This paper was prepared for presentation at the 54th Economic Policy panel, Budapest, 15–16 April 2011. We are grateful for very useful comments to two anonymous referees, and to Gianluca Benigno, Fernando Broner, Larry Christiano, Mick Devereux, Marty Eichenbaum, Ester Faia, Simon Gilchrist, Mathias Hoffmann, Peter Karadi, Sylvia Kaufmann, Nobuhiro Kiyotaki, Robert Kollmann, Cédric Tille, Oreste Tristani, Paolo Vitale, Philippe Weil, as well as participants at the Economic Policy panel and seminars at ECARES, the San Francisco Fed, the 2009 (EFCE) and 2010 (IFM) NBER Summer Institute, the 1st Bundesbank-CFS-ECB Workshop on Macro and Finance, the 2010 CEPR MGI Conference in Eltsville, and the Workshop on ‘Financial market imperfections, corporate governance and economic outcomes’. The views expressed here are those of the authors and do not necessarily reflect those of the European Central Bank. The Managing Editor in charge of this paper was Philippe Martin.
Financial frictions, financial integration and the international propagation of shocks
Article first published online: 4 APR 2012
© CEPR, CES, MSH, 2012
Volume 27, Issue 70, pages 319–359, April 2012
How to Cite
Dedola, L. and Lombardo, G. (2012), Financial frictions, financial integration and the international propagation of shocks. Economic Policy, 27: 319–359. doi: 10.1111/j.1468-0327.2012.00286.x
- Issue published online: 4 APR 2012
- Article first published online: 4 APR 2012
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