Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5084571 | International Review of Financial Analysis | 2016 | 35 Pages |
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.
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Authors
Georgios Magkonis, Andreas Tsopanakis,