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Assessing Financial Stability: Exploring the Boundaries of Analysis

Author

Listed:
  • John Fell

    (European Central Bank, john.fell@ecb.int)

  • Garry Schinasi

    (International Monetary Fund, gschinasi@imf.org)

Abstract

Within the context of a practical framework for safeguarding financial stability - entailing both prevention and resolution - this paper discusses the practical boundaries and challenges of assessing financial stability. The paper characterises the financial stability challenge, discusses concepts and definitions essential for safeguarding stability, and puts forward a practical process (but not a blueprint) for assessments. The paper proposes guidelines for disciplining an assessment process, examines measurement and modelling ambiguities, and identifies areas where significant further progress is necessary.

Suggested Citation

  • John Fell & Garry Schinasi, 2005. "Assessing Financial Stability: Exploring the Boundaries of Analysis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 192(1), pages 102-117, April.
  • Handle: RePEc:sae:niesru:v:192:y:2005:i:1:p:102-117
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    File URL: http://ner.sagepub.com/content/192/1/102.abstract
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    Citations

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    Cited by:

    1. De Graeve, F. & Kick, T. & Koetter, M., 2008. "Monetary policy and financial (in)stability: An integrated micro-macro approach," Journal of Financial Stability, Elsevier, vol. 4(3), pages 205-231, September.
    2. repec:pid:journl:v:56:y:2017:i:2:p:85-103 is not listed on IDEAS
    3. Peter Sarlin & Henrik J. Nyman, 2013. "The process of macroprudential oversight in Europe," Papers 1312.7545, arXiv.org, revised Sep 2014.
    4. Derek Anderson & Benjamin L Hunt & Stephen Snudden, 2013. "Fiscal Consolidation in the Euro Area; How Much Can Structural Reforms Ease the Pain?," IMF Working Papers 13/211, International Monetary Fund.
    5. Sebastiano Laviola & Juri Marcucci & Mario Quagliariello, 2006. "Stress testing credit risk: experience from the italian FSAP," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 59(238), pages 269-291.
    6. Chun-peng Zhang & Rong Kang & Chen Feng, 2016. "Financial Vulnerability, Capital Shocks and Economic Growth: Evidence from China (2005—2014)," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 2(1), pages 23-31, November.
    7. Lee, Tung-Hao & Chih, Shu-Hwa, 2013. "Does financial regulation affect the profit efficiency and risk of banks? Evidence from China's commercial banks," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 705-724.
    8. De Graeve, Ferre & Kick, Thomas, 2008. "Monetary policy and bank distress: an integrated micro-macro approach," Discussion Paper Series 2: Banking and Financial Studies 2008,03, Deutsche Bundesbank.
    9. repec:ers:journl:v:vi:y:2018:i:2:p:39-55 is not listed on IDEAS
    10. Garry J. Schinasi, 2009. "Defining Financial Stability and a Framework for Safeguarding It," Working Papers Central Bank of Chile 550, Central Bank of Chile.
    11. Tao Sun, 2015. "The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries," IMF Working Papers 15/211, International Monetary Fund.

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