Published research from the BIS Representative Office for Asia and the Pacific

Research articles, publications and presentations by BIS staff members of the Representative Office for Asia and the Pacific:

2008

forthcoming: What drives the current account in commodity exporting countries? The cases of Chile and New Zealand

by Juan Pablo Medina, Anella Munro and Claudio Soto

BIS Working Papers, forthcoming

forthcoming: Fiscal-monetary interaction in Indonesia

by Danny Hermawan and Anella Munro

forthcoming

forthcoming: Liquidity in an emerging bond market: the case of corporate bonds in Malaysia

by Eric Chan, Mohd Fairuz Hj Ahmad and Philip Wooldridge

BIS Working Papers, forthcoming

forthcoming: Why Banks Go to Emerging Countries and What is the Impact for the Home Economy?

by Alicia García-Herrero and Daniel Navia Simón

Journal of Financial Decision Making, forthcoming

forthcoming: The Asian crisis: what did local stock markets expect?

by Alicia García-Herrero, Jacob Gyntelberg and Andrea Tesei

forthcoming: How should central banks be designed to achieve financial stability

by Alicia García-Herrero

in Fondo Latinamericano de Reservas (FLAR) Revista 3/2007

forthcoming: Hong Kong and Shanghai: Yesterday, Today and Tomorrow

by Robert McCauley, and Eric Chan in Takatoshi Ito and Andrew Rose

eds., Financial Sector Development in the Pacific Rim, East Asia Seminar on Economics Volume 18 (Chicago: University of Chicago Press), forthcoming

Jan 2008: Managing expectations by words and deeds: monetary policy in Asia and the Pacific

by Alicia García-Herrero and Eli M Remolona

BSP-BIS High-Level Conference on Transparency and Communication in Monetary Policy, 1 February, Manila

Jan 2008: The Efficacy of China's Capital Controls – Evidence from Price and Flow Data

by Robert McCauley and Guonan Ma

Pacific Economic Review, Vol 13, no 1, pp 104-23.

Jan 2008: Frequency of Observation and the Estimation of Integrated Volatility in Deep and Liquid Financial Markets

by Alain Chaboud, Benjamin Chiquoine, Erik Hjalmarsson and Mico Loretan

International Finance Discussion Paper

Jan 2008

Housing finance agencies in Asia

by Michael Davies, Jacob Gyntelberg and Eric Chan

BIS Working Papers no 241, January 2008

2006-2007

Dec 2007: Risk in carry trades: a look at target currencies in Asia and the Pacific

by Jacob Gyntelberg and Eli M Remolona

BIS Quarterly Review December 2007, pp 73-82

Dec 2007: International diversification gains and home bias in banking

by Alicia García-Herrero and Francisco Vazquez

IMF Working Papers WP/07/281

Dec 2007: Distress selling and asset market feedback

by Ilhyock Shim and Goetz von Peter

Financial Markets, Institutions & Instruments, Vol 16, Issue 5, pp 243-91. Also available as BIS Working Papers no 229

Dec 2007: What can (macro-)prudential policy do to support monetary policy?

by Claudio Borio and Ilhyock Shim

BIS Working Papers no 242.

Nov 2007: Building an Integrated Capital Market in East Asia

by Robert McCauley

ADB Institute Discussion Paper No 83

Nov 2007: Developing Asia Pacific non-government fixed income markets

by Jacob Gyntelberg

in State Bank of Pakistan's Research Bulletin

Sep 2007: To Dollarize or to De-dollarize: Consequences for Monetary Policy

by Patricia Alvarez-Plata and Alicia García-Herrero

ADB Volume on Monetary and Exchange Rate policies in ASEAN Small Open Economies, forthcoming

Sep 2007: Global and regional financial integration: progress in emerging countries

by Alicia García-Herrero and Philip Wooldridge

BIS Quarterly Review, September 2007, p 57

Aug 2007: Do China's capital controls still bind? Implications for monetary autonomy and capital liberalisation

by Guonan Ma and Robert McCauley

BIS Working Papers no 233

Jul 2007: How effective are China's capital controls?

