The uncertainty channel of contagion /

The uncertainty channel of contagion /

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Bibliographic Details
Author / Creator:	Kannan, Prakash, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2009.
Description:	1 online resource (40 pages) : color illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/09/219 IMF working paper ; WP/09/219.
Subject:	Financial crises -- Econometric models. Contagion (Social psychology) -- Economic aspects. Financial crises -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498494

Hidden Bibliographic Details
Other authors / contributors:	Köhler-Geib, Fritzi, author. International Monetary Fund. Research Department.
ISBN:	9781452796475 1452796475 1451917864 9781451917864 1462361811 9781462361816 9786612844232 661284423X 1282844237 9781282844230 9781451873665 1451873662
Digital file characteristics:	text file
Notes:	Includes bibliographical references (pages 39-40). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2011 HathiTrust Digital Library committed to preserve Print version record.
Summary:	The 2007 subprime crisis in the U.S. triggered a succession of financial crises around the globe, reigniting interest in the contagion phenomenon. Not all crises, however, are contagious. This paper models a new channel of contagion where the degree of anticipation of crises, through its impact on investor uncertainty, determines the occurrence of contagion. Incidences of surprise crises lead investors to doubt the accuracy of their information gathering technology, which endogenously increases the probability of crises elsewhere. Anticipated crisis, instead, have the opposite effect. Importantly, this channel is empirically shown to have an independent effect beyond other contagion channels.
Other form:	Print version: Kannan, Prakash. Uncertainty channel of contagion. [Washington, D.C.] : International Monetary Fund, ©2009
Standard no.:	10.5089/9781451917864.001

Description
Summary:	The 2007 subprime crisis in the U.S. triggered a succession of financial crises around the globe, reigniting interest in the contagion phenomenon. Not all crises, however, are contagious. This paper models a new channel of contagion where the degree of anticipation of crises, through its impact on investor uncertainty, determines the occurrence of contagion. Incidences of surprise crises lead investors to doubt the accuracy of their informationgathering technology, which endogenously increases the probability of crises elsewhere. Anticipated crisis, instead, have the opposite effect. Importantly, this channel is empirically shown to have an independent effect beyond other contagion channels.
Physical Description:	1 online resource (40 pages) : color illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 39-40).
ISBN:	9781452796475 1452796475 1451917864 9781451917864 1462361811 9781462361816 9786612844232 661284423X 1282844237 9781282844230 9781451873665 1451873662
ISSN:	2227-8885 ;