This paper tests financial contagion due to interbank linkages. For identification we exploit an idiosyncratic, sudden shock caused by a large-bank failure in conjunction with detailed data on interbank exposures. First, we find robust evidence that higher interbank exposure to the failed bank...

This paper tests financial contagion due to interbank linkages. For identification we exploit an idiosyncratic, sudden shock caused by a large-bank failure in conjunction with detailed data on interbank exposures. First, we find robust evidence that higher interbank exposure to the failed bank...

ILO has predicted that economic disruptions caused by the pandemic have the potential to render the already vulnerable informal workers into deeper levels of poverty and deprivation. Despite this, there has been little to no urgency by state actors to extend protection and security to these...