NATIONAL BUREAU OF ECONOMIC RESEARCH
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What are the Consequences of Global Banking for the International Transmission of Shocks? A Quantitative Analysis

José L. Fillat, Stefania Garetto, Arthur V. Smith

NBER Working Paper No. 25203
Issued in October 2018

---- Acknowledgments ----

We are grateful to Andrew Bernard, Nicola Cetorelli, Jean-Edouard Colliard, Enrique Martinez-Garcia, Linda Goldberg, Victoria Ivashina, Andrei Levchenko, Friederike Niepmann, Joe Peek, Katheryn Russ, Jeremy Stein, and seminar participants at many institutions for helpful comments. We also thank Martin Goetz for invaluable input at the initial stages of this project. Andrew Barton, Kovid Puria, and Marco Sammon provided excellent research assistance. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Boston, the Federal Reserve System, or the National Bureau of Economic Research.

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