01658cas a2200253 a 4500 AALejournalIMF006112 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451873771 1018-5941 BD-DhAAL BD-DhAAL Gonzalez-Hermosillo, Brenda. Global Market Conditions and Systemic Risk / Brenda Gonzalez-Hermosillo, Heiko Hesse. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (22 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a watershed event in the crisis, although signs of heightened systemic risk could be detected as early as February 2007. In addition, we analyze the role of global market conditions to help determine when governments should begin to exit their extraordinary public support measures. Mode of access: Internet Hesse, Heiko. IMF Working Papers; Working Paper ; No. 2009/230 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/230/001.2009.issue-230-en.xml IMF e-Library