Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155677
Authors: 
Noth, Felix
Ossandon Busch, Matias
Year of Publication: 
2017
Series/Report no.: 
IWH Discussion Papers 7/2017
Abstract: 
This paper estimates the effect of a foreign funding shock to banks in Brazil after the collapse of Lehman Brothers in September 2008. Our robust results show that bank-specific shocks to Brazilian parent banks negatively affected lending by their individual branches and trigger real economic consequences in Brazilian municipalities: More affected regions face restrictions in aggregated credit and show weaker labor market performance in the aftermath which documents the transmission mechanism of the global financial crisis to local labor markets in emerging countries. The results represent relevant information for regulators concerned with the real effects of cross-border liquidity shocks.
Subjects: 
financial crisis
international shock transmission
bank lending
labor markets outcomes
JEL: 
E58
G01
G11
G21
Document Type: 
Working Paper

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