Footnote:
In: Systemic Risk: Liquidity Risk, Governance and Financial Stability, Forthcoming
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 1, 2013 erstellt
Description:
To measure the systemic risk in financial markets, and rank systemically important financial institutions (SIFIs), we propose a methodology based on the Google PageRank algorithm. We understand the economic system as interconnected risk shocks of firms in both the financial sector and the real economy. By taking into account both sectors, we demonstrate the efficacy of intervention programs, such as the TARP, as circuit breakers in the propagation of crises - something not evident in applications which address only financial firms