Procyclicality and the search for early warning indicators /

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Bibliographic Details
Corporate author / creator:	International Monetary Fund.
Imprint:	Washington, District of Columbia : International Monetary Fund, 2013.
Description:	1 online resource (17 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/13/258 IMF working paper ; WP/13/258.
Subject:	Financial crises. Business cycles. Business cycles. Financial crises. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12510103

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Other authors / contributors:	Shin, Hyun Song.
ISBN:	9781484320839 1484320832 9781484321386 1484321383
Notes:	Includes bibliographical references. Online resource; title from PDF title page (ebrary, viewed February 5, 2014).
Summary:	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 are not suitable as early warning indicators. Total credit and liabilities convey similar information and perform better as early warning indicators, but liabilities are more transparent and the decomposition between core and non-core liabilities convey additional useful information.

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