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Global banks and crisis transmission
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Perri, Fabrizio - In: Journal of International Economics 89 (2013) 2, pp. 495-510
We study the effect of financial integration (through banks) on the transmission of international business cycles. In a sample of 18/20 developed countries between 1978 and 2009 we find that, in periods without financial crises, increases in bilateral banking linkages are associated with more...
Persistent link: https://www.econbiz.de/10010617220
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Financial Integration and Business Cycle Synchronization
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - C.E.P.R. Discussion Papers - 2009
Standard theory predicts that financial integration leads to a lower degree of business cycle synchronization. Surprisingly, cross-country studies find the opposite. Our contribution is to document the theoretically predicted negative effect of financial integration on business cycle...
Persistent link: https://www.econbiz.de/10005041098
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Global Banks and Crisis Transmission
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Perri, Fabrizio - C.E.P.R. Discussion Papers - 2012
We study the effect of financial integration on the transmission of international business cycles. In a sample of 20 developed countries between 1978 and 2009 we find that, in periods without financial crises, increases in bilateral financial linkages are associated with more divergent output...
Persistent link: https://www.econbiz.de/10011084566
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Cross-border interbank contagion in the European banking sector.
Gabrieli, S.; Salakhova, D.; Vuillemey, G. - Banque de France - 2015
This paper studies the scope for cross-border contagion in the European banking sector using true bilateral exposure … propagation from 2008 to 2012. We study the distribution of contagion outcomes after a common shock and an exogenous bank default … propagation of losses. An econometric analysis of the determinants of contagion shows that the position of a bank in the network …
Persistent link: https://www.econbiz.de/10011212945
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Dynamic Provisioning : Some Lessons from Existing Experiences
Santiago Fernández de Lis; Garcia-Herrero, Alicia - East Asian Bureau of Economic Research (EABER) - 2010
After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of Spainthe country...
Persistent link: https://www.econbiz.de/10009363866
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Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - National Bureau of Economic Research (NBER) - 2009
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on banks' international exposure for industrialized countries during 1978- 2006. Theory makes ambiguous predictions and identification has been elusive due to lack of bilateral...
Persistent link: https://www.econbiz.de/10004991964
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The determinants of international financial integration revisited: the role of networks and geographic neutrality
Arribas, Iván; Pérez, Francisco; Tortosa-Ausina, Emili - Volkswirtschaftliche Fakultät, … - 2009
Over the last two decades, the degree of international financial integration has increased substantially, becoming an important area of research for many financial economists. This paper explores the determinants of the asymmetries in the international integration of banking systems. We consider...
Persistent link: https://www.econbiz.de/10008472244
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Openness and geographic neutrality: How do they contribute to international banking integration?
Pérez, Francisco; Arribas, Iván; Tortosa-Ausina, Emili - Volkswirtschaftliche Fakultät, … - 2009
The aim of this article is to develop new international financial integration indicators together with their determinants: financial openness and regularity (balance) of the bilateral financial flows. The study's contribution is based on the definition of the Standard of Perfect Financial...
Persistent link: https://www.econbiz.de/10005027123
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A network perspective on international banking integration
Arribas, Iván; Pérez, Francisco; Tortosa-Ausina, Emili - In: Journal of Policy Modeling 33 (2011) 6, pp. 831-851
The aim of this article is to develop new international banking integration indicators together with their components: openness and regularity (balance) of the bilateral bank flows. We define the Standard of Perfect Banking Integration (SPBI), which characterizes the scenario attainable when...
Persistent link: https://www.econbiz.de/10011051502
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Assessing Interbank Connectedness Using Transmission Decomposition Techniques: an Application to Eurozone SIFIs
Muijsson, Cherry - Faculty of Economics, University of Cambridge - 2014
impacts of multiple transmission channels such as asset communality, interbank deposits, and information contagion. Asset …
Persistent link: https://www.econbiz.de/10011123548