Contagion in the Brazilian interbank currency exchange market: an empirical analysis
The risk of contagion is the possibility that the failure of a financial institution affected by an exogenous shock generates the failure of other institutions not initially affected by the shock. As pointed out by Upper and Worms (2002) and others, the domino effect in the payment system depends on...
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| Format: | Article |
| Language: | English |
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Universidade de São Paulo
2006-06-01
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| Series: | Estudos Econômicos |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-41612006000200003 |