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| Estimating Spillover Risk Among Large EU Banks by Martin Čihák of the International Monetary Fund, and November 2007 Abstract: The paper examines the scope for cross-border spillovers among major EU banks using information contained in the stock prices and financial statements of these banks. The results suggest that spillovers within domestic banking systems generally remain more likely, but the number of significant cross-border links is already larger than the number of significant links among domestic banks, adding a piece of empirical evidence supporting the need for strong cross-border supervisory cooperation within the EU. JEL Classification: G21, G12, G28. Keywords: European Union, financial stability, spillovers, contagion, large banks. Books Referenced in this paper: (what is this?)
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