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The Cleveland Financial Stress Index
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Book Synopsis The Cleveland Financial Stress Index by : Timothy Bianco
Download or read book The Cleveland Financial Stress Index written by Timothy Bianco and published by . This book was released on 2013 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: To promote stability in a dynamic financial system, supervisors must monitor the system for risks at all times. The Cleveland Fed has developed an index of financial stress, the CFSI, which is designed to track distress in the financial system as it is building. The CFSI will help financial system supervisors monitor and understand the state of financial markets on a real-time basis, and take appropriate regulatory or supervisory action as necessary.
Book Synopsis Financial Stress Index by : Mikhail V. Oet
Download or read book Financial Stress Index written by Mikhail V. Oet and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Stress Indices by : Manfred Kremer
Download or read book Financial Stress Indices written by Manfred Kremer and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial stress indices quantify the current stress level in the financial system as a whole or major parts of it by compressing a number of indicators measuring stress in individual market segments into a composite indicator. Despite the fact that composite indicators have been used for other purposes for a long time (e.g., monetary and financial conditions indices), financial stress indices have become a popular tool only in recent years, spurred by the financial crisis. The present paper is a slightly revised version of what has been published as the editorial of a special issue of The Spanish Review of Financial Economics. The special issue is dedicated to three new variants of a financial stress index for the Spanish and the Italian markets, respectively. Before briefly summarizing the three papers introducing these new indicators, I first present and discuss the ECB's financial stress index which I developed together with two colleagues (D. Holló, M. Kremer and M. Lo Duca (2012), CISS - A Composite Indicator of Systemic Stress in the Financial System, ECB Working Paper No. 1426, March). This may help better understand some features of the three indices since all of them build, at least to some extent, on our indicator concept. I also show for the first time a time series of a CISS for the US financial system that starts in January 1973.
Book Synopsis Financial Stress and Economic Activity: Evidence from a New Worldwide Index by : Hites Ahir
Download or read book Financial Stress and Economic Activity: Evidence from a New Worldwide Index written by Hites Ahir and published by International Monetary Fund. This book was released on 2023-10-20 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses text analysis to construct a continuous financial stress index (FSI) for 110 countries over each quarter during the period 1967-2018. It relies on a computer algorithm along with human expert oversight and is thus easy to update. The new indicator has a larger country and time coverage and higher frequency than similar measures focusing on advanced economies. And it complements existing binary chronologies in that it can assess the severity of financial crises. We use the indicator to assess the impact of financial stress on the economy using both country- and firm-level data. Our main findings are fivefold: i) consistent with existing literature, we show an economically significant and persistent relationship between financial stress and output; ii) the effect is larger in emerging markets and developing economies and (iii) for higher levels of financial stress; iv) we deal with simultaneous causality by constructing a novel instrument—financial stress originating from other countries—using information from the text analysis, and show that, while there is clear evidence that financial stress harms economic activities, OLS estimates tend to overestimate the magnitude of this effect; (iv) we confirm the presence of an exogenous effect of financial stress through a difference-in-differences exercise and show that effects are larger for firms that are more financially constrained and less profitable.
Book Synopsis A Financial Stress Index for the United Kingdom by : Somnath Chatterjee
Download or read book A Financial Stress Index for the United Kingdom written by Somnath Chatterjee and published by . This book was released on 2017 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop an index to monitor the intensity of financial stress in the UK over a period of 45 years. By aggregating various market-based indicators of financial stress from six major markets, we allow each indicator to be assessed in terms of its systemic importance. This enables the index to capture the interconnectedness of financial markets. The index successfully captures three episodes of heightened stress in UK financial history. We also attempt to determine how much a financial shock to the UK economy is amplified in a period of stress vis-à-vis a tranquil period. It involves exploring the dynamic relationship of the index with the UK real economy by two specifications of threshold vector auto-regression models. We find empirical evidence for the existence of feedback loops in the shock propagation between the real and the financial sector in the United Kingdom.
