Financial Stability. Selected Works

The 2008–2009 financial crisis generated disruptive effects on societies, at large. The aftermath consequences brought to the attention of policy makers the concept of systemic risks ‒ meaning a situation in which an adverse event has the potential to produce negative effects of high scale in other sectors of the financial system as well.Given the implications of such a systemic event, financial stability is of major importance for the general economic equilibrium, as well as for the society’s welfare, and a robust financial system, resilient to shocks, actively contributes to an enduring economic growth ‒ this is the central idea on which dwell the papers of this volume. And the themes vary from the way we perceive macroeconomic stability, to the interaction between financial stability and monetary policy, to the role played in economy by the banking system and the nonfinancial companies, or to the use of specific instruments for tracking the existent risks and vulnerabilities regarding financial stability.