by Guonan Ma and Robert McCauley, in Ross Garnaut and Ligang Song

eds, China: Linking markets for growth (Canberra: Australian National University E Press, Asia Pacific Press and Social Sciences Academic Press (China), 2007), pp 267-289

Jul 2007: Finance for growth: does a balanced financial structure matter?

by Lucia Cuadro-Saez and Alicia García-Herrero

Kiel Advanced Studies Working Papers no 445

Jul 2007: Do trade and financial links foster business cycle synchronization in a small economy?

by Alicia García-Herrero and Juan M. Ruiz

Business Fluctuations and Cycles by Nova Publishers

2007: The mix of international banks' foreign claims: determinants and implications

by Alicia García-Herrero and Maria Soledad MartinezPeria

Journal of Banking and Finance, Vol 31 issue 6, pp 1613-31

2007: Assessing the Benefits and Costs of Official Foreign Exchange Reserves

by Robert McCauley

in Age Bakker and Ingmar van Herpt, eds., Central bank reserve management: New trends, from liquidity to return, (Cheltenham: Edward Elgar, 2007), pp 19-36

Jun 2007: Assessing the benefits and costs of official foreign exchange reserves

by Robert N McCauley

in Central bank reserve management: New trends, from liquidity to return, edited by Age Bakker and Ingmar van Herpt

Jun 2007: Information flows during the Asian crisis: evidence from closed-end funds

by Ben Cohen and Eli M Remolona

Journal of International Money and Finance, forthcoming

Jun 2007: The Laffer curve of macroeconomic volatility and growth: Can it be explained by the different nature of crises?

by Alicia García-Herrero and Josep Vilarrubia

Money Affairs, Vol XX, Number 1, January-June 2007

Jun 2007: Recent episodes of credit card distress in Asia

by Tae Soo Kang and Guonan Ma

BIS Quarterly Review, pp 55-68

Mar 2007: The evolving instrument composition of official holdings of US dollars

by Robert McCauley

BIS Quarterly Review December 2007, pp 27-28

Mar 2007: Exchange rates and global volatility: implications for Asia-Pacific currencies

by Robert McCauey, John Cairns and Corrinne Ho

BIS Quarterly Review March 2007, pp 41-52

To be anthologised in Exchange Rate Volatility: Mechanism and Implications (Hyderabad: ICFAI [Institute of Chartered Financial Analysts of India] University Press, forthcoming in 2008)

Mar 2007: Exchange rates and global volatility: implications for Aisa-Pacific currencies

by John Cairns, Corrinne Ho and Robert N McCauley

BIS Quarterly Review March 2007, pp 41-52

Mar 2007: Interpreting sovereign spreads

by Eli M Remolona, Michela Scatigna and Eliza Wu

BIS Quarterly Review

Mar 2007: Emerging Countries' Sovereign Risk: Balance Sheets, Contagion and Risk Aversion

by Alicia García-Herrero

in Fondo Latinamericano de Reservas (FLAR) Revista 3/2007

Mar 2007: Can the Chinese trade surplus be reduced through exchange rate policy?

by Alicia García-Herrero and Tuuli Koivu

BOFIT Discussion Papers, 6/2007.

Mar 2007: Emerging countries' sovereign risk: balance sheets, contagion and risk aversion

by Alicia García-Herrero

FLAR Revista, vol 3

Feb 2007: Who pays China's bank restructuring bill

by Guonan Ma

Asian Economic Papers, Winter 2007, 6(1), pp 46-71

Jan 2007: The mix of international banks' foreign claims: Determinants and implications

by Alicia Garcia Herrero and Maria Soledad Martinez Peria

forthcoming in the Journal of Banking and Finance

Jan 2007: Do Asian investors rebalance their portfolios and what are the consequences?

