Pure Contagion and Investors Shifting Risk Appetite: Analytical Issues and Empirical Evidence

@inproceedings{Kumar2001PureCA,
  title={Pure Contagion and Investors Shifting Risk Appetite: Analytical Issues and Empirical Evidence},
  author={Manmohan S. Kumar and Avinash D. Persaud},
  year={2001}
}
This paper discusses a "pure" form of financial contagion, unrelated to economic fundamentals - investors' shifting appetite for risk. It provides an analytical framework for identifying changes in investors' risk appetite and discusses whether it is possible to directly measure them in a way that can enable policy makers to differentiate between financial contagion and domestic fundamentals as the immediate source of a crisis. Daily measures of risk appetite are computed and their usefulness… CONTINUE READING

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