The invisible hand of the government: Moral suasion during the European sovereign debt crisis
Using proprietary data on banks' monthly securities holdings, we show that during the European sovereign debt crisis, domestic banks in fiscally stressed countries were considerably more likely than foreign banks to increase their holdings of domestic sovereign bonds during months when the gove...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2019
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| Online Access: | View Fulltext in Publisher |