by Alicia Garcia Herrero and Akiko Terada-Hagiwara

Journal of Asian Economies, 18 (2007), pp 195-216

Dec 2006: Internationalising a currency: the case of the Australian dollar

by Robert N McCauley

BIS Quarterly Review

Dec 2006: Understanding monetary policy in Malaysia and Thailand: objectives, instruments and independence

by Robert N McCauley

BIS Papers no 31

Dec 2006: Leveraged loans and Asian financial integration: the case of casino financing

by Robert McCauley and Blaise Gadanecz

box within BIS Quarterly Review, December 2006, p 21

Dec 2006: The structure of housing finance markets and house prices in Asia

by Haibin Zhu

BIS Quarterly Review

Dec 2006: The pricing of sovereign risk in emerging markets: fundamentals and risk aversion

by Eli M Remolona, Michela Scatigna and Eliza Wu

paper presented at the Bangko Sentral ng Pilipinas, Manila (November), and the Bank of Thailand, Bangkok (December)

Dec 2006: Corporate credit guarantees in Asia

by Illhyock Shim

BIS Quarterly Review

Nov 2006: Learning by doing in market reform: lessons from a regional bond fund

by Eli M Remolona and Guonan Ma

in HWWI (Hamburgisches WeltWirtschafts Institute) Research Papers no 2-6: International Trade and Development

Nov 2006: Developing the bond market(s) of East Asia: global, regional or domestic?

by Robert N McCauley and Yung-Chul Park

BIS Papers no 30

Nov 2006: Consolidating the public debt markets of Asia

by Robert N McCauley

BIS Papers no 30

Oct 2006: The euro as a reserve currency: a challenge to the pre-eminence of the US dollar?

by Gabriele Galati and Philip Wooldridge

BIS Working Papers no 218

Oct 2006: Do Asian investors rebalance their portfolios and what are the consequences?

by Alicia García-Herrero and Akiko Terada-Hagiwara

Journal of Asian Economies, 18 (2007), pp 195-216

Sep 2006: Core versus headline inflation targeting in Thailand

by Robert N McCauley

in Bank of Thailand International Symposium: Challenges to inflation targeting in emerging countries, Bank of Thailand, pp 174-228

Sep 2006: Structured finance in Asia and the Pacific: liquidity versus credit risk

by Eli M Remolona and Jacob Gyntelberg

in Banking Today

Sep 2006: Forward currency markets in Asia: lessons from the Australian experience

by Jacob Gyntelberg, Guy Debelle, Michael Plumb

BIS Quarterly Review

Sep 2006: Cross-border banking in Asia: Basel II and other prudential issues

by Stefan Hohl, Patrick McGuire and Eli M Remolona

in Cross-Border Baking: Regulatory Challenges, edited by Gerard Caprio, Jr, Douglas Evanoff and George Kaufman

Oct 2006: Learning by doing in market reform: lessons from a regional bond fund

by Guonan Ma and Eli M. Remolona

in HWWI (Hamburgisches WeltWirtschafts Institut) Research Papers: International Trade and Development , November 2006.

Oct 2006: Estimation of Asian effective exchange rates: a technical note

by San Sau Fung, Marc Klau, Guonan Ma and Robert N. McCauley

BIS Working Papers No 217

Sep 2006: China's Banking Reform: An Assessment of its Evolution and Possible Impact

by Alicia García-Herrero, Sergio Gavilá and Daniel Santabárbara

The paper has been published in CESifo Economic Studies, Vol 52, Number 2, June 2006.

Aug 2006: Who foots China's bank restructuring bill

by Guonan Ma

in The Turning Point in China's Economic Development edited by Ross Garnaut and Ligang Song, the Australian National University Press, Canberra, August 2006.

