Extreme Contagion in Equity Markets /

This study uses bivariate extremal dependence measures, based on the number of equity return co-exceedances in two markets, to quantify both negative and positive equity returns contagion in mature and emerging equity markets during the past decade. The results indicate (a) higher contagion for nega...

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Bibliografske podrobnosti
Glavni avtor: Yao, James
Drugi avtorji: Chan-Lau, Jorge, Mathieson, Donald
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2002.
Serija:IMF Working Papers; Working Paper ; No. 2002/098
Online dostop:Full text available on IMF
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100 1 |a Yao, James. 
245 1 0 |a Extreme Contagion in Equity Markets /  |c James Yao, Jorge Chan-Lau, Donald Mathieson. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2002. 
300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This study uses bivariate extremal dependence measures, based on the number of equity return co-exceedances in two markets, to quantify both negative and positive equity returns contagion in mature and emerging equity markets during the past decade. The results indicate (a) higher contagion for negative returns than for positive returns; (b) a secular increase in contagion in Latin America not matched in other regions; (c) global increases in contagion following the 1998 financial crises; and (d) that the use of simple correlations as a proxy for contagion could be misleading, as the former exhibit low correlation with extremal dependence measures of contagion. 
538 |a Mode of access: Internet 
700 1 |a Chan-Lau, Jorge. 
700 1 |a Mathieson, Donald. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2002/098 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2002/098/001.2002.issue-098-en.xml  |z IMF e-Library