Book Synopsis Financial Stress Indices and Financial Crises by :
Download or read book Financial Stress Indices and Financial Crises written by and published by . This book was released on 2015 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stability of the Financial System by : Andreas R. Dombret
Download or read book Stability of the Financial System written by Andreas R. Dombret and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔFinancial stability is necessary. To achieve this common target an on-going dialogue is required between industry, policymakers, academia and other relevant stakeholders. This book provides a welcome and refreshing perspective from different standpoints on the issues at stake, and reminds us of the remaining work ahead.Õ Ð Axel Weber, Chair of Supervisory Board, UBS ÔSince 2008, financial stability has moved to the center of the policy stage. This volume, combining contributions from leading policy makers and academics, is the essential introduction to the issues. Must reading.Õ Ð Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley, US ÔThere was a world BC (Before Crisis) and there will be a world AD (After Deleveraging) Ð the challenge is to create an effective, efficient yet stable and sustainable financial system for this Ònew worldÓ. This book provides the most comprehensive and thought-provoking basis for action I have seen so far.Õ Ð Paul Achleitner, Chair of Supervisory Board Deutsche Bank AG ÔFinancial stability is an overarching goal. In open and democratic societies, ensuring financial stability is a matter of interest not only to central bankers, academics and financial market players, but also to all well-informed citizens. This book provides an excellent basis for a wide-ranging and rewarding debate.Õ Ð Thomas J. Jordan, Chairman of the Governing Board of the Swiss National Bank ÔThe financial crisis demonstrated conclusively that for central bankers and other policymakers financial stability must always be of paramount concern, for without it the macroeconomy will perform badly and monetary policy will lose its effectiveness. This book underscores the importance of financial stability, laying out the key issues and what must be done to avoid such disasters in the future.Õ Ð William C. Dudley, President of the Federal Reserve Bank of New York, US In the aftermath of the financial crisis, new financial market regulation is being implemented, and increasing numbers of countries are establishing new legislation for macroprudential oversight. Against this backdrop, this thought provoking book provides a platform for the leading international experts to discuss and encourage future debate on financial stability. The breadth and scope of the issues addressed reflect the challenge of developing and consistently implementing a coherent set of financial reforms to promote financial stability. The book advocates the development of financial reforms that are effective in striking the optimal balance between realizing the enormous benefits of efficient financial intermediation, capital allocation and risk management on the one hand, and controlling systemic risks and maintaining financial stability on the other. Making an important contribution to deepening our understanding of the many facets of financial stability, this book will prove a challenging read for policy makers, regulators and central bankers as well as for researchers and scholars in the fields of economics, money, finance and banking.
Book Synopsis Staff Guidance Note on Macroprudential Policy by : International Monetary Fund
Download or read book Staff Guidance Note on Macroprudential Policy written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-06-11 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Book Synopsis The Foreign Exchange Matrix by : Barbara Rockefeller
Download or read book The Foreign Exchange Matrix written by Barbara Rockefeller and published by Harriman House Limited. This book was released on 2013-02-11 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Foreign Exchange Matrix" is the go-to book for sophisticated financial market professionals seeking a deeper understanding of the world of foreign exchange--written by experienced insiders. The book aims to cut through the clutter and present a concise and definitive picture of the market that is not only true, but also useful.
Book Synopsis Evaluating the Information Value for Measures of Systemic Conditions by : Mikhail V. Oet
Download or read book Evaluating the Information Value for Measures of Systemic Conditions written by Mikhail V. Oet and published by . This book was released on 2015 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timely identification of coincident systemic conditions and forward-looking capacity to anticipate adverse developments are critical for macroprudential policy. Despite clear recognition of these factors in literature, an evaluation methodology and empirical tests for the information value of coincident measures are lacking. This paper provides a twofold contribution to the literature: (i) a general-purpose evaluation framework for assessing information value for measures of systemic conditions, and (ii) an empirical assessment of the information value for several alternative measures of US systemic conditions. We find substantial differences among the measures, of which the Cleveland Financial Stress Index shows best-in-class identification performance. In terms of forecasting performance, Kamakura's Troubled Company Index, Cleveland Financial Stress Index, and Goldman Sachs Financial Conditions Index show moderately stable usefulness metrics over time.
Book Synopsis Financial Stress and Economic Dynamics by :
Download or read book Financial Stress and Economic Dynamics written by and published by . This book was released on 2014 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: A financial stress index for the United States is introduced -an index that was used in real time by the staff of the Federal Reserve Board to monitor the financial crisis of 2008-9 and the interaction with real activity, inflation and monetary policy is demonstrated using a richly parameterized Markov-switching VAR model, estimated using Bayesian methods. A "stress event" is defined as a period where the latent Markov states for both shock variances and model coefficients are adverse. Results show that allowing for time variation is economically and statistically important, with solid (quasi) real-time properties. Stress events line up well with financial events in history. A shift to a stress event is highly detrimental to the outlook for the real economy, and conventional monetary policy is relatively weak during such periods.
