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Author:Scharfstein, David 

Working Paper
The role of banks in reducing financial distress in Japan

Finance and Economics Discussion Series , Paper 134

Working Paper
Dollar funding and the lending behavior of global banks

A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale dollar funding, while raising more of their euro funding through insured retail deposits, the shock leads to a greater withdrawal of dollar funding. Banks can borrow in euros and swap into dollars to make up for the dollar shortfall, but this may lead to violations of covered interest parity (CIP) when there is limited capital to ...
Finance and Economics Discussion Series , Paper 2012-74

Working Paper
Bank monitoring and investment: evidence from the changing structure of Japanese corporate banking relations

Finance and Economics Discussion Series , Paper 86

Working Paper
Corporate structure, liquidity, and investment: evidence from Japanese industrial groups

Finance and Economics Discussion Series , Paper 82

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