We review research on the effects of banks on the real economy, including, but not limited to
articles in this Special Issue of the Journal of Corporate Finance. We focus primarily on US …

This paper examines the bank productivity growth and integration process for the 28 EU
countries during three main phases of the financial crisis: the US subprime crisis (2007 …

The sovereign debt crisis in the euro area highlighted the close connections between the
financial health of banks and sovereigns and was associated with higher funding costs and …

This paper examines the efficiency of 116 banks for nine new EU members in Central and
Eastern European (CEE) countries over the period 2004–2015. We employ the weight …

This paper explores the sovereign-bank nexus in emerging markets and developing
economies: the interconnectedness between the health of the sovereign and the banking …

We study optimal bailout policies in the presence of banking and sovereign crises. First, we
use European data to document that asset guarantees are the most prevalent way in which …

Abstract We construct Malmquist Productivity indices for two-stage processes. A two-stage
data envelopment analysis model with an additive efficiency decomposition is used for the …

Since the global financial crisis, the tax treatment of banks has gained interest in academic
and public policy arenas. In this paper, we investigate the stock price reaction of a small …

This paper examines the relationship between sovereign credit ratings and bank stability in
Central America and the Caribbean (CAC). We use data on 177 banks from 24 countries for …

In this paper, we develop a methodology to assess potential losses to the government that
could arise from bank failures. The approach is intended to be simple, parsimonious, and …