Indirect contagion The policy problem. No 9 / January 2016
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Otros documentos de la autoría: European Systemic Risk Board; Clerc, Laurent; Langfield, Sam; Giovannini, Alberto; Portes, Richard; Scheicher, Martin; Peltonen, Tuomas
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Mostrar el registro completo del ítemcomunitat-uji-handle:10234/25884
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Título
Indirect contagion The policy problem. No 9 / January 2016Autoría
DOI
10.2849/270774Fecha de Publicación
2016-12-15Resumen
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. [-]
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978-92-95081-25-3Tipo de documento
info:eu-repo/semantics/workingPaperEditor
European Systemic Risk BoardDerechos de acceso
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess