Ms. Muffet, the Spider(gram) and the Web of Macro-Financial Linkages

Author/Editor: Ricardo Cervantes ; Phakawa Jeasakul ; Joseph Maloney ; Li Lian Ong
Publication Date: June 10, 2014
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: The global financial crisis has underscored the importance of understanding macro-financial developments and spillovers in an increasingly interconnected and intricate system. At the IMF, staff is focusing on the linkages between the real economy and the financial sector, as well as the inter-relationships between global and individual-country risks. The Country Financial Stability Map provides an empirical framework for explicitly linking these various aspects of the IMF’s surveillance of its member countries. It identifies potential sources of macro-financial risks particular to a country and also enables an assessment of these risks in a global context through comparisons with the corresponding Global Financial Stability Map from the Global Financial Stability Report. The authors have developed an Excel-based tool (“Ms. Muffet”) to facilitate this analysis, which may be replicated by external users with access to the necessary databases, using the accompanying template.
Series: Working Paper No. 14/99
Subject(s): Financial risk | Bilateral surveillance | Multilateral surveillance | Financial stability

Publication Date: June 10, 2014
ISBN/ISSN: 9781498366397/1018-5941 Format: Paper
Stock No: WPIEA2014099 Pages: 43
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