Jun 2006: Securitisation in Asia and the Pacific: implications for liquidity and credit risks

BIS Quarterly Review, June 2006 (pp. 65-75)

by Jacob Gyntelberg and Eli M Remolona

May 2006: Sharing China's bank restructuring bill

by Guonan Ma

in China and World Economy, Vol 14, No 3 (pp. 19-37)

Mar 2006: Cross-border banking in Asia: Basel 2 and other prudential issues

by Stefan Hohl, Patrick McGuire and Eli Remolona

Mar 2006: Basket weaving: the euromarket experience with basket currency bonds

BIS Quarterly Review, March 2006 (pp. 79-92)

by Clifford R Dammers and Robert N McCauley

Presented at The euro: Lessons for European and Asian financial markets , organised by the European Commission - Directorate General for Economic and Financial Affairs, Hong Kong, 24 February 2006

Feb 2006: Myth and reality of discriminatory power for rating systems

by Stefan Blochwitz, Alfred Hamerle, Stefan Hohl, Robert Rauhmeier and Daniel Rösch in Wilmott Magazine , January 2005, pp. 2-6

Feb 2006: Who pays China's bank restructuring bill?

by Guonan Ma

CEPII Working Paper, No. 2006-04

Feb 2006: Developing corporate bond markets in Asia

BIS Papers no 26, February 2006

Feb 2006

Developing corporate bond markets in Asia: a synopsis of the Kunming discussions

by Guonan Ma, Eli Remolona and He Jianxiong

BIS Papers no 26, February 2006 (pp. 1-6)

2004-2005

Dec 2005: Corporate bond markets in Asia

BIS Quarterly Review, December 2005 (pp. 83-93)

by Jacob Gyntelberg, Guonan Ma and Eli M Remolona

Nov 2005: Understanding monetary policy in Malaysia and Thailand: Objectives, instruments and independence

by Robert N McCauley

at the HKIMR and BIS Conference on Monetary Policy Approaches and Implementation in Asia , 21-22 November 2005

Sep 2005: Official Reserves and Currency Management in Asia: Myth, Reality and the Future

by Hans Genberg, Robert McCauley, Yung Chul Park and Avinash Persaud

7th Geneva Reports on the World Economy, ICMB and CEPR, September 2005

Sep 2005: Managing the renminbi regime shift

BIS Quarterly Review, September 2005 (pp.7-8)

by Guonan Ma, Corrinne Ho, Robert McCauley and Eli Remolona

Sep 2005: Distinguishing global dollar reserves from official holdings in the United States

BIS Quarterly Review, September 2005 (pp.57-72)

by Robert McCauley

Jul 2005: Reconsidering ratings

by Stefan Blochwitz, Stefan Hohl and Carsten S. Wehn

in Wilmott Magazine , May 2005

Jun 2005: Opening markets through a regional bond fund: lessons from ABF2

BIS Quarterly Review, June 2005 (pp. 81-92)

by Guonan Ma and Eli M Remolona

Mar 2005: Trading Asian currencies

BIS Quarterly Review, March 2005 (pp. 49-58)

by Corrinne Ho, Guonan Ma and Robert N McCauley

Mar 2005: Resisting exchange rate appreciation and accumulating reserves: what are the consequences for the domestic financial system?

by Corrinne Ho and Robert N. McCauley

Paper presented to the Korea Institute of Finance seminar, 6 January 2005.

Jan 2005: The Future of Banking in East Asia

John Hobson and Robert N. McCauley

for the project "Verso un systema bancario e finanziario europeo?" Now published in Marcello de Cecco and Giangiacomo Nardozzi, eds., Banche e finanza nel futuro: Europa, Stati Uniti, Asia (Rome: Bancaria Editrice, 2006), pp 95-138.

Dec 2004: Financial Interdependence and Exchange Rate Regimes in East Asia - Effectiveness of China's capital controls: some empirical evidence

by Guonan Ma and Robert N McCauley

in Mashahiro Kawai (ed), Conference Proceedings, Policy Research Institute, Ministry of Finance, Japan.

