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The Systemic Risk-Uncertainty-Real Economic Activity Nexus: What is beyond Median Estimation?
Economics Letters. 2024. Vol. 235. Article 111550.
The paper investigates the lead-lag relationships among systemic risk, economic uncertainty and real economic activity for top-5 contributors to global systemic risk, the USA, China, the UK, France and Japan, during January 2010-July 2023. By decomposing these variables into a below- and above-the-median components and applying VAR models to them, we confirm the presence of asymmetric relationships among systemic risk, economic uncertainty and real economic activity. Most of these asymmetric linkages are found for the USA, followed by the UK and China.
Language:
English
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Meissner D., Salati Marcondes de Moraes G. H., Brandão Fischer B. et al., / NRU Higher School of Economics. Series WP BRP "Science, Technology and Innovation". 2025. No. WP BRP /STI/2025.
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Gorodnicheva Y., Bekim A., Klucharev V. et al., , in: 2025 Seventh International Conference Neurotechnologies and Neurointerfaces (CNN).: IEEE, 2025. P. 20–24.
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The relevance of the topic is related to the fact that after the complete abandonment of real values in the 1970s of the main means of international settlements - the US dollar – there is a growing feeling that money increasingly represents an illusory reality. The article begins with an analysis of the illusions associated ...
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Stolbov M., Shchepeleva M., Journal of Finance and Data Science 2024 Vol. 10 Article 100144
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