Measuring financial stress in a developed country: An application to Canada
作者： Mark Illing , Ying Liu
DOI: 10.1016/J.JFS.2006.06.002
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摘要: Abstract This paper develops an index of financial stress for the Canadian system. It is a continuous variable with spectrum values, where extreme values are called crises. An internal Bank Canada survey used to condition choice variables. The authors show that alternative measures crisis suggested by literature do not accurately reflect experience, while several developed in this more representative and thus likely better suited accurate characterization prerequisite any researcher attempting forecast
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