Avdjiev, Stefan; Gambacorta, Leonardo; Goldberg, Linda S.; … - 2025
liquidity flows, away from cross-border bank lending towards international bond issuance. We show that the post-GFC shifts in … the risk sensitivities of global liquidity flows are related to the tightness of the balance sheet (capital and leverage … document that the risk sensitivity of global liquidity flows is higher when funding is provided by financial intermediaries …