, China in practice banned imports of Norwegian salmon. The ban was an unexpected trade shock to the Norwegian salmon industry …. Using bank balance sheet and credit register data, we trace how this trade shock affected the lending behavior of banks … highly exposed to the salmon industry when the shock occurred. We find that, in the years following the trade shock, highly …

productivity shocks. It allows the model to match the volatility and correlation with output of the external finance premium, bank … simulation of a bank balance sheet shock produces a downturn of a magnitude similar to the "Great Recession" …

-country asymmetries in monetary transmission. To do so, I determine how closely the impulse responses to a monetary policy shock obtained … find that up to 70% (50%) of the cross-country asymmetries in the responses of output (prices) to a monetary policy shock …