This paper documents the evolution of international financial integration since the global
financial crisis using an updated dataset on external assets and liabilities, covering 212 …

The paper analyzes the integration of euro area sovereign bond markets during the
European sovereign debt crisis. It tests for contagion (ie, an intensification in the …

This paper studies the market fragmentation condition of energy resource (such as coal,
gasoline, diesel and electricity) prices by using the relative price method and analyzes its …

China's emissions trading pilots constitute an emerging and young commodity market. This
paper compares the greater regional divergences of market rules and explores the impacts …

We study the liquidity allocation among European banks around the Lehman insolvency
using a novel dataset of all interbank loans settled via the Eurosystem's payment system …

We analyze the impact of financial crises and monetary policy on the supply of wholesale
funding liquidity, and also on the compositional supply effects through cross-border and …

The questions of how to mitigate climate change and its impact on human health are
currently high on the Chinese agenda for future development. The emission trading scheme …

We assess the degree of market fragmentation in the euro-area corporate bond market by
disentangling the determinants of the risk premium paid on bonds at origination. By looking …

Using data on Spanish mutual funds, we show that bank-affiliated funds provide funding
support to their parent company via purchases of bonds in the primary market. Support from …

This paper shows how interbank market fragmentation disrupts the transmission of monetary
policy. Fragmentation is the fact that banks, depending on their country of location, have …