Transmisja czynników ryzyka

Prakash Kannan, Friederike (Fritzi) Koehler-Geib
The subprime crisis became the global crisis when the 2007 financial shock mutated into a full-blown global economic crisis in September 2008. This column attributes the rapid transmission of financial stress to the surprise of the crisis. Using historical data, it shows that crises with a pronounced surprise element tend to result in more widespread contagion.

Full Article: Why did the crisis go global?"