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20.1 Introduction. The aim of this chapter is to provide an introduction to the literature on financial contagion in networks. We aim to do this by focusing on a limited number of papers in some formal detail, trying to illustrate their analogies and differences as much as possible within a common framework. We divide the discussion in two parts.
1 de feb. de 2000 · Financial contagion is modeled as an equilibrium phenomenon. Because liquidity preference shocks are imperfectly correlated across regions, banks hold interregional claims on other banks to provide insurance against liquidity preference shocks. When there is no aggregate uncertainty, the first‐best allocation of risk sharing can be achieved. However, this arrangement is financially fragile ...
1 de jul. de 2022 · Section snippets Defining contagion. The use of the term “contagion” in analysis of spillovers of the crisis shocks across borders has never been as appropriate as in the case of the COVID-19 pandemic, because it captures the spread of the infectious disease itself, as well as the transmission of social, financial and economic impacts across borders.
17 de dic. de 2008 · The longer we wait, the more we allow the financial contagion to spread. The writer is president, Kiel Institute for the World Economy, and professor of economics, Christian-Albrechts University, Kiel
6 de may. de 2017 · Financial contagion is the most typical manifestation and characteristic of financial systemic risk, which always exhibits as the spread of financial distress from one market, asset class, or geographical region to others continued unabatedly (see, e.g., Kolb 2011).For instance, the financial crisis of 2007–2009 initially originated in the USA in the subprime mortgage market, then it rapidly ...
11 de jun. de 2021 · We empirically investigate why financial crises spread from one country to another. For our analysis, we develop a new multiple-channel test of financial market contagion and construct indices of crisis severity in equity markets in order to examine how the transmission of shocks across countries can be related to direct linkages between countries or to common characteristics. Based on network ...
1 de ago. de 2000 · Abstract. Much of the current debate on reforming the international financial architecture is aimed at reducing the risks of contagion—best defined as a significant increase in cross-market linkages after a shock to an individual country (or group of countries). This definition highlights the importance of other links through which shocks are ...
