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This paper studies the transmission of the Global Financial Cycle (GFC) to domestic credit market conditions in a large emerging market, Turkey, over 2003–13. We use administrative data covering the universe of corporate credit transactions matched to bank balance sheets to document four...
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We study the transmission of global financial uncertainty to an emerging market economy, Turkey, using data on the universe of corporate loan transactions over 2003-2013. International arbitrage implies that a decline in global uncertainty reduces country risk, which narrows the deviation from...
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a speech at the Sandridge Lecture, Virginia Association of Economics, Richmond, Virginia, March 10, 2005 and the Homer Jones Lecture, St. Louis, Missouri, on April 14, 2005
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a speech at the Bundesbank Lecture, Berlin, Germany
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