Feng Zhu

Former Senior Economist

All BIS publications (13)

BIS Working Paper No 1279 8 Jul 2025

Central bank and media sentiment on central bank digital currency: an international perspective

Focus We examine the sentiments of central banks and the media regarding central bank digital currencies across 15 major…

,

and

BIS Working Paper No 805 9 Aug 2019

Exchange rate puzzles: evidence from rigidly fixed nominal exchange rate systems

We examine several major exchange rate puzzles: the excess volatility of real exchange rates; their excess reaction to the real…

and

BIS Working Paper No 797 25 Jul 2019

Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates

We assess the empirical validity of the trilemma or impossible trinity in the 2000s for a large sample of advanced and emerging…

Georgios Georgiadis

and

Publication 23 Sep 2018

Fintech credit markets around the world: size, drivers and policy issues

Fintech credit has grown rapidly around the world in recent years, but its size still varies greatly across economies…

Stijn Claessens

,

,

and

BIS Working Paper No 701 12 Feb 2018

Mapping shadow banking in China: structure and dynamics

We develop a stylised shadow banking map for China with the aim of providing a coherent picture of its structure and the…

,

and

BIS Working Paper No 610 7 Feb 2017

Global impact of US and euro area unconventional monetary policies: a comparison

The paper analyses and compares the domestic and cross-border effects of US and euro area unconventional monetary policy…

,

Marco Jacopo Lombardi

,

and

BIS Working Paper No 567 13 Jun 2016

Understanding the changing equilibrium real interest rates in Asia-Pacific

This paper studies the evolution of the equilibrium real interest rate (ie natural or neutral interest rate) in Asia-Pacific. I…

BIS Working Paper No 494 16 Mar 2015

Financial crisis, US unconventional monetary policy and international spillovers

Abstract of BIS Working Papers No 494 We study the impact of US quantitative easing (QE) on both the emerging and advanced…

,

Andrew J Filardo

,

and

BIS Working Paper No 452 4 Jun 2014

A shadow policy rate to calibrate US monetary policy at the zero lower bound

BIS Working Papers No 452: The recent global financial crisis, the Great Recession and the subsequent implementation of a…

Marco Jacopo Lombardi

and

All external publications (1)

External publication 1 Dec 2018

A shadow policy rate to calibrate US monetary policy at the zero lower bound

and

Marco Jacopo Lombardi

You might also be interested in

Publications

Speeches

Media releases