Special Issue: Network Approaches to Interbank Markets
Author : Simone Alfarano
Publisher :
Page : pages
File Size : 15,71 MB
Release : 2016
Category :
ISBN :
Author : Simone Alfarano
Publisher :
Page : pages
File Size : 15,71 MB
Release : 2016
Category :
ISBN :
Author : Kartik Anand
Publisher :
Page : 23 pages
File Size : 18,93 MB
Release :
Category : Banks and banking
ISBN :
The network pattern of financial linkages is important in many areas of banking and finance. Yet bilateral linkages are often unobserved, and maximum entropy serves as the leading method for estimating counterparty exposures. This paper proposes an efficient alternative that combines information-theoretic arguments with economic incentives to produce more realistic interbank networks that preserve important characteristics of the original interbank market. The method loads the most probable links with the largest exposures consistent with the total lending and borrowing of each bank, yielding networks with minimum density. When used in a stress-testing context, the minimum density solution overestimates contagion, whereas maximum entropy underestimates it. Using the two benchmarks side by side defines a useful range that bounds the cost of systemic stress present in the true interbank network when counterparty exposures are unknown.
Author : Falk Bräuning
Publisher :
Page : 0 pages
File Size : 10,44 MB
Release : 2016
Category :
ISBN :
Author : Mr.Bernard Laurens
Publisher : International Monetary Fund
Page : 108 pages
File Size : 18,61 MB
Release : 1996-09-26
Category : Business & Economics
ISBN : 9781557755629
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
Author : American Bar Association. House of Delegates
Publisher : American Bar Association
Page : 216 pages
File Size : 48,87 MB
Release : 2007
Category : Law
ISBN : 9781590318737
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author : L. Nijs
Publisher : Springer
Page : 317 pages
File Size : 43,29 MB
Release : 2016-01-26
Category : Business & Economics
ISBN : 1137535563
In today's increasingly globalized environment, many economic fundamentals need to be reconsidered in order to regain stability in the global marketplace. One such consideration is the failing dynamics of the international tax infrastructure. Neoliberalism 2.0 brings a 21st century assessment of the Pigovian taxes, considering a completely new calibration of the international tax systems, inspired by the historically developed Pigovian tax model. The book considers the impact neoliberalism had and will have on regulatory infrastructure, democracy in an era of globalization and reduced legitimation of the national state. The Pigovian model brings home the often forgotten relationship between taxation (as a part of the regulatory sphere), macro-economics, and the political-philosophical context in which law and economics emerge. The model also takes into account the phenomena of globalization and financialization and is tested using the financial sector as an example. This book addresses the many challenges a Pigovian shift would imply for the sovereign and its national economies. Neoliberalism 2.0 demonstrates the ability to design a paradigm-changing alternative to the current tax infrastructure, while taking into account a low economic growth environment of the future, the implications of globalization and the changing relationship between citizens and their state.
Author : Ben Craig
Publisher :
Page : 50 pages
File Size : 44,90 MB
Release : 2010
Category : Banks and banking
ISBN :
Author : Mr.Jorge A. Chan-Lau
Publisher : International Monetary Fund
Page : 27 pages
File Size : 20,8 MB
Release : 2010-04-01
Category : Business & Economics
ISBN : 1455200662
The 2008/9 financial crisis highlighted the importance of evaluating vulnerabilities owing to interconnectedness, or Too-Connected-to-Fail risk, among financial institutions for country monitoring, financial surveillance, investment analysis and risk management purposes. This paper illustrates the use of balance sheet-based network analysis to evaluate interconnectedness risk, under extreme adverse scenarios, in banking systems in mature and emerging market countries, and between individual banks in Chile, an advanced emerging market economy.
Author : Marco A Espinosa-Vega
Publisher : International Monetary Fund
Page : 29 pages
File Size : 17,80 MB
Release : 2010-04-01
Category : Business & Economics
ISBN : 1455200646
Effective cross-border financial surveillance requires the monitoring of direct and indirect systemic linkages. This paper illustrates how network analysis could make a significant contribution in this regard by simulating different credit and funding shocks to the banking systems of a number of selected countries. After that, we show that the inclusion of risk transfers could modify the risk profile of entire financial systems, and thus an enriched simulation algorithm able to account for risk transfers is proposed. Finally, we discuss how some of the limitations of our simulations are a reflection of existing information and data gaps, and thus view these shortcomings as a call to improve the collection and analysis of data on cross-border financial exposures.
Author : Mehmet Ziya Gorpe
Publisher : International Monetary Fund
Page : 63 pages
File Size : 19,86 MB
Release : 2019-05-10
Category : Business & Economics
ISBN : 1498312071
This paper presents a novel approach to investigate and model the network of euro area banks’ large exposures within the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic risk of the euro area banking system based on bilateral linkages. We develop a Contagion Mapping model fully calibrated with bank-level data to study the contagion potential of an exogenous shock via credit and funding risks. We find that tipping points shifting the euro area banking system from a less vulnerable state to a highly vulnerable state are a non-linear function of the combination of network structures and bank-specific characteristics.