Tola, Albi; Wälti, Sébastien - In: The Quarterly Review of Economics and Finance 55 (2015) C, pp. 108-123
existence of financial contagion during this crisis, defined as the international transmission of country-specific shocks beyond … the normal channels of financial interdependence. Since contagion relates purely to country-specific shocks, we combine … the standard contagion test of Favero and Giavazzi (2002) with a narrative approach to separate out global and euro area …