This paper studies the impact of investor composition on the sovereign debt market. We
construct a data set of sovereign debt holdings by foreign and domestic bank, non-bank …

International Monetary Fund (IMF) staff members use macroprudential stress tests to assess
systemic risk as part of the IMF's mandate to monitor global financial stability. Stress tests …

Cross-border links between banks and non-bank financial institutions (NBFIs) gained
momentum in recent years. Banks' cross-border claims on NBFIs rose from $4.6 trillion in Q1 …

We estimate the distribution of wealth in Italy between 1995 and 2016 using a novel source
of inheritance tax files, combined with surveys and national accounts. We find that the level …

We propose a structural framework for the development of system-wide financial stress tests
with multiple interacting contagion, amplification channels and heterogeneous financial …

International credit can be fickle and subject to sudden stops during periods of global
economic stress. Non-financial corporate borrowers that rely on credit from abroad are …

The Covid–19 outbreak strongly affected the evolution of the bank–sovereign nexus. In
advanced economies, banks played an important role in financing sovereign debt during the …

The claims of international banks held up well during the COVID-19 crisis, although
economic output fell by even more than during the Great Financial Crisis (GFC). Both cross …

The BIS consolidated banking statistics (CBS) are one of the few data sets to provide banks'
consolidated exposures to individual countries. The consolidated perspective shifts the …

This paper provides insights into the determinants of currency choice in cross-border bank
lending, such as bilateral distance, financial and trade linkages to issuer countries of major …