Systemic Risk and Financial Stability in Insurance: Macroprudential Policy Concerns

Krzysztof Jajuga

Chapter 6 in Macroprudential Supervision in Insurance, 2014, pp 136-152 from Palgrave Macmillan

Abstract: Abstract Financial crisis has been the most significant phenomenon to affect the economy over the last two decades. There are at least two characteristic features of financial crises that have been observed recently. Firstly, a financial crisis has a much stronger impact on the real economy than it used to have in the past. This is due to the financialisation of the economy, understood here as the increasing role of financial motivations, financial markets, financial instruments and financial institutions in the functioning of domestic and international economies.

Keywords: Systemic Risk; Financial Stability; Generalize Pareto Distribution; Tail Dependence; Insurance Sector (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43910-9_7

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DOI: 10.1057/9781137439109_7

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