We employ simple aggregation strategy: systemic indicator is de�ned as weighted
average...dynamics is well approximated (in MSE sense,
see R2 statistics in Appendix A.4) by...
The reason is very simple and is the fact that, contrary to the threat to existing...requires substantial investments and involves a lengthy authorisation
process,...
profits abroad.
2 Country-level estimates
We start our analysis by showing simple...that these countries have.
5
In Table 1, we quantify these results using a...
