'Near-Coincident' Indicators of Systemic Stress

Leverage and systemic risk pro-cyclicality in the Chinese financial system

“…(i) Possibility of frequent updates; (ii) As an ex ante indicator, it is useful to quantify the build-up of systemic risk for regulators;(i) Accounting for market capitalization and liabilities in the denition of the systemic risk measure tends to increase the systemic risk score of large rms.Source: Own elaboration onArsov et al (2013), andBenoit et al (2017).…”