Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

By Nicola Cetorelli, Linda Goldberg. 2012

148 citations recorded by the source corpus.

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Liquidity management of U.S. global banks: internal capital markets in the Great Recession (2011, unknown): “5 Indirect evidence is provided by De Haas and Lleyveld (2010) and Cetorelli and Goldberg (2011), while direct evidence is provided by Cetorelli and Goldberg (forthcoming) and Cetorelli and Goldberg (2012).”
Dollar funding and the lending behavior of global banks (2012, background): “In addition to the important early contributions by Peek and Rosengren (1997, 2000), recent research includes Acharya and Schnabl (2010), Chava and Purnanandam (2011), Schnabl (2012), and Cetorelli and Goldberg (2011, 2012a, 2012b).”
Multinational banks and the global financial crisis: Weathering the perfect storm? (2014, background): “Cetorelli and Goldberg (2012a) show that during the recent crisis U.S. parent banks shielded their “core” (relatively large) foreign affiliates when they had to reduce internal funding, while Cetorelli and Goldberg (2012b) find a similar pecking order among the branches of foreign banks in the U.S.…”
Covered interest parity lost: understanding the cross-currency basis (2016, background): “…the demand for currency hedges is sufficiently high and imbalanced across currencies.3 2 Also, unlike in earlier US dollar funding stress episodes (Cetorelli and Goldberg (2011, 2012)), banks have drawn very little on central bank swap lines: https://apps.newyorkfed.org/markets/autorates/…”