We analyze how financial crises affect international financial integration, exploiting euro area proprietary interbank … data, crisis and monetary policy shocks, and variation in loan terms to the same borrower on the same day by domestic … are stronger in the sovereign-debt crisis, especially for riskier banks. Nonstandard monetary policy improves interbank …

results show that the U.S. states are remarkably well synchronized compared to the previous findings w.r.t. the Euro Area …. There is also a strong and significant correlation between business cycle dissimilitudes and the distance between each pair … of states, consistent to gravity type mechanisms where distance affects trade. Trade, in turn, increases business cycle …

independent currency following business cycle impulses. The shifting of the costs due to a crisis as a result of membership in a …