January 2022: VoxEU Column – Identifying indicators of systemic risk

by Benny Hartwig, Christoph Meinerding, and Yves S. Schüler

In the aftermath of the global financial crisis, a consensus rapidly emerged that systemic risk – a central concept in financial stability – needed to be contained going forward. However, to this day experts cannot agree on how to measure systemic risk in the first place, with researchers having proposed a plethora of indicators. This column proposes an analytical approach designed to lend structure to this universe of indicators for measuring systemic risk.

: Identifying indicators of systemic risk