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Financial Frictions, Financial Integration and the International Propagation of Shocks

Listed author(s):
  • Giovanni Lombardo

    (European Central Bank)

  • Luca Dedola

    (European Central Bank and CEPR)

risky assets, if asset markets are integrated across the board, reflecting a strong pressure towards the cross-border equalization of external finance premia faced by levered investors. In turn, the resulting global flight to quality may bring about tight international linkages in (de-)leveraging, financial and macroeconomic dynamics.

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File URL: https://economicdynamics.org/meetpapers/2010/paper_288.pdf
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Paper provided by Society for Economic Dynamics in its series 2010 Meeting Papers with number 288.

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Date of creation: 2010
Handle: RePEc:red:sed010:288
Contact details of provider: Postal:
Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

Web page: http://www.EconomicDynamics.org/
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  14. Koopman, Siem Jan & Lucas, André & Schwaab, Bernd, 2011. "Modeling frailty-correlated defaults using many macroeconomic covariates," Journal of Econometrics, Elsevier, vol. 162(2), pages 312-325, June.
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