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Assessing Financial Stability: Exploring the Boundaries of Analysis

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  • Fell, John
  • Schinasi, Garry

Abstract

Within the context of a practical framework for safeguarding financial stability — entailing both prevention and resolution — this paper discusses the practical boundaries and challenges of assessing financial stability. The paper characterises the financial stability challenge, discusses concepts and definitions essential for safeguarding stability, and puts forward a practical process (but not a blueprint) for assessments. The paper proposes guidelines for disciplining an assessment process, examines measurement and modelling ambiguities, and identifies areas where significant further progress is necessary.

Suggested Citation

  • Fell, John & Schinasi, Garry, 2005. "Assessing Financial Stability: Exploring the Boundaries of Analysis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 192, pages 102-117, April.
    • Handle: RePEc:cup:nierev:v:192:y:2005:i::p:102-117_10
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    Cited by:

    1. Tao Sun, 2015. "The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries," IMF Working Papers 2015/211, International Monetary Fund.
    2. Édouard Fernandez-Bollo & Desislava Andreeva & Maciej Grodzicki & Lise Handal & Rose Portier, 2021. "Euro area bank profitability and consolidation," Revista de Estabilidad Financiera, Banco de España, issue Primavera.
    3. Chun-Peng Zhang & Rong Kang & Chen Feng, 2016. "Financial Vulnerability, Capital Shocks and Economic Growth: Evidence from China (2005-2014)," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 2(1), pages 23-31.
    4. R. Rupeika-Apoga & S.H. Zaidi & Y.E. Thalassinos & E.I. Thalassinos, 2018. "Bank Stability: The Case of Nordic and Non-Nordic Banks in Latvia," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 39-55.
    5. Lee, Tung-Hao & Chih, Shu-Hwa, 2013. "Does financial regulation affect the profit efficiency and risk of banks? Evidence from China's commercial banks," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 705-724.
    6. repec:ers:journl:v:vi:y:2018:i:2:p:39-55 is not listed on IDEAS
    7. Garry J. Schinasi, 2009. "Defining Financial Stability and a Framework for Safeguarding It," Working Papers Central Bank of Chile 550, Central Bank of Chile.
    8. Vintu Denis & Negotei Ioana-Alina, 2018. "Analysis of Financial Stability: The Construction of a New Composite Financial Stability Index for Euro Area," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 264-270, July.
    9. Diamandis, Panayiotis F. & Drakos, Anastassios A. & Kouretas, Georgios P. & Zarangas, Leonidas, 2011. "Value-at-risk for long and short trading positions: Evidence from developed and emerging equity markets," International Review of Financial Analysis, Elsevier, vol. 20(3), pages 165-176, June.
    10. De Graeve, F. & Kick, T. & Koetter, M., 2008. "Monetary policy and financial (in)stability: An integrated micro-macro approach," Journal of Financial Stability, Elsevier, vol. 4(3), pages 205-231, September.
    11. Valdivia Coria, Joab Dan & Valdivia Coria, Daney David, 2021. "Impacto del Stress Sistémico en el Crecimiento Económico: Caso Guatemala [Systemic Stress Impact on Economic Growth: The case of Guatemala]," MPRA Paper 110669, University Library of Munich, Germany.
    12. Shumaila Zeb & Abdul Sattar, 2017. "Financial Regulations, Profit Efficiency, and Financial Soundness: Empirical Evidence from Commercial Banks of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 56(2), pages 85-103.
    13. Édouard Fernandez-Bollo & Desislava Andreeva & Maciej Grodzicki & Lise Handal & Rose Portier, 2021. "Euro area bank profitability and consolidation," Financial Stability Review, Banco de España, issue Spring.
    14. Malgorzata Mikita, 2022. "The Interrelationship Among Efficiency and Concentration of Banking System and its Stability: Evidence from Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 670-689.
    15. Mr. Derek Anderson & Mr. Benjamin L Hunt & Stephen Snudden, 2013. "Fiscal Consolidation in the Euro Area: How Much Can Structural Reforms Ease the Pain?," IMF Working Papers 2013/211, International Monetary Fund.
    16. Sebastiano Laviola & Juri Marcucci & Mario Quagliariello, 2006. "Stress testing credit risk: experience from the italian FSAP," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(238), pages 269-291.
    17. Chavleishvili, Sulkhan & Fahr, Stephan & Kremer, Manfred & Manganelli, Simone & Schwaab, Bernd, 2021. "A risk management perspective on macroprudential policy," Working Paper Series 2556, European Central Bank.
    18. De Graeve, Ferre & Kick, Thomas, 2008. "Monetary policy and bank distress: an integrated micro-macro approach," Discussion Paper Series 2: Banking and Financial Studies 2008,03, Deutsche Bundesbank.
    19. Peter Sarlin & Henrik J. Nyman, 2013. "The process of macroprudential oversight in Europe," Papers 1312.7545, arXiv.org, revised Sep 2014.
    20. Édouard Fernandez-Bollo & Desislava Andreeva & Maciej Grodzicki & Lise Handal & Rose Portier, 2021. "Euro area bank profitability and consolidation," Financial Stability Review, Banco de España, issue Spring.
    21. Jaume Puig-Forne & Mr. Ken Miyajima & Rebecca McCaughrin & Mr. Peter Dattels, 2010. "Can You Map Global Financial Stability?," IMF Working Papers 2010/145, International Monetary Fund.

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