Comment on: Credit risk transfer and contagion

A salient feature of the model presented by the authors is the fact that both the banking and the insurance sectors are explicitly considered. Insurance companies have had a more active role in areas where their presence was not traditionally felt and it is important to understand what this new role...

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Bibliographic Details
Published in:Journal of monetary economics 2006, Vol.53 (1), p.113-121
Main Author: Santos, Tano
Format: Article
Language:English
Subjects:
Bank operations
Banking industry
Capital market
Credit risk
Financial systems
Insurance industry
Monetary economics
Risk
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Summary:A salient feature of the model presented by the authors is the fact that both the banking and the insurance sectors are explicitly considered. Insurance companies have had a more active role in areas where their presence was not traditionally felt and it is important to understand what this new role entails for the financial system as a whole. Here, the emphasis of the authors is on the increased role of insurance companies as sellers of credit protection to the banking sector.
ISSN:0304-3932
1873-1295
DOI:10.1016/j.jmoneco.2005.10.010