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This paper contributes to the understanding of the international financial linkages created by US banks by looking at the geographical composition and structure of the balance sheet of foreign branches. The empirical investigation, which is based on a novel dataset containing balance sheet...
Persistent link: https://www.econbiz.de/10011456838
Existing literature has identified domestic restrictive monetary policy and deteriorating funding conditions as the predominant factors explaining the increase in net interoffice accounts of global banks, that is, the net liabilities of parent offices due to their related foreign offices. The...
Persistent link: https://www.econbiz.de/10011708980
Existing literature has identified domestic restrictive monetary policy and deteriorating funding conditions as the predominant factors explaining the increase in net interoffice accounts of global banks, that is, the net liabilities of parent offices due to their related foreign offices. The...
Persistent link: https://www.econbiz.de/10011312233
fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to …
Persistent link: https://www.econbiz.de/10010274777
fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to …
Persistent link: https://www.econbiz.de/10010288861
fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to …
Persistent link: https://www.econbiz.de/10008606489
fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to …
Persistent link: https://www.econbiz.de/10008799726
This paper develops a quantitative model of debt, default, and contagion of financial crises for small open economies … explanation of the contagion of financial crises. …
Persistent link: https://www.econbiz.de/10005151233
The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is related...
Persistent link: https://www.econbiz.de/10011186628
Abstract: The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is...
Persistent link: https://www.econbiz.de/10011199228