SYSTEMIC RISK: AN OVERVIEW

Cristina Zeldea

Studii Financiare (Financial Studies), 2019, vol. 23, issue 3, 34-48

Abstract: In hindsight of the 2008 crisis, the conspicuous underestimation of systemic risk has turned into a strong incentive for authors to develop appropriate measurement techniques. Given the continuously changing nature of the financial system, measurement tools have developed quickly to address diverse and progressively more complex aspects, thereby adding to the issue of establishing a universal framework of measuring systemic risk. In this respect, we tried to devise a brief overview of extant systemic risk approaches, from definition to a selection of measurement instruments. Valuable steps have been made towards producing comprehensive models. However, systemic risk measurement and mitigation remain open issues. Classification-JEL: G15, G20, H12

Keywords: systemic risk measurement; systemic crises; prudential measures (search for similar items in EconPapers)
Date: 2019
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