Calomiris, Charles W.; Love, Inessa; Pería, Martínez; … - In: Journal of International Money and Finance 31 (2012) 4, pp. 743-765
We consider three “crisis shocks” related to key features of the 2007–2008 crisis, for emerging and developed economies: (1) the collapse of global trade, (2) the contraction of credit supply, and (3) selling pressure on firms’ equity. Using an international cross-section of firms, we...