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dc.contributor.authorPoutineau, Jean-Christophe*
dc.contributor.authorVermandel, Gauthier*
dc.date.accessioned2016-07-13T13:16:36Z
dc.date.available2016-07-13T13:16:36Z
dc.date.issued2015
dc.identifier.issn0165-1889
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/15630
dc.language.isoenen
dc.subjectBanking globalizationen
dc.subjectMonetary policyen
dc.subjectFinancial acceleratoren
dc.subjectInterbank marketen
dc.subjectEurozoneen
dc.subject.ddc339en
dc.subject.classificationjelF.F4.F41en
dc.subject.classificationjelF.F3.F36en
dc.subject.classificationjelE.E5.E52en
dc.subject.classificationjelE.E4.E44en
dc.subject.classificationjelE.E3.E32en
dc.titleCross-border Banking Flows Spillovers in the Eurozone: Evidence from an Estimated DSGE Modelen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThis paper seeks to evaluate quantitatively how interbank and corporate cross-border flows shape business cycles in a monetary union. Using Bayesian techniques, we estimate a two-country \{DSGE\} model that distinguishes between Eurozone core and peripheral countries and accounts for national heterogeneities and a set of real, nominal and financial frictions. We find evidence of the key role of this cross-border channel as an amplifying mechanism in the diffusion of asymmetric shocks. Our model also reveals that under banking globalization, most national variables and the central bank interest rate are less sensitive to financial shocks while investment and current account imbalances are more sensitive to financial shocks. Finally, a counterfactual analysis shows that cross-border lending has affected the transmission of the recent financial crisis between the two groups of countries.en
dc.relation.isversionofjnlnameJournal of Economic Dynamics & Control
dc.relation.isversionofjnlvol51en
dc.relation.isversionofjnldate2015
dc.relation.isversionofjnlpages378–403en
dc.relation.isversionofdoi10.1016/j.jedc.2014.11.006en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelMacroéconomieen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewednonen
dc.relation.Isversionofjnlpeerreviewednonen
dc.date.updated2016-07-13T09:47:55Z
hal.person.labIds894*
hal.person.labIds163511$$$894*
hal.faultCode{"duplicate-entry":{"halshs-01082798":{"doi":"1.0"}}}


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