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Systemic Risk: An Overview

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  • ZELDEA, Cristina Georgiana

    (Institute for World Economy, Romanian Academy.)

Abstract

In hindsight of the 2008 crisis, the conspicuous underestimation of systemic risk has turned into a strong incentive for authors to develop appropriate measurement techniques. Given the continuously changing nature of the financial system, measurement tools have developed quickly to address diverse and progressively more complex aspects, thereby adding to the issue of establishing a universal framework of measuring systemic risk. In this respect, we tried to devise a brief overview of extant systemic risk approaches, from definition to a selection of measurement instruments. Valuable steps have been made towards producing comprehensive models. However, systemic risk measurement and mitigation remain open issues. Classification-JEL: G15, G20, H12

Suggested Citation

  • ZELDEA, Cristina Georgiana, 2019. "Systemic Risk: An Overview," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 23(3), pages 34-48, September.
    • Handle: RePEc:vls:finstu:v:23:y:2019:i:3:p:34-48
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    References listed on IDEAS

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    More about this item

    Keywords

    systemic risk measurement; systemic crises; prudential measures;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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