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International bank portfolios constitute a large component of international country portfolios. Yet, their response to … macroeconomic conditions and their impact on the international transmission of business cycles developments remains largely … unexplored. We use a novel dataset on banks' international portfolios to answer three questions. First, what are the long …
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persistent international spillovers. …
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international transmission of financial shocks on business cycle fluctuations also tends to be large and persistent. …
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