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 Titles
Nov 2016
No 592

The dollar, bank leverage and the deviation from covered interest parity

by Stefan Avdjiev, Wenxin Du, Catherine Koch and Hyun Song Shin

Nov 2016
No 591

Adding it all up: the macroeconomic impact of Basel III and outstanding reform issues

by Ingo Fender and Ulf Lewrick

Oct 2016
No 590

The failure of covered interest parity: FX hedging demand and costly balance sheets

by Vladyslav Sushko, Claudio Borio, Robert Neil McCauley and Patrick McGuire

Oct 2016
No 589

International prudential policy spillovers: a global perspective

by Stefan Avdjiev, Catherine Koch, Patrick McGuire and Goetz von Peter

Oct 2016
No 588

Macroprudential policies, the long-term interest rate and the exchange rate

by Philip Turner

Oct 2016
No 587

Globalisation and financial stability risks: is the residency-based approach of the national accounts old-fashioned?

by Bruno Tissot

Sep 2016
No 586

Leverage and risk weighted capital requirements

by Leonardo Gambacorta and Sudipto Karmakar

Sep 2016
No 585

The effects of a central bank's inflation forecasts on private sector forecasts: Recent evidence from Japan

by Masazumi Hattori, Steven Kong, Frank Packer and Toshitaka Sekine

Sep 2016
No 584

Intuitive and reliable estimates of the output gap from a Beveridge-Nelson filter

by Güneş Kamber, James Morley and Benjamin Wong

Sep 2016
No 583

Exchange rate pass-through: What has changed since the crisis?

by Martina Jašová, Richhild Moessner and Előd Takáts

Sep 2016
No 582

Global inflation forecasts

by Jonathan Kearns

Sep 2016
No 581

Near-money premiums, monetary policy, and the integration of money markets: lessons from deregulation

by Mark A Carlson and David C Wheelock

Sep 2016
No 580

Bank capital and dividend externalities

by Viral Acharya, Hanh Le and Hyun Song Shin

Sep 2016
No 579

Regional pull vs global push factors: China and US influence on Asia-Pacific financial markets

by Chang Shu, Dong He, Jinyue Dong and Honglin Wang

Aug 2016
No 578

Asset managers, eurodollars and unconventional monetary policy

by Lawrence L Kreicher and Robert Neil McCauley

Aug 2016
No 577

Are star funds really shining? Cross-trading and performance shifting in mutual fund families

by Alexander Eisele, Tamara Nefedova and Gianpaolo Parise

Aug 2016
No 576

Crises and rescues: liquidity transmission through international banks

by Claudia Buch, Catherine Koch and Michael Koetter

Aug 2016
No 575

Housing collateral and small firm activity in Europe

by Ryan Niladri Banerjee and Kristian S Blickle

Aug 2016
No 574

Low long-term interest rates as a global phenomenon

by Peter Hördahl, Jhuvesh Sobrun and Philip Turner

Jul 2016
No 573

Intraday dynamics of euro area sovereign credit risk contagion

by Lubos Komarek, Kristyna Ters and Jörg Urban

Jul 2016
No 572

Housing prices, mortgage interest rates and the rising share of capital income in the United States

by Gianni La Cava

Jul 2016
No 571

On the transactions costs of quantitative easing

by Francis Breedon and Philip Turner

Jul 2016
No 570

Unconventional monetary policies: a re-appraisal

by Claudio Borio and Anna Zabai

Jul 2016
No 569

Monetary policy, the financial cycle and ultra-low interest rates

by Mikael Juselius, Claudio Borio, Piti Disyatat and Mathias Drehmann

Jun 2016
No 568

Output gaps and policy stabilisation in Latin America: the effect of commodity and capital flow cycles

by Enrique Alberola-Ila, Rocío Gondo, Marco Jacopo Lombardi and Diego Urbina

Jun 2016
No 567

Understanding the changing equilibrium real interest rates in Asia-Pacific

by Feng Zhu

Jun 2016
No 566

Monetary facts revisited

by Pavel Gertler and Boris Hofmann

Jun 2016
No 565

The Collateral Trap

by Frederic Boissay and Russell Cooper

May 2016
No 564

Moore's Law vs. Murphy's Law in the financial system: who's winning?

by Andrew W Lo

May 2016
No 563

Who supplies liquidity, how and when?

by Bruno Biais, Fany Declerck and Sophie Moinas

May 2016
No 562

Expectations and investment

by Nicola Gennaioli, Yueran Ma and Andrei Shleifer

May 2016
No 561

Mobile collateral versus immobile collateral

by Gary Gorton and Tyler Muir

May 2016
No 560

Has the pricing of stocks become more global?

by Ivan Petzev, Andreas Schrimpf and Alexander F. Wagner

Apr 2016
No 559

A comparative analysis of developments in central bank balance sheet composition

by Christiaan Pattipeilohy

Apr 2016
No 558

Why bank capital matters for monetary policy

by Leonardo Gambacorta and Hyun Song Shin

Apr 2016
No 557

How does bank capital affect the supply of mortgages? Evidence from a randomized experiment

by Valentina Michelangeli and Enrico Sette

Apr 2016
No 556

Threat of entry and debt maturity: evidence from airlines

by Gianpaolo Parise

Mar 2016
No 555

The causal effect of house prices on mortgage demand and mortgage supply: evidence from Switzerland

by Christoph Basten and Catherine Koch

Mar 2016
No 554

Can a bank run be stopped? Government guarantees and the run on Continental Illinois

by Mark A Carlson and Jonathan Rose

Mar 2016
No 553

What drives the short-run costs of fiscal consolidation? Evidence from OECD countries

by Ryan Niladri Banerjee and Fabrizio Zampolli