large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …, resulting in larger cumulated output losses and a prolonged crisis particularly in the UK. Stricter enforcement of bank capital … requirements would have deepened the initial slump while simultaneously speeding up the recovery. The effects of higher capital …

predictive of crises irrespective of other types of capital flows, while it is entirely inactive for emerging economies. I show …

predictive of crises irrespective of other types of capital ows, while it is entirely inactive for emerging economies. I show …

predictive of crises irrespective of other types of capital ows, while it is entirely inactive for emerging economies. I show …

the direct and indirect exposures of emerging economies to crisis countries and tests whether these matter for capital … market economies more exposed directly or indirectly to banks in the crisis-affected countries suffered more capital outflows …