Dec 2004: Maitrîser la croissance en Chine dans un contexte de mobilité internationale des capitaux" ["Reining in China's growth in a world of increased capital flows"]

by Guonan Ma and Robert N. McCauley

Revue d'économie financière, no 77, special issue, Le devenir financier de la Chine [The financial future of China], Patrick Artus and Françoise Lemaine eds. (2004), pp. 763-785.

Nov 2004: Comments on on Ito's "Inflation Targeting and Japan"

by Robert N. McCauley

in Christopher Kent and Simon Guttman, eds., The Future of Inflation Targeting (Sydney: Reserve Bank of Australia, 2004), pp. 268-271.

Sep 2004: Diversifying with Asian local currency bonds

BIS Quarterly Review, September 2004 (pp. 51-66)

by Robert N. McCauley and Guorong Jiang

Aug 2004: Living with flexible exchange rates

by Corrinne Ho and Robert N. McCauley

abridged version of BIS Working Papers No. 130 in Chinese in International Finance , vol 49, pp. 63-94

Jun 2004: The Markets for non-deliverable forwards in Asian currencies

by Guonan Ma, Corrinne Ho and Robert N. McCauley

Summary Chinese translation in China Money [administered by the People's Bank of China], No 38, December 2004, pp. 4-8

Jun 2004: Asian local currency bond markets

BIS Quarterly Review, June 2004 (pp. 67-79)

by Guorong Jiang and Robert N. McCauley

Jun 2004: Crossborder holdings of Asian bonds: banks and all investors

BIS Quarterly Review, June 2004 (pp. 23-25)

by Robert N. McCauley and Patrick McGuire

Jun 2004: Reining in growth in China

by Guonan Ma and Robert N. McCauley

Paper presented to the Euro 50 2004 Roundtable, "Asia in the international monetary system", Beijing, 24-25 June 2004.

May 2004: Validating default probabilities on short time series

by Stefan Blochwitz, Stefan Hohl, Dirk Tasche and Carsten S Wehn

Working paper published on GloriaMundi , 7 May 2004

Mar 2004: Treasury yields and foreign official holdings of US bonds

BIS Quarterly Review, March 2004 (pp. 11-12)

by Robert N. McCauley and Guorong Jiang

Feb 2004: Building Korea's bond market to serve the region

by Robert N. McCauley

in A New Vision and Strategy under Changing Leadership in Northeast Asia (Seoul: Ministry of Finance and Economy/Korea Development Institute), pp. 70-74.

Feb 2004: Public asset management companies in East Asia

FSI Occasional Paper No 3

by Ben Fung, Jason George, Stefan Hohl and Guonan Ma

Jan 2004

China's FX market: An international perspective

by Guonan Ma

Summary Chinese translation link to an external website in China Money, No 24 [administered by the People's Bank of China]

2002-2003

Dec 2003: Korean and Chinese Finances: Comments on Stallings

by Robert N. McCauley

in Jan Joost Teunissen, China's Role in Asia and the World Economy (Forum on Debt and Development , 2003), pp. 263-272.

Nov 2003: Discussion of Barry Eichengreen and Hui Tong's Stock Market Volatility and Monetary Policy: What the Historical Record Shows

by Robert N. McCauley

in Anthony Richards and Tim Robinson, eds., Asset Prices and Monetary Policy (Sydney: Reserve Bank of Australia, 2003), pp. 143-147.

Jul 2003: Central bank cooperation in East Asia

by Robert N. McCauley

Paper presented to the Pacific Economic Cooperation Council Finance Forum conference, Hua Hin, Thailand, 8-9 July 2003.

