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International fiscal-financial spillovers : the effect of fiscal shocks on cross-border bank lending

Choi, Sangyup; Furceri, Davide; Yoon, Chansik - 2019

This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous...