Ms. Muffet, the Spider(Gram) and the Web of Macro-Financial Linkages

44 Pages Posted: 28 Jul 2014

See all articles by Ricardo Javier Cervantes

Ricardo Javier Cervantes

International Monetary Fund (IMF)

Phakawa Jeasakul

International Monetary Fund (IMF)

Joseph Maloney

International Monetary Fund (IMF)

Li Ong

International Monetary Fund (IMF)

Date Written: June 2014

Abstract

The global financial crisis has underscored the importance of understanding macro-financial developments and spillovers in an increasingly interconnected and intricate system. At the IMF, staff is focusing on the linkages between the real economy and the financial sector, as well as the inter-relationships between global and individual-country risks. The Country Financial Stability Map provides an empirical framework for explicitly linking these various aspects of the IMF’s surveillance of its member countries. It identifies potential sources of macro-financial risks particular to a country and also enables an assessment of these risks in a global context through comparisons with the corresponding Global Financial Stability Map from the Global Financial Stability Report. The authors have developed an Excel-based tool (“Ms. Muffet”) to facilitate this analysis, which may be replicated by external users with access to the necessary databases, using the accompanying template.

Keywords: Financial risk, Bilateral surveillance, Multilateral surveillance, Financial stability, Bilateral, Country Financial Stability Map, Global Financial Stability Map, Ms. Muffet, macro-financial risks and conditions, multilateral., financial system, inflation, financial sector, monetary policy, financial regulation, international finance, stock market, international financial statistics, international reserves, foreign exchange, government bond, financial market, moral hazard, financial systems, liquidity support, government bond yields, financial instability, macroeconomic stability, bond yields, stock markets, money supply, financial institutions, macroeconomic performance, hedge, bonds, real

JEL Classification: E20, F3, G10, G30

Suggested Citation

Cervantes, Ricardo Javier and Jeasakul, Phakawa and Maloney, Joseph and Ong, Li, Ms. Muffet, the Spider(Gram) and the Web of Macro-Financial Linkages (June 2014). IMF Working Paper No. 14/99, Available at SSRN: https://ssrn.com/abstract=2472860

Ricardo Javier Cervantes (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Phakawa Jeasakul

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Joseph Maloney

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Li Ong

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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