Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 12, 2023 erstellt
Beschreibung:
Will the collapse of the crypto-assets market also lead to the collapse of the stock market? This is an important policy issue amid concerns about the impact of the crypto-assets market on the stock market, given the recent increase in correlation between both markets. We find that the recent increase in the correlation is mainly due to risks in the stock market, while the crypto-specific risks are decreasing the linkage between both markets. Risk spillover seems to be one-sided and limited from crypto-assets. However, if the crypto-transactions expand, the connectedness through crypto-assets holdings may lead to risk spillover