This article presents an analysis of the literature on systemic financial risk. To that end, we
analyze and classify 266 articles that were published no later than September 2016 in the …

We investigate how multinational firms contribute to the transmission of shocks across
countries using a large multicountry firm-level data set that contains cross-border ownership …

ABSTRACT We construct the World Uncertainty Index (WUI) for an unbalanced panel of 143
individual countries on a quarterly basis from 1952. This is the frequency of the word …

In recent years, reporting under International Financial Reporting Standards (IFRS) became
mandatory in many countries. The capital-market effects around this change have been …

Multi-market banks reallocate capital when local credit demand increases after natural
disasters. Using property damage as an instrument for lending growth, we find credit in …

We present a model in which fire sales propagate shocks across bank balance sheets.
When a bank experiences a negative shock to its equity, a natural way to return to target …

We develop a new identification strategy to evaluate the impact of the geographic expansion
of a bank holding company (BHC) across US metropolitan statistical areas (MSAs) on BHC …

We identify the international credit channel by exploiting Mexican supervisory data sets and
foreign monetary policy shocks in a country with a large presence of European and US …

We use data on the 48 largest multinational banking groups to compare the lending of their
199 foreign subsidiaries during the Great Recession with lending by a benchmark of 202 …

We examine the capital-market effects of changes in securities regulation in the European
Union aimed at reducing market abuse and increasing transparency. To estimate causal …