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150128 ||| eng |
| 020 |
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|a 9781451847635
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| 100 |
1 |
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|a De Nicolo, Gianni
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| 245 |
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0 |
|a Systemic Risk and Financial Consolidation
|b Are they Related?
|c Gianni De Nicolo, Myron Kwast
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2002
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| 300 |
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|a 26 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Commercial banks
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Stocks
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| 653 |
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|a Banks
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| 653 |
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|a Pension Funds
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| 653 |
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|a Finance
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| 653 |
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|a Banks and banking
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a Financial institutions
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| 653 |
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|a Financial Instruments
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| 653 |
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|a General Financial Markets: Government Policy and Regulation
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Mortgages
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Loans
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| 653 |
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|a Systemic risk
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| 653 |
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|a Financial risk management
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Investments: Stocks
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| 653 |
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|a Financial sector risk
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| 653 |
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|a Banking
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| 653 |
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|a Investment & securities
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| 653 |
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|a Finance: General
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| 700 |
1 |
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|a Kwast, Myron
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451847635.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2002/055/001.2002.issue-055-en.xml?cid=15680-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We argue that firm interdependencies, as measured by correlations of stock returns, provide an indicator of systemic risk potential. We find a positive trend in stock return correlations net of diversification effects for a sample of U.S. Large and Complex Banking Organizations over 1988-99. This finding suggests that the systemic risk potential in the financial sector may have increased. In addition, we find a positive consolidation elasticity of correlations. However, such elasticity exhibits substantial time variation and likely declined in the latter part of the decade. Thus, factors other than consolidation have also been responsible for the upward trend in return correlations
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