investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … increase their overall investments in securities, especially in those that had a larger price drop. The quantitative effects …

's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It … highlights the central importance of two financial factors: income on international investments and changes in the valuations of … those investments. We show how the characteristics of a country's international investment portfolio - the size of its …