Jun 2003: Capital Flows in East Asia since the 1997 Crisis

Quarterly Review, June 2003 (pp. 45-59)

by Robert N. McCauley

Also Appendix 2 in Florian Schmidt, Asia's Credit Markets: from High-Yield to High Grade (Wiley: 2004 )

Apr 2003: China's capital account liberalisation: international perspective

BIS Papers no 15, April 2003

Translation in Chinese published by the SAFE through the Economic Management Publishing House in Beijing, June 2003

Apr 2003: Introduction to "China's capital account liberalisation: international perspective"

BIS Papers no 15, April 2003 (pp. 1-6)

by Guonan Ma and Robert McCauley

Apr 2003: Opening China's capital account amid ample dollar liquidity

BIS Papers no 15, April 2003 (pp. 25-34)

by Guonan Ma and Robert McCauley

Apr 2003: Liberalising the capital account without losing balance: lessons from Korea

BIS Papers no 15, April 2003 (pp. 75-92)

by Yoon Je Cho and Robert N McCauley

Translation in Chinese published by the SAFE through the Economic Management Publishing House in Beijing, June 2003

Mar 2003: Choosing instruments in managing dollar foreign exchange reserves

BIS Quarterly Review, March 2003 (pp. 39-46)

by Robert N. McCauley and Ben Fung

Reprinted in Foreign Exchange Reserves: Concepts and Cases, Chapter 8 (Hyderabad, India: ICFAI University Press, 2004 )

Feb 2003: Validation of banks' internal rating systems

by Stefan Blochwitz and Stefan Hohl

on GloriaMundi , 1 February 2003

Dec 2002: Integrating the finances of East Asia

BIS Quarterly Review, December 2002 (pp. 83-95)

by Robert N. McCauley, San-Sau Fung, and Blaise Gadanecz

Also Appendix 1 in Florian Schmidt, Asia's Credit Markets: from High-Yield to High Grade (Wiley: 2004 )

Sep 2002: Rising foreign currency liquidity of banks in China

BIS Quarterly Review, September 2002 (pp. 67-74 )

by Guonan Ma and Robert N McCauley

Aug 2002: International Market Implications of Declining Treasury Debt

Journal of Money, Credit and Banking

by Robert N. McCauley

vol. 34, no. 3, part 2 (August 2002), pp. 952-966

Aug 2002: China's asset management corporations

BIS Working Papers No. 115

by Guonan Ma and Ben Fung

Jun 2002: Following Chinese banks' foreign currency liquidity

BIS Quarterly Review, June 2002 (pp. 18-19)

by Guonan Ma and Robert N McCauley

Mar 2002

Globalising international banking

BIS Quarterly Review, March 2002 (pp. 41-51)

by Robert N McCauley, Judith S Ruud and Philip D Wooldridge

2000-2001

Dec 2001: Comparing Monetary Policy Operating Procedures in Indonesia, Korea, Malaysia and Thailand

by Claudio E.V. Borio and Robert N McCauley

in Financial Markets and Policies in East Asia, Gordon de Brouwer, ed. (London: Routledge, 2001), pp. 253-285.

Oct 2001 (Mar 2002): Setting Monetary Policy in East Asia: Goals, Developments and Institutions

by Robert N McCauley

in Future Directions for Monetary Policies in East Asia (Sydney: Reserve Bank of Australia, 2001), pp. 7-55. Also published as SEACEN Centre Occasional Paper , no 33, 2002.

Sep 2001: Analysing the growth of Taiwanese deposits in foreign currency

BIS Quarterly Review, September 2001 (pp, 49-56)

by Ben Fung and Robert N McCauley

Translated into Chinese and published in Central Deposit Insurance Corporation, Quarterly Review , June 2002, pp. 95-104.

Apr 2001: Comments on "Order Flow and Exchange Rate Dynamics" by Martin Evans and Richard Lyons

by Robert N McCauley

in Market Liquidity, BIS Papers no 2, April 2001 (pp. 194-197).

Mar 2001: Benchmark Tipping in the Money and Bond Markets

BIS Quarterly Review, March 2001 (pp. 39-45)

by Robert N McCauley

Mar 2001: How active are central banks in managing their US dollar reserve portfolios?

