deglobalization and market fragmentation. We examine the effects of a deglobalization shock on bank lending, firm internal capital … the response to the Brexit referendum shock. On average, German banks reduced lending to United Kingdom (UK) firms … following the shock due to increased uncertainty about future losses. More prudent banks reduced their credit more extensively …

-financial corporations declines significantly after a restrictive monetary policy shock that is independent of non-monetary information in …

adjustments and an asymmetry in oil shock effects. Supply shocks reduce the probability of fiscal adjustments, while demand shocks …

market hysteresis and commodity price shocks. We find that a commodity price shock typically has an expansionary effect as …