Systemic risk measures: the simpler the better?
نویسندگان
چکیده
The financial system plays a fundamental role in the global economy as the middleman between agents who need to borrow and agents who are willing to lend or invest. As a consequence, it is naturally linked to all economic sectors and, therefore, if the financial system does not work properly, its problems have a strong impact on the real economy. We can see this in the deteriorating fundamental macro variables of the United States and Europe, including GDP growth rate, unemployment rates and government deficits.
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