Research insight
When shock transmission rotates
Aggregate connectedness can hide a changing transmission structure.
Issue 003
Public research
Insights
Expanded research on systemic risk, market structure and cross-asset fragility.
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Tuesday Research
When Shock Transmission Rotates
Aggregate connectedness can remain high even as the sectors carrying downside shocks rotate across major drawdowns.
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Technical Thursday
Volatility Peaks First. Market Structure Peaks Later.
Across 28 VIX shock episodes, volatility peaks after a median 5.5 trading days while common-factor dominance peaks much later.
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