NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Ricardo Correa

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Working Papers

July 2014Liquidity Risk and U.S. Bank Lending at Home and Abroad
with Linda S. Goldberg, Tara Rice: w20285
While the balance sheet structure of U.S. banks influences how they respond to liquidity risks, the mechanisms for the effects on and consequences for lending vary widely across banks. We demonstrate fundamental differences across banks without foreign affiliates versus those with foreign affiliates. Among the nonglobal banks (those without a foreign affiliate), cross-sectional differences in response to liquidity risk depend on the banks’ shares of core deposit funding. By contrast, differences across global banks (those with foreign affiliates) are associated with ex ante liquidity management strategies as reflected in internal borrowing across the global organization. This intra-firm borrowing by banks serves as a shock absorber and affects lending patterns to domestic and foreign cu...
November 2007International Differences in the Adoption and Impact of New Information Technologies and New HR Practices: The Valve-Making Industry in the U.S. and U.K.
with Ann Bartel, Casey Ichniowski, Kathryn Shaw: w13651
This paper compares the impact of new IT-enhanced technology on the efficiency of production in the U.S. and the U.K. for one manufacturing industry, valve manufacturing. There is a long-standing question of whether technological change and organizational changes have the same rates of adoption and impact internationally. We have assembled a unique dataset on plants in one narrowly defined industry -- valve manufacturing -- in both the U.S. and U.K to consider whether plants outside of the U.S. gain as much from IT as U.S. plants. We find that, despite differences in the current and historical patterns of institutions in the U.S. and U.K., both countries exhibit comparable patterns of gains to IT at the plant level. The impact of new IT-enhanced technology on the efficiency of production...

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