Day: January 28, 2021

Procyclicality and the Search for Early Warning Indicators – Synopsis (1)

IMF Working Paper, Research Department By Hyun Song Shin Abstract This paper compares three types of early warning indicators of financial instability – those based on financial market prices, those based on normalized measures of total credit and those based on liabilities of financial intermediaries. Prices perform well as concurrent indicators of market conditions but …

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