Ms. Muffet, the Spider(gram) and the Web of Macro-Financial Linkages

Ricardo Cervantes, Phakawa Jeasakul, Joseph Maloney and Li Ong

No 2014/099, IMF Working Papers from International Monetary Fund

Abstract: The global financial crisis has underscored the importance of understanding macro-financial developments and spillovers in an increasingly interconnected and intricate system. At the IMF, staff is focusing on the linkages between the real economy and the financial sector, as well as the inter-relationships between global and individual-country risks. The Country Financial Stability Map provides an empirical framework for explicitly linking these various aspects of the IMF’s surveillance of its member countries. It identifies potential sources of macro-financial risks particular to a country and also enables an assessment of these risks in a global context through comparisons with the corresponding Global Financial Stability Map from the Global Financial Stability Report. The authors have developed an Excel-based tool (“Ms. Muffet”) to facilitate this analysis, which may be replicated by external users with access to the necessary databases, using the accompanying template.

Keywords: WP; Bilateral; Country Financial Stability Map; Global Financial Stability Map; Ms. Muffet; macro-financial risks and conditions; multilateral; risk appetite; CFSM output; spillover risk; risk pricing; CFSM consist; CFSM component; macro-financial risks; GFSM show consistency; risk category; CFSM methodology; Financial sector stability; Global financial crisis of 2008-2009; Credit risk; Liquidity risk; Market risk; Global (search for similar items in EconPapers)
Pages: 43
Date: 2014-06-10
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Citations: View citations in EconPapers (4)

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