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Can You Map Global Financial Stability?

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Author Info

  • Jaume Puig
  • Ken Miyajima
  • Rebecca McCaughrin
  • Peter Dattels

Abstract

The Global Financial Stability Map was developed as a tool to interpret the risks and conditions that impact financial stability in a graphical manner. It complements other existing tools for assessing financial stability, and seeks to overcome some of the drawbacks of earlier approaches. This paper provides the motivation for the tool, a detailed discussion of its construction, including the choice of risk factors and conditions, a description of the underlying indicators, and a discussion on how the final assessment is determined. When applied to past events of financial instability, the Global Financial Stability Map performs reasonably well in signaling risks to stability, as well as in characterizing the depth of crisis episodes.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 10/145.

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Length: 42
Date of creation: 01 Jun 2010
Date of revision:
Handle: RePEc:imf:imfwpa:10/145

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Related research

Keywords: Financial stability; Enhanced surveillance; Global Financial Stability Report; Financial risk; Credit risk; inflation; bond; financial system; financial markets; hedge; financial institutions; hedge fund; bonds; financial market; stock market; financial instability; stock market crash; bond index; futures markets; real interest rates; financial sector; hedge funds; corporate bond; monetary policy; market bond; currency crises; futures contracts; corporate bond index; equity markets; hedge fund returns; foreign exchange; bond funds; dividend discount model; real rates; international financial statistics; futures trading; emerging market bond; commodity futures; treasury bond; high inflation; stock index; domestic bonds; corporate bonds; stock indices; global bond market; global bond; hedge fund return; effective exchange rates; stock markets; financial economics; macroeconomic stability; high yield bonds; stock price volatility; government bonds; international reserves; stock price; inflation rate; currency futures; inflation performance; financial fragility; financial policies; hedging; treasury bond yields; bond yields; money supply; stock prices; financial assets; bond market; asset markets; hedge fund index; commodities futures; high-yield bonds; money growth; bond markets; inflation rates;

This paper has been announced in the following NEP Reports:

References

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  1. Jan Willem van den End, 2006. "Indicator and boundaries of financial stability," DNB Working Papers 097, Netherlands Central Bank, Research Department.
  2. O. Aspachs & C. Goodhart & M. Segoviano & D. Tsomocos & L. Zicchino, 2006. "Searching for a Metric for Financial Stability," OFRC Working Papers Series 2006fe09, Oxford Financial Research Centre.
  3. Kenneth A. Froot & Paul G. J. O'Connell, 2003. "The Risk Tolerance of International Investors," NBER Working Papers 10157, National Bureau of Economic Research, Inc.
  4. International Monetary Fund, 2004. "Toward a Framework for Safeguarding Financial Stability," IMF Working Papers 04/101, International Monetary Fund.
  5. Mark Illing & Ying Liu, 2003. "An Index of Financial Stress for Canada," Working Papers 03-14, Bank of Canada.
  6. Martin Cihák, 2006. "How Do Central Banks Writeon Financial Stability?," IMF Working Papers 06/163, International Monetary Fund.
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Citations

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Cited by:
  1. Sarlin, Peter & Peltonen, Tuomas A., 2011. "Mapping the state of financial stability," Working Paper Series 1382, European Central Bank.
  2. Agarwal, Manmohan & Walsh, Sean & Wang, Jing & Whalley, John & Yan, Chen, 2013. "Expected worsening or improving financial instability and the 2008 financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 92-105.
  3. Peter Sarlin, 2014. "Macroprudential oversight, risk communication and visualization," Papers 1404.4550, arXiv.org, revised Jun 2014.
  4. John Whalley & Manmohan Agarwal & Jing Wang & Sean Walsh & Chen Yan, 2011. "Linking External Sector Imbalances and Changing Financial Instability before the 2008 Financial Crisis," NBER Working Papers 17645, National Bureau of Economic Research, Inc.

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