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
Jan 2015
No 484

Bank capital shock propagation via syndicated interconnectedness

by Makoto Nirei, Julián Caballero and Vladyslav Sushko

Jan 2015
No 483

Global dollar credit: links to US monetary policy and leverage

by Robert N McCauley, Patrick McGuire and Vladyslav Sushko

Jan 2015
No 482

Secular stagnation, debt overhang and other rationales for sluggish growth, six years on

by Stephanie Lo and Kenneth Rogoff

Jan 2015
No 481

Credit booms: implications for the public and the private sector

by Tano Santos

Jan 2015
No 480

Trilemmas and trade-offs: living with financial globalisation

by Maurice Obstfeld

Jan 2015
No 479

Understanding the role of debt in the financial system

by Bengt Holmstrom

Dec 2014
No 478

Spillovers of US unconventional monetary policy to Asia: the role of long-term interest rates

by Ken Miyajima, Madhusudan Mohanty and James Yetman

Dec 2014
No 477

Has the transmission of policy rates to lending rates been impaired by the Global Financial Crisis?

by Leonardo Gambacorta, Anamaria Illes and Marco Jacopo Lombardi

Dec 2014
No 476

Financial inclusion and optimal monetary policy

by Aaron Mehrotra and James Yetman

Dec 2014
No 475

SMEs, financial constraints and growth

by Ryan Banerjee

Dec 2014
No 474

Exchange rate risk and local currency sovereign bond yields in emerging markets

by Blaise Gadanecz, Ken Miyajima and Chang Shu

Dec 2014
No 473

Liquidity Risk and the Credit Crunch of 2007-2008: Evidence from Micro-Level Data on Mortgage Loan Applications

by Adonis Antoniades

Dec 2014
No 472

Correlations across Asia-Pacific bond markets and the impact of capital flow measures

by Pornpinun Chantapacdepong and Ilhyock Shim

Nov 2014
No 471

The leverage ratio over the cycle

by Michael Brei and Leonardo Gambacorta

Oct 2014
No 470

The impact of liquidity regulation on banks

by Ryan Banerjee and Hitoshi Mio

Oct 2014
No 469

When firms and industries matter: understanding the sources of productivity growth

by Ulf Lewrick, Lukas Mohler and Rolf Weder

Oct 2014
No 468

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

by Anton Korinek and Jonathan Kreamer

Oct 2014
No 467

Managing Default Risk

by Anna Zabai

Oct 2014
No 466

Benchmark tipping in the global bond market

by Lawrence L Kreicher, Robert N McCauley and Philip Wooldridge

Sep 2014
No 465

Developing an underlying inflation gauge for China

by Marlene Amstad, Ye Huan and Guonan Ma

Sep 2014
No 464

Decaying expectations: what inflation forecasts tell us about the anchoring of inflation expectations

by Aaron Mehrotra and James Yetman

Sep 2014
No 463

Monetary analysis and the global financial cycle: an Asian central bank perspective

by Andrew Filardo, Hans Genberg and Boris Hofmann

Sep 2014
No 462

The effects of intraday foreign exchange market operations in Latin America: results for Chile, Colombia, Mexico and Peru

by Miguel Fuentes, Pablo Pincheira, Juan Manuel Julio, Hernán Rincón, Santiago García-Verdú, Miguel Zerecero, Marco Vega, Erick Lahura and Ramon Moreno

Sep 2014
No 461

A policy model to analyze macroprudential regulations and monetary policy

by Sami Alpanda, Gino Cateau and Césaire Meh

Sep 2014
No 460

Traditional and matter-of-fact financial frictions in a DSGE model for Brazil: the role of macroprudential instruments and monetary policy

by Fabia de Carvalho, Marcos Castro and Sílvio Costa

Sep 2014
No 459

Spillovers, capital flows and prudential regulation in small open economies

by Paul Castillo, Cesar Carrera, Marco Ortiz and Hugo Vega

Sep 2014
No 458

Cross-border banking and global liquidity

by Valentina Bruno and Hyun Song Shin

Sep 2014
No 457

The international monetary and financial system: a capital account historical perspective

by Claudio Borio, Harold James and Hyun Song Shin

Sep 2014
No 456

The international monetary and financial system: its Achilles heel and what to do about it

by Claudio Borio

Aug 2014
No 455

Filling in the Blanks: Network Structure and Interbank Contagion

by Kartik Anand, Ben Craig and Goetz von Peter

Aug 2014
No 454

Understanding the challenges for infrastructure finance

by Torsten Ehlers

Jul 2014
No 453

The FRBNY Staff Underlying Inflation Gauge: UIG

by Marlene Amstad, Simon M Potter and Robert Rich

Jun 2014
No 452

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

by Marco Jacopo Lombardi and Feng Zhu

Jun 2014
No 451

Measuring Economic Slack: A Forecast-Based Approach with Applications to Economies in Asia and the Pacific

by James Morley

Jun 2014
No 450

Globalisation, pass-through and the optimal policy response to exchange rates

by Michael B Devereux and James Yetman

Jun 2014
No 449

Credit Growth, Monetary Policy, and Economic Activity in a Three-Regime TVAR Model

by Stefan Avdjiev and Zheng Zeng

May 2014
No 448

The exit from non-conventional monetary policy: what challenges?

by Philip Turner

Apr 2014
No 447

Trade linkages and the globalisation of inflation in Asia and the Pacific

by Raphael Auer and Aaron Mehrotra

Apr 2014
No 446

One currency, two markets: the renminbi's growing influence in Asia-Pacific

by Chang Shu, Dong He and Xiaoqiang Cheng

Mar 2014
No 445

Foreign exchange intervention and the banking system balance sheet in emerging market economies

by Blaise Gadanecz, Aaron Mehrotra and Madhusudan Mohanty