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| Christos S Savva |
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| ''Modeling interbank relations during the international financial crisis'' |
| ( 2011, Vol. 31 No.1 ) |
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| This paper examines the effects of the current financial crisis on the correlations of four international banking stocks. We find that in the beginning of the crisis banks generally show a transition to a higher correlation followed by a dramatic decline towards the end of 2008. These findings are consistent with both traditional contagion theory and the more recent network theory of contagion. |
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| Keywords: Financial Crises, Contagion, Interbank Markets |
JEL: C5 - Econometric Modeling: General
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| Manuscript Received : Sep 21 2010 | | Manuscript Accepted : Mar 21 2011 |
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