BIS publishes global liquidity indicators for Q3 2014

What's new

Research
3 Mar

Enhancing Euro Area Capital Stock Estimates (IFC Working Papers No 13)

Official euro area wide statistics on capital stock and its breakdowns by asset types and sectors are not yet available, but very useful for economic and financial stability analysis. This paper proposes a constrained optimization model with the help of which a full cross-sector classification of capital stock by ...

2 Mar International Journal of Central Banking (IJCB), March 2015 issue
27 Feb

Assessing the CNH-CNY pricing differential: role of fundamentals, contagion and policy (Working Paper)

Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore ...

24 Feb

A dynamic network model of the unsecured interbank lending market (Working Paper)

We introduce a structural dynamic network model of the formation of lending relationships in the unsecured interbank market. Banks are subject to random liquidity shocks and can form links with potential trading partners to ...

12 Feb

Why does financial sector growth crowd out real economic growth? (Working Paper)

In this paper we examine the negative relationship between the rate of growth of the financial sector and the rate of growth of total factor productivity. We begin by showing that by disproportionately benefiting ...

12 Feb

Liquidity and growth: the role of counter-cyclical interest rates (Working Paper)

In this paper, we use cross-industry, cross-country panel data to test whether industry growth is positively affected by the interaction between the reaction of real short-term interest rates to the business cycle and industry-level measures of financial constraints. Financial constraints ...

12 Feb

Bank competition and credit booms (Working Paper)

A model of imperfectly competitive banks is examined under asymmetric information about borrower quality. Greater bank competition and a lower risk-free rate raise the screening costs of lending, which can result in ...

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Speeches
Central bankers' speeches
04 Mar
03 Mar
02 Mar
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BIS Management speeches
25 Feb

by Hyun Song Shin: Toward a joined-up research agenda for central banks

Arriving at an integrated research agenda for central banks entails finding the common elements that runs through the monetary policy and financial stability mandates of the central bank...

25 Feb

by Jaime Caruana: Financial reform and the role of regulators: Evolving markets, evolving risks, evolving regulation

The role of the financial regulator is threefold. First, to complete the reforms to repair the cracks in the system exposed by the global financial crisis. Second, to implement regulations consistently...

18 Feb

by Hyun Song Shin: On book equity: why it matters for monetary policy

The book value of equity plays a central role in discussions of bank capital adequacy. Yet among researchers in empirical corporate finance, it is common to hear...

19 Dec

by Jaime Caruana: Macroprudential policy: opportunities and challenges

Policymakers now have a unique opportunity to build a macroprudential perspective into the post-crisis framework for financial stability. But this also poses new challenges...

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