Results 11 to 20 of about 7,901,979 (308)
Systemic risk and the European Systemic Risk Board [PDF]
, 2009 Financial crises are often characterised by a few financial institutions \ud failing, followed by a cascade of collapses. Economists are not good at \ud predicting which shocks will trigger an initial collapse. Thus, an early \ud warning system might be better focused on measuring systemic risk, or \ud the vulnerability of the financial system to the ...
Sibert, Anne
core +5 more sources
Risk-Sharing and the Creation of Systemic Risk [PDF]
SSRN Electronic Journal, 2020 We address the paradox that financial innovations aimed at risk-sharing appear to have made the world riskier. Financial innovations facilitate hedging idiosyncratic risks among agents; however, aggregate risks can be hedged only with liquid assets. When risk-sharing is primitive, agents self-hedge and hold more liquid assets; this buffers aggregate ...
Acharya, Viral V. +2 more
openaire +3 more sources
Systemic Risks and the Macroeconomy [PDF]
IMF Working Papers, 2010 This paper presents a modeling framework that delivers joint forecasts of indicators of systemic real risk and systemic financial risk, as well as stress-tests of these indicators as impulse responses to structural shocks identified by standard macroeconomic and banking theory.
LUCCHETTA, Marcella, G. De Nicolo'
openaire +9 more sources
A systemic risk warning system [PDF]
, 2010 Economists largely neglected systemic risk in the financial sector. This column discusses how governments should gather data about systemic risk and assess its implications.
Sibert, Anne
core +3 more sources
Applied Economics, 2022 How do changes in Environmental, Social and Governance (ESG) scores influence banks’ systemic risk contribution? Using a dynamic panel model, we document a beneficial impact of the ESG Combined Score and Governance pillar on banks’ contribution to system-wide distress analysing a panel of 367 publicly listed banks from 47 countries over the period 2007-
George Marian Aevoae +3 more
openaire +3 more sources
Systemic risk: Conditional distortion risk measures [PDF]
Insurance: Mathematics and Economics, 2022 In this paper, we introduce the rich classes of conditional distortion (CoD) risk measures and distortion risk contribution ($Δ$CoD) measures as measures of systemic risk and analyze their properties and representations. The classes include the well-known conditional Value-at-Risk, conditional Expected Shortfall, and risk contribution measures in terms
Jan Dhaene +2 more
openaire +4 more sources
Systemic Risk Contributions [PDF]
Finance and Economics Discussion Series, 2010 We adopt a systemic risk indicator measured by the price of insurance against systemic financial distress and assess individual banks' marginal contributions to the systemic risk. The methodology is applied using publicly available data to the 19 bank holding companies covered by the U.S. Supervisory Capital Assessment Program (
Xin Huang, Hao Zhou, Haibin Zhu
openaire +2 more sources
On the Origin of Systemic Risk
SSRN Electronic Journal, 2020 Systemic risk in the banking sector is usually associated with long periods of economic downturns and very large social costs. On one hand, shocks coming from correlated exposures towards the real economy may induce correlation in banks’ default probabilities thereby increasing the likelihood for systemic-tail events like the 2008 Great Financial ...
Montagna, Mattia +2 more
openaire +3 more sources
Navigating systemic risks: governance of and for systemic risks [PDF]
Global SustainabilityAbstract Non-technical summary Systemic risks such as climate change and pandemics are complex and interconnected. Managing such risks requires effective organisational structures and processes. This publication presents conceptually robust, evidence-based approaches for assessing and managing systemic risks.
Pia-Johanna Schweizer, Sirkku Juhola
openaire +4 more sources
Economic Modelling, 2023 Political risk impacts firm-level risk, influencing funding costs, cash holdings, and capital structure choices. Traditional approaches to political risk rely on aggregate indicators, like economic policy uncertainty proxies. In contrast, our study examines how political risk spreads among individual US firms and sectors using network analysis and ...
Chuliá, Helena +2 more
openaire +5 more sources