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Financial Frictions, Financial Integration and the International Propagation of Shocks

Giovanni Lombardo () and Luca Dedola ()

No 288, 2010 Meeting Papers from Society for Economic Dynamics

Abstract: 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.

Date: 2010
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Journal Article: Financial frictions, financial integration and the international propagation of shocks (2012) Downloads
Journal Article: Financial frictions, financial integration and the international propagation of shocks (2011) Downloads
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