Exporting Sovereign Stress: Evidence from Syndicated Bank Lending during the Euro Area Sovereign Debt Crisis
in Review of Finance
August 2015; p ublished online November 2014 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Banking; International Finance; Money and Interest Rates. 16356 words.
We show that after the start of the euro area sovereign debt crisis, lending by non-GIIPS European banks with sizeable holdings of GIIPS sovereign bonds declined relative to nonexposed...
in Economic Policy
April 2015; p ublished online March 2015 .
Journal Article. Subjects: International Finance; Financial Institutions and Services; Banking; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 16649 words.
Since the global financial crisis, banks and bond investors have increased the outstanding US dollar credit to non-bank borrowers outside the United States from $6 trillion to $9 trillion....