Publication
19 Jun 2013
This paper analyzes the international transmission of financial stress and its effects on economic activity. The authors construct monthly specific financial stress indexes (FSI) for 20 countries, before using a Global VAR (GVAR) model to examine the international transmission of financial stress. They conclude that financial stress is rapidly transmitted internationally and has a persistent negative effect on economic activity, however economic slowdowns only induce limited financial stress.
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English (PDF, 34 pages, 568 KB) |
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Author | Jonas Dovern, Björn van Roye |
Series | Kiel Institute Working Papers |
Issue | 1844 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2013 Kiel Institute for the World Economy |