Book Synopsis Handbook of Environmental and Sustainable Finance by : Vikash Ramiah
Download or read book Handbook of Environmental and Sustainable Finance written by Vikash Ramiah and published by Academic Press. This book was released on 2015-10-28 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of financial concepts and tools to shape development is hardly new, but their recent adoption by advocates of sustainable environmental management has created opportunities for innovation in business and regulatory groups. The Handbook of Environmental and Sustainable Finance summarizes the latest trends and attitudes in environmental finance, balancing empirical research with theory and applications. It captures the evolution of environmental finance from a niche scholarly field to a mainstream subdiscipline, and it provides glimpses of future directions for research. Covering implications from the Kyoto and Paris Protocols, it presents an intellectually cohesive examination of problems, opportunities, and metrics worldwide. Introduces the latest developments in environmental economics, sustainable accounting work, and environmental/sustainable finance Explores the effects of environmental regulation on the economy and businesses Emphasizes research about the trade-environmental regulation nexus, relevant for economics and business students
Book Synopsis Handbook on Systemic Risk by : Jean-Pierre Fouque
Download or read book Handbook on Systemic Risk written by Jean-Pierre Fouque and published by Cambridge University Press. This book was released on 2013-05-23 with total page 993 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook on Systemic Risk, written by experts in the field, provides researchers with an introduction to the multifaceted aspects of systemic risks facing the global financial markets. The Handbook explores the multidisciplinary approaches to analyzing this risk, the data requirements for further research, and the recommendations being made to avert financial crisis. The Handbook is designed to encourage new researchers to investigate a topic with immense societal implications as well as to provide, for those already actively involved within their own academic discipline, an introduction to the research being undertaken in other disciplines. Each chapter in the Handbook will provide researchers with a superior introduction to the field and with references to more advanced research articles. It is the hope of the editors that this Handbook will stimulate greater interdisciplinary academic research on the critically important topic of systemic risk in the global financial markets.
Book Synopsis Cleveland Plain Dealer Index by : United States. Work Projects Administration (Ohio)
Download or read book Cleveland Plain Dealer Index written by United States. Work Projects Administration (Ohio) and published by . This book was released on 1940 with total page 1058 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Indicator Handbook by : Richard Yamarone
Download or read book The Economic Indicator Handbook written by Richard Yamarone and published by John Wiley & Sons. This book was released on 2016-12-14 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyze key indicators more accurately to make smarter market moves The Economic Indicator Handbook helps investors more easily evaluate economic trends, to better inform investment decision making and other key strategic financial planning. Written by a Bloomberg Senior Economist, this book presents a visual distillation of the indicators every investor should follow, with clear explanation of how they're measured, what they mean, and how that should inform investment thinking. The focus on graphics, professional application, Bloomberg terminal functionality, and practicality makes this guide a quick, actionable read that could immediately start improving investment outcomes. Coverage includes gross domestic product, employment data, industrial production, new residential construction, consumer confidence, retail and food service sales, and commodities, plus guidance on the secret indicators few economists know or care about. Past performance can predict future results – if you know how to read the indicators. Modern investing requires a careful understanding of the macroeconomic forces that lift and topple markets on a regular basis, and how they shift to move entire economies. This book is a visual guide to recognizing these forces and tracking their behavior, helping investors identify entry and exit points that maximize profit and minimize loss. Quickly evaluate economic trends Make more informed investment decisions Understand the most essential indicators Translate predictions into profitable actions Savvy market participants know how critical certain indicators are to the formulation of a profitable, effective market strategy. A daily indicator check can inform day-to-day investing, and long-term tracking can result in a stronger, more robust portfolio. For the investor who knows that better information leads to better outcomes, The Economic Indicator Handbook is an exceptionally useful resource.
Book Synopsis Financial Soundness Indicators for Financial Sector Stability in Viet Nam by : Asian Development Bank
Download or read book Financial Soundness Indicators for Financial Sector Stability in Viet Nam written by Asian Development Bank and published by Asian Development Bank. This book was released on 2015-09-01 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial soundness indicators (FSIs) are methodological tools that help quantify and qualify the soundness and vulnerabilities of financial systems according to five areas of interests: capital adequacy, asset quality, earnings, liquidity, and sensitivity to market risk. With support from the Investment Climate Facilitation Fund under the Regional Cooperation and Integration Financing Facility, this report describes the development of FSIs for Viet Nam and analyzes the stability and soundness of the Vietnamese banking system by using these indicators. The key challenges to comprehensively implementing reforms and convincingly addressing the root causes of the banking sector problems include (i) assessing banks' recapitalization needs, (ii) revising classification criteria to guide resolution options, (iii) recapitalization and restructuring that may include foreign partnerships, (iv) strengthening the Vietnam Asset Management Company, (v) developing additional options to deal with nonperforming loans, (vi) tightening supervision to ensure a sound lending practice, (vii) revamping the architecture and procedures for crisis management, and (viii) strengthening financial safety nets during the reform process.
Book Synopsis Annual Report - Federal Reserve Bank of Cleveland by : Federal Reserve Bank of Cleveland
Download or read book Annual Report - Federal Reserve Bank of Cleveland written by Federal Reserve Bank of Cleveland and published by . This book was released on 2009 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
