A Monitoring Framework for Global Financial Stability

Tobias Adrian, Dong He, Nellie Liang and Fabio Natalucci

No 2019/006, IMF Staff Discussion Notes from International Monetary Fund

Abstract: This paper describes the conceptual framework that guides assessments of financial stability risks for multilateral surveillance, as currently presented in the Global Financial Stability Report (GFSR). The framework emphasizes consistency in measuring financial vulnerabilities across countries and over time and offers a summary statistic to quantify aggregate financial stability risks. The two parts of the empirical approach—a matrix of specific vulnerabilities and a summary measure of financial stability risks—are distinct but highly complementary for monitoring and policymaking.

Keywords: SDN; financial condition; price; risk; GDP; downside risk; Financial stability; financial conditions; macroprudential policy; price of risk; term structure; financial market risk appetite; fire-sale risk; loose financial conditions; growth distribution; financial conditions switch; equity price; Financial sector risk; Financial sector stability; Growth-at-risk assessment; Financial conditions index; Global (search for similar items in EconPapers)
Pages: 31
Date: 2019-08-26
New Economics Papers: this item is included in nep-mac
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