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  • Cross-Border Banking in Europe: Implications for Financial Stability and Macroeconomic Policies 

    LANE, PHILIP RICHARD (Centre for Economic Policy Research, 2011)
    Understanding the role of banks in cross-border finance has become an urgent priority. Cross-border banks have played a central role in the dynamics of the global crisis of 2007-2009. First, European banks had a ...
  • Debt Overhang in Emerging Europe? 

    This paper assesses the extent to which debt overhang poses a constraint to economic activity in Emerging Europe, as the region emerges from the recent financial and economic crisis. At the macroeconomic level, it ...
  • External adjustment and the global crisis 

    The period preceding the global financial crisis was characterized by a substantial widening of current account imbalances across the world. Since the onset of the crisis, these imbalances have contracted to a significant ...
  • The long or short of it: Determinants of foreign currency exposure in external balance sheets 

    LANE, PHILIP RICHARD (Elsevier, 2009)
    A major focus of the recent literature on the determination of optimal portfolios in open-economy macroeconomic models has been on the role of currency movements in determining portfolio returns that may hedge various ...