interconnectedness and contagion is an important part of the financial stability and risk assessment of a country’s financial system. This paper offers detailed and practical guidance on how to conduct a comprehensive analysis of interconnectedness and contagion for a country’s financial system under various circumstances. We survey current approaches at the IMF for analyzing interconnectedness within the interbank, cross-sector and cross-border dimensions through an overview and examples of the data and methodologies used in the Financial Sector Assessment Program. Finally, this paper offers practical advice on how to interpret results and discusses potential financial stability policy recommendations that can be drawn from this type of in-depth analysis.

Financial Crisis, Contagion, and Containment

Financial Crisis, Contagion, and Containment
Author: Padma Desai
Publisher: Princeton University Press
Total Pages: 326
Release: 2003
Genre: Business & Economics
ISBN: 9780691113920
GET BOOK

Download Financial Crisis, Contagion, and Containment Book in PDF, ePub and Kindle

A sweeping critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Padma Desai retraces the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines and Thailand.

The Financial Crisis Inquiry Report

The Financial Crisis Inquiry Report
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
Total Pages: 692
Release: 2011-05-01
Genre: Political Science
ISBN: 1616405414
GET BOOK

Download The Financial Crisis Inquiry Report Book in PDF, ePub and Kindle

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

International Financial Architecture

International Financial Architecture
Author: Stijn Claessens
Publisher:
Total Pages: 28
Release: 2003
Genre: International finance
ISBN:
GET BOOK

Download International Financial Architecture Book in PDF, ePub and Kindle

Annotation This title can be previewed in Google Books - http://books.google.com/books?vid=ISBN9789056292669.

The Oxford Handbook of the Economics of Networks

The Oxford Handbook of the Economics of Networks
Author: Yann Bramoullé
Publisher: Oxford University Press
Total Pages: 857
Release: 2016-03-01
Genre: Business & Economics
ISBN: 0190216832
GET BOOK

Download The Oxford Handbook of the Economics of Networks Book in PDF, ePub and Kindle

The Oxford Handbook of the Economics of Networks represents the frontier of research into how and why networks they form, how they influence behavior, how they help govern outcomes in an interactive world, and how they shape collective decision making, opinion formation, and diffusion dynamics. From a methodological perspective, the contributors to this volume devote attention to theory, field experiments, laboratory experiments, and econometrics. Theoretical work in network formation, games played on networks, repeated games, and the interaction between linking and behavior is synthesized. A number of chapters are devoted to studying social process mediated by networks. Topics here include opinion formation, diffusion of information and disease, and learning. There are also chapters devoted to financial contagion and systemic risk, motivated in part by the recent financial crises. Another section discusses communities, with applications including social trust, favor exchange, and social collateral; the importance of communities for migration patterns; and the role that networks and communities play in the labor market. A prominent role of networks, from an economic perspective, is that they mediate trade. Several chapters cover bilateral trade in networks, strategic intermediation, and the role of networks in international trade. Contributions discuss as well the role of networks for organizations. On the one hand, one chapter discusses the role of networks for the performance of organizations, while two other chapters discuss managing networks of consumers and pricing in the presence of network-based spillovers. Finally, the authors discuss the internet as a network with attention to the issue of net neutrality.