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The financial and fiscal stress interconnectedness: The case of G5 economies

Georgios, Magkonis and Tsopanakis, Andreas 2016. The financial and fiscal stress interconnectedness: The case of G5 economies. International Review of Financial Analysis 46 , pp. 62-69. 10.1016/j.irfa.2016.03.019

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Abstract

In this paper, we focus on the financial and fiscal stress transmission for the G5 economies. Using financial and fiscal stress indexes, we assess the spillovers within each economy, as well as the cross-sectional effects. Two supplementary methodologies, measuring the degree of interconnectedness, are employed. Our findings indicate that the interactions between these two kinds of distress are intensive, especially during and after the Global Financial Crisis outbreak. The above reiterates the necessity for coordinated macroprudential policies, as a means to confine the adverse effects of excessive financial and fiscal stress.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Publisher: Elsevier
ISSN: 1057-5219
Date of First Compliant Deposit: 28 November 2017
Date of Acceptance: 27 March 2016
Last Modified: 10 Mar 2020 13:42
URI: http://orca.cf.ac.uk/id/eprint/105786

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