Measuring the systemic importance of large US banks
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The failure of large and connected financial institutions often leads to system-wide financial crises and economic downturns (Labonte 2015). Even absent outright failure and bankruptcy, perceived weakness of a large and connected financial firm can result in decrease valuation of other firms – due to perceived linkages – and overall decrease in market liquidity.
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2013 ◽
Vol 5
(4)
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pp. 270-305
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