The financial and fiscal stress interconnectedness: The case of G5 economies

Description

Yes / In this paper, we focus on the financial and fiscal stress transmission for the G5 economies. Using financial and fiscal stress indexes, we assess the spillovers within each economy, as well as the cross-sectional effects. Two supplementary
methodologies, measuring the degree of interconnectedness, are employed. Our findings indicate that the interactions between these two kinds of distress are intensive, especially during and after the Global Financial Crisis outbreak. The above reiterates the necessity for coordinated macroprudential policies, as a means to confine the adverse effects of excessive financial and fiscal stress.

Links & Downloads

1. Magkonis G and Tsopanakis A (2016) The financial and fiscal stress interconnectedness: The case of G5 economies. International Review of Financial Analysis. 46:62-69.
2. http://hdl.handle.net/10454/8305
3. https://doi.org/10.1016/j.irfa.2016.03.019

Tags

Financial stress

Fiscal stress

Spillover index

Causality index

Macroprudential Policies

Additional Fields

Identifer	oai:union.ndltd.org:BRADFORD/oai:bradscholars.brad.ac.uk:10454/8305
Date	2016 April 1918
Creators	Magkonis, Georgios, Tsopanakis, Andreas
Source Sets	Bradford Scholars
Language	English
Detected Language	English
Type	Article, Accepted manuscript
Rights	© 2016 Elsevier Inc. Reproduced in accordance with the publisher's selfarchiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license (http://creativecommons.org/licenses/by-nc-nd/4.0/)