Nicola Gennaioli is with Bocconi University and IGIER. Alberto Martin is with CREI, UPF, and Barcelona GSE. Stefano Rossi is with Purdue University, CEPR, and ECGI. We are grateful for helpful suggestions from seminar participants at the American Finance Association meetings, the NBER meetings in International Finance and Macroeconomics, the “Sovereign Debt Risk” conference at the George Weiss Center for International Financial Research at Wharton, Bank of England, Bank of Spain, CERGE-EI, CEU, Helsinki, IAE, Lausanne, New York University Stern School of Business, Samuel Johnson Graduate School of Management at Cornell University, Purdue, PSE, Stockholm School of Economics, University of Vigo, ESSIM, XI Workshop in International Economics and Finance in Montevideo, and the Workshop in Institutions, Contracts, and Growth in Barcelona. We have received helpful comments from Senay Agca, Mark Aguiar, Philippe Bacchetta, Matt Billett, Fernando Broner, Eduardo Fernandez-Arias, Pierre-Olivier Gourinchas, Bernardo Guimaraes, Kose John, Andrew Karolyi, Philip Lane, Andrei Levchenko, Guido Lorenzoni, Romain Rancière, Hélène Rey, David Robinson, Katrin Tinn, and Jaume Ventura. We also thank Campbell Harvey, the Editor, an anonymous referee, and an anonymous Associate Editor. Gonçalo Pina and Robert Zymek provided excellent research assistantship. Gennaioli thanks the European Research Council for financial support and the Barcelona GSE Research Network. Martin acknowledges support from the Spanish Ministry of Science and Innovation (grant Ramon y Cajal RYC-2009-04624), the Spanish Ministry of Economy and Competitivity (grant ECO2011-23192), the Generalitat de Catalunya-AGAUR (grant 2009SGR1157), and the Barcelona GSE Research Network. Martin and Gennaioli acknowledge support from the International Growth Center, project RA-2010-03-2006.
Sovereign Default, Domestic Banks, and Financial Institutions
Article first published online: 17 MAR 2014
© 2014 the American Finance Association
The Journal of Finance
Volume 69, Issue 2, pages 819–866, April 2014
How to Cite
GENNAIOLI, N., MARTIN, A. and ROSSI, S. (2014), Sovereign Default, Domestic Banks, and Financial Institutions. The Journal of Finance, 69: 819–866. doi: 10.1111/jofi.12124
- Issue published online: 17 MAR 2014
- Article first published online: 17 MAR 2014
- Accepted manuscript online: 19 NOV 2013 10:01AM EST
- Manuscript Accepted: 13 SEP 2013
- Manuscript Received: 4 APR 2011
- European Research Council
- Barcelona GSE Research Network
- Spanish Ministry of Science and Innovation. Grant Number: Ramon y Cajal RYC-2009-04624
- Spanish Ministry of Economy and Competitivity. Grant Number: ECO2011-23192
- Generalitat de Catalunya-AGAUR. Grant Number: 2009SGR1157
- Barcelona GSE Research Network
- International Growth Center. Grant Number: RA-2010-03-2006
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