BIS Quarterly Review, March 2001 (pp. 31-32)

by Ben Fung and Robert N McCauley

Nov 2000: Size and liquidity of government bond markets

BIS Quarterly Review, November 2000 (pp. 52-58)

by Robert N McCauley and Eli Remolona

Nov 2000: Composition of US dollar foreign exchange reserves by instrument

BIS Quarterly Review, November 2000 (pp. 59-60)

by Ben Fung and Robert N McCauley

Aug 2000: Foreign currency deposits of firms and individuals with banks in China

BIS Quarterly Review, August 2000 (pp. 35-39)

by Robert N McCauley and Y K Mo

Apr 2000: Prospects for the Exchange Rate of the Euro

by Robert N McCauley

in Michael Artis, Axel Weber, and Elizabeth Hennessy, eds., The Euro: a Challenge and Opportunity for Financial Markets (London: Routledge on behalf of the Société Universitaire Européenne de Recherches Financières, 2000), pp. 350-384.

Mar 2000: Global Capital Markets and Asset Inflation

by Robert N McCauley

SFC Bulletin [journal of the Securities and Futures Commission, Hong Kong Special Administrative Region], no. 39, January-March 2000, 20-38 [in English and Chinese].

Feb 2000

An update on developments in Hong Kong's international banking business

BIS Quarterly Review, February 2000 (pp. 19-20)

by Robert N McCauley and Y K Mo

1998-1999

Dec 1999: Banking on Asia's Recovery

by Robert N McCauley

in Asian Wall Street Journal, December 1, 1999, p. 10.

Dec 1999: Policy and asset inflation

by Robert N McCauley, Judith S Ruud and Frank Iacono

Chapter 10 in Dodging Bullets: Changing US Corporate Capital Structures in the 1980s and 1990s (Cambridge, Massachusetts: MIT Press, 1999).

Jun 1999: Recent developments in the international banking business of Hong Kong

BIS Quarterly Review, June 1999 (pp. 13-14)

by Robert N McCauley and Y K Mo

May 1999: The Euro and the Liquidity of European Fixed Income Markets

by Robert N McCauley

in Market Liquidity: Research Findings and Selected Policy Implications, Report of a Study Group established by the Committee on the Global Financial System of the central banks of the Group of Ten countries (Basel: BIS, May 1999), 28 pages.

Jan 1999: The Euro and the Dollar, 1998

by Robert N McCauley

Open Economies Review, vol. 10, no. 1, January 1999 pp. 91-133.

Nov 1998: The yen/dollar exchange rate and fluctuations in Asia-Pacific currencies

BIS Quarterly Review, November 1998 (pp. 13-15)

by Gabriele Galati and Robert N McCauley

1998: El euro y los mercados europeos de renta fija

by Robert N McCauley

in Enrique Vidal-Ribas, editor, El impacto del euro en los mercados financieros, Caja de ahorros y pensiones de Barcelona, Colección estudios e informes, no. 14 (Barcelona: Caja de ahorros y pensiones, 1998), pp. 73-115. (version in Catalan available)

Representative offices

Published research from the BIS Representative Office for Asia and the Pacific

2008

2006-2007

2004-2005

Understanding monetary policy in Malaysia and Thailand: Objectives, instruments and independence

Resisting exchange rate appreciation and accumulating reserves: what are the consequences for the domestic financial system?

Financial Interdependence and Exchange Rate Regimes in East Asia - Effectiveness of China's capital controls: some empirical evidence

Maitrîser la croissance en Chine dans un contexte de mobilité internationale des capitaux" ["Reining in China's growth in a world of increased capital flows"]

Living with flexible exchange rates

Building Korea's bond market to serve the region

China's FX market: An international perspective

2002-2003

2000-2001

Comparing Monetary Policy Operating Procedures in Indonesia, Korea, Malaysia and Thailand

Comments on "Order Flow and Exchange Rate Dynamics" by Martin Evans and Richard Lyons

Prospects for the Exchange Rate of the Euro

Global Capital Markets and Asset Inflation

1998-1999

Banking on Asia's Recovery

Policy and asset inflation

The Euro and the Dollar, 1998

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