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February 24, 2014

Measuring too-big-to-fail funding advantages from small banks’ CDS spreads

Large banks derive a funding advantage from being too-big-to-fail, while small banks do not.

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January 10, 2014

Government spending shocks, sovereign risk and the exchange rate regime

We analyse the effects of fiscal expansions using a New Keynesian model and find that the reverse holds in the presence of sovereign default risk.

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