What's new

Research
22 Oct

The impact of liquidity regulation on banks (Working Paper)

To the best of our knowledge, this is the first study to estimate the effect of liquidity regulation on bank balance sheets. It takes advantage of the fact that not all banks were made subject to tighter liquidity regulation by the UK Financial Services Authority (FSA) in 2010. Under this new regulation a ...

21 Oct

When firms and industries matter: understanding the sources of productivity growth (Working Paper)

This paper presents a framework to assess the relative importance of three key sources of productivity growth that research on international trade focuses on ...

08 Oct

The redistributive effects of financial deregulation: wall street versus main street

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation at center stage. We develop a formal model in which the financial sector ...

08 Oct

Managing Default Risk

High sovereign debt in advanced economies has recently revived the debate about the role of coordination problems and self-fulfilling beliefs as drivers of sovereign default risk. I show how default risk can be decomposed in a solvency-risk component and a coordination-risk component. I then study how fiscal policy can be effective in ...

06 Oct

Benchmark tipping in the global bond market (Working Paper)

We analyse the turnover of fixed income derivatives in seven currencies to test the hypothesis that market participants increasingly use contracts based on private rather than government rates to hedge and to take positions. In the US dollar money market ...

 25 Sep

Developing an underlying inflation gauge for China (Working Paper)

The headline consumer price inflation (CPI) is often considered too noisy, narrowly defined, and/or slowly available for policymaking. On the other hand, traditional core inflation measures may ...

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Speeches
Central bankers' speeches
24 Oct
23 Oct
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BIS Management speeches
12 Sep

by Hervé Hannoun: Opening remarks - Seventh Irving Fisher Committee Conference on Central Bank Statistics

The focus of today's conference is particularly apt: "Indicators to support Monetary and Financial Stability Analysis: Data Sources and Statistical Methodologies"...

13 Aug

by Claudio Borio: Macroprudential frameworks: (too) great expectations?

Macroprudential frameworks are a welcome response to the Great Financial Crisis. As long argued by the BIS, a stronger systemic orientation is essential if financial stability is to be assured...

29 Jun

by Jaime Caruana: General Manager's speech: Stepping out of the shadow of the crisis: three transitions for the world economy

This year's Annual Report offers our views on current challenges and aims to examine policies that might help us step out of the long shadow of the crisis. Our approach...

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06 Jun

by Jaime Caruana: Redesigning the central bank for financial stability responsibilities

Central banks are being redesigned to better deal with their financial stability responsibilities - in just five years, over 60 central banks' laws have been changed...

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