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Business cycle synchronization: The role of US global banks

Abstract : This paper contributes to our understanding of international financial linkages created by US banks by looking at the geography of the balance sheet of their foreign branches. The empirical investigation presented in this paper shows some preliminary evidence in favor of the fact that the magnitude of operations of foreign branches can significantly explain business cycle synchronization between a host country and the US. The normative suggestions arising from our results highlight the international coordination of caps on intra-office flows.
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Submitted on : Tuesday, October 20, 2020 - 3:37:51 PM
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  • HAL Id : hal-02972712, version 1



Carmela D’avino. Business cycle synchronization: The role of US global banks. Economics Bulletin, Economics Bulletin, 2020, 40 (3), pp.1863-1878. ⟨hal-02972712⟩



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