March madness in Wall Street: (what) does the market learn from stress tests?
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
2015
|
| Series: | IMF working paper
WP/15/271 |
| Subjects: | |
| Online Access: | FLA01 |
| Item Description: | "December 2015.". - "Research Department." Online resource; title from pdf title page (IMF.org Web site, viewed February 2, 2016) |
| Physical Description: | 1 online resource (34 pages) color illustrations |
| ISBN: | 1513524968 9781513524962 |
Staff View
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| 505 | 8 | |a Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.--Abstract | |
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| contents | Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.--Abstract |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| era | 2008-2009 fast |
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| format | Electronic eBook |
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| id | DE-604.BV045359326 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T08:15:56Z |
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| isbn | 1513524968 9781513524962 |
| language | English |
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| spelling | Fernandes, Marcelo Verfasser aut March madness in Wall Street (what) does the market learn from stress tests? prepared by Marcelo Fernandes, Deniz Igan, and Marcelo Pinheiro [Washington, D.C.] International Monetary Fund 2015 1 online resource (34 pages) color illustrations txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/15/271 "December 2015.". - "Research Department." Online resource; title from pdf title page (IMF.org Web site, viewed February 2, 2016) Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.--Abstract Global Financial Crisis (2008-2009) fast 2008-2009 fast Economic security / Testing fast Information asymmetry fast Uncertainty fast BUSINESS & ECONOMICS / Finance bisacsh Economic security United States Testing Global Financial Crisis, 2008-2009 Uncertainty Information asymmetry Igan, Deniz (IMFstaff) Pinheiro, Marcelo Sonstige oth International Monetary Fund Sonstige oth |
| spellingShingle | Fernandes, Marcelo March madness in Wall Street (what) does the market learn from stress tests? Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seems to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.--Abstract Global Financial Crisis (2008-2009) fast Economic security / Testing fast Information asymmetry fast Uncertainty fast BUSINESS & ECONOMICS / Finance bisacsh Economic security United States Testing Global Financial Crisis, 2008-2009 Uncertainty Information asymmetry |
| title | March madness in Wall Street (what) does the market learn from stress tests? |
| title_auth | March madness in Wall Street (what) does the market learn from stress tests? |
| title_exact_search | March madness in Wall Street (what) does the market learn from stress tests? |
| title_full | March madness in Wall Street (what) does the market learn from stress tests? prepared by Marcelo Fernandes, Deniz Igan, and Marcelo Pinheiro |
| title_fullStr | March madness in Wall Street (what) does the market learn from stress tests? prepared by Marcelo Fernandes, Deniz Igan, and Marcelo Pinheiro |
| title_full_unstemmed | March madness in Wall Street (what) does the market learn from stress tests? prepared by Marcelo Fernandes, Deniz Igan, and Marcelo Pinheiro |
| title_short | March madness in Wall Street |
| title_sort | march madness in wall street what does the market learn from stress tests |
| title_sub | (what) does the market learn from stress tests? |
| topic | Global Financial Crisis (2008-2009) fast Economic security / Testing fast Information asymmetry fast Uncertainty fast BUSINESS & ECONOMICS / Finance bisacsh Economic security United States Testing Global Financial Crisis, 2008-2009 Uncertainty Information asymmetry |
| topic_facet | Global Financial Crisis (2008-2009) Economic security / Testing Information asymmetry Uncertainty BUSINESS & ECONOMICS / Finance Economic security United States Testing Global Financial Crisis, 2008-2009 Uncertainty Information asymmetry |
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