Working Papers - last 12 months

BIS Working Papers are written by economists from the BIS and, occasionally, from central banks or academic institutions. Some of these papers have been presented at BIS meetings or at events organised by other organisations. The views expressed in them are those of the authors and not necessarily those of the BIS.

Date	Publications
Dec 2012 No 401	Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets by Paul Mizen, Frank Packer, Eli M Remolona and Serafeim Tsoukas
Dec 2012 No 400	Capital Flows and the Risk-Taking Channel of Monetary Policy by Valentina Bruno and Hyun Song Shin
Dec 2012 No 399	Global safe assets by Pierre-Olivier Gourinchas and Olivier Jeanne
Dec 2012 No 398	The great leveraging by Alan M. Taylor
Dec 2012 No 397	Financial Globalisation and the Crisis by Philip R. Lane
Dec 2012 No 396	Systematic monetary policy and the forward premium puzzle by Demosthenes N. Tambakis and Nikola Tarashev
Dec 2012 No 395	The financial cycle and macroeconomics: What have we learnt? by Claudio Borio
Dec 2012 No 394	Unmitigated disasters? New evidence on the macroeconomic cost of natural catastrophes by Goetz von Peter, Sebastian von Dahlen and Sweta C Saxena
Dec 2012 No 393	Interpreting TARGET2 balances by Stephen G Cecchetti, Robert N McCauley and Patrick McGuire
Nov 2012 No 392	Liquidity in Government versus Covered Bond Markets by Jens Dick-Nielsen, Jacob Gyntelberg and Thomas Sangill
Nov 2012 No 391	Emerging market local currency bonds: diversification and stability by Ken Miyajima, Madhusudan Mohanty and Tracy Chan
Nov 2012 No 390	The liquidity consequences of the euro area sovereign debt crisis by William A Allen and Richhild Moessner
Oct 2012 No 389	Currency intervention and the global portfolio balance effect: Japanese lessons by Petra Gerlach-Kristen, Robert N McCauley and Kazuo Ueda
Sep 2012 No 388	Monetary policy in a downturn: Are financial crises special? by Morten Bech, Leonardo Gambacorta and Enisse Kharroubi
Sep 2012 No 387	Does US GDP stall? by Wai-Yip Alex Ho and James Yetman
Sep 2012 No 386	The Social Value of Policy Signals by Stefan Avdjiev, Patrick McGuire and Nikola Tarashev
Sep 2012 No 385	Ageing, property prices and money demand by Kiyohiko G Nishimura and Előd Takáts
Aug 2012 No 384	The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis by Leonardo Gambacorta, Boris Hofmann and Gert Peersman
Jul 2012 No 383	Public recapitalisations and bank risk: evidence from loan spreads and leverage by Michael Brei and Blaise Gadanecz
Jul 2012 No 382	Risk-on/risk-off, capital flows, leverage and safe assets by Robert N McCauley
Jul 2012 No 381	Reassessing the impact of finance on growth by Stephen G Cecchetti and Enisse Kharroubi
Jun 2012 No 380	Characterising the financial cycle: don't lose sight of the medium term! by Mathias Drehmann, Claudio Borio and Kostas Tsatsaronis
May 2012 No 379	When capital adequacy and interest rate policy are substitutes (and when they are not) by Stephen G Cecchetti and Marion Kohler
Apr 2012 No 378	Ensuring price stability in post-crisis Asia: lessons from the recovery by Andrew Filardo
Apr 2012 No 377	Rapid credit growth and international credit: Challenges for Asia by Stefan Avdjiev, Robert N McCauley and Patrick McGuire
Apr 2012 No 376	Systemic risk in global banking: what can available data tell us and what more data are needed? by Eugenio Cerutti, Stijn Claessens and Patrick McGuire
Apr 2012 No 375	Loan loss provisioning practices of Asian banks by Frank Packer and Haibin Zhu
Mar 2012 No 374	A Comprehensive Look at Financial Volatility Prediction by Economic Variables by Charlotte Christiansen, Maik Schmeling and Andreas Schrimpf
Mar 2012 No 373	Collateral requirements for mandatory central clearing of over-the-counter derivatives by Daniel Heller and Nicholas Vause
Feb 2012 No 372	Inflation Dynamics in the Presence of Informal Labour Markets by Paul Castillo and Carlos Montoro
Feb 2012 No 371	Stochastic Herding in Financial Markets Evidence from Institutional Investor Equity Portfolios by Makoto Nirei, Theodoros Stamatiou and Vladyslav Sushko
Feb 2012 No 370	Credit at times of stress: Latin American lessons from the global financial crisis by Carlos Montoro and Liliana Rojas-Suarez
Jan 2012 No 369	Stress-testing macro stress testing: does it live up to expectations? by Claudio Borio, Mathias Drehmann and Kostas Tsatsaronis