Indirect contagion The policy problem. No 9 / January 2016
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Títol
Indirect contagion The policy problem. No 9 / January 2016Autoria
DOI
10.2849/270774Data de publicació
2016-12-15Resum
This paper represents an attempt to move systemic risk analysis closer to the holism of epidemiology. In doing so, we begin by identifying the fundamental channels of indirect contagion, which manifest even in the ... [+]
This paper represents an attempt to move systemic risk analysis closer to the holism of epidemiology. In doing so, we begin by identifying the fundamental channels of indirect contagion, which manifest even in the absence of direct contractual links. The first is the market price channel, in which scarce funding liquidity and low market liquidity reinforce each other, generating a vicious spiral.
The second is information spillovers, in which bad news can adversely affect a broad range of financial firms and markets. [-]
Descriptors
ISBN
978-92-95081-25-3Tipus de document
info:eu-repo/semantics/workingPaperEditor
European Systemic Risk BoardDrets d'accés
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess