Over the last decade or so, addressing financial instability has become a policy priority.
Despite the efforts made, policymakers are still a long way from developing a satisfactory …

Growing complexity and episodic turmoil in the financial system call for reassessment of
existing early warning systems (EWSs) for systemic risk. This paper critically reviews the …

The aim of this paper is to construct the first comprehensive Financial Stress Index for
Lebanon, dubbed the IFEFSI (Institute of Financial Economics Financial Stress Index). This …

In this paper, we measure the interdependence of three financial stress sub-indices
(banking, securities and foreign exchange) for the major advanced economies during the …

This paper builds on existing microprudential and macroprudential early warning systems
(EWSs) to develop a new, hybrid class of models for systemic risk that incorporates the …

Over the last decade or so, addressing financial instability¿ has risen to the top of national
and international policy agendas. Policymakers in general and central banks in particular …

This paper employs a panel vector autoregressive (PVAR) model to investigate the
relationship among financial stress, inflation and growth in 19 advanced economies over the …

Financial Stress, Monetary Policy, and Economic Activity Page 1 Working Paper/Document de
travail 2010-12 Financial Stress, Monetary Policy, and Economic Activity by Fuchun Li and …

We propose a novel framework to assess financial system risk. Using a dynamic factor
framework based on state-space methods, we construct coincident measures …

Over the past two decades, Germany experienced several periods of banking system
instability rather than full-blown banking system crises. In this paper we introduce a …