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
Jul 2015
No 503

Inflation targeting and financial stability: providing policymakers with relevant information

by Anders Vredin

Jun 2015
No 502

Comparative assessment of macroprudential policies

by Valentina Bruno, Ilhyock Shim and Hyun Song Shin

May 2015
No 501

Leverage dynamics and the real burden of debt

by Mikael Juselius and Mathias Drehmann

Apr 2015
No 500

Prolonged reserves accumulation, credit booms, asset prices and monetary policy in Asia

by Andrew Filardo and Pierre Siklos

Mar 2015
No 499

Foreign exchange intervention: strategies and effectiveness

by Nuttathum Chutasripanich and James Yetman

Mar 2015
No 498

Liquidity Squeeze, Abundant Funding and Macroeconomic Volatility

by Enisse Kharroubi

Mar 2015
No 497

Global Asset Allocation Shifts

by Tim A Kroencke, Maik Schmeling and Andreas Schrimpf

Mar 2015
No 496

When is macroprudential policy effective?

by Chris McDonald

Mar 2015
No 495

The transmission of monetary policy in EMEs in a changing financial environment: a longitudinal analysis

by Emanuel Kohlscheen and Ken Miyajima

Mar 2015
No 494

Financial crisis, US unconventional monetary policy and international spillovers

by Qianying Chen, Andrew Filardo, Dong He and Feng Zhu

Mar 2015
No 493

Why do we need both liquidity regulations and a lender of last resort? A perspective from Federal Reserve lending during the 2007-09 US financial crisis

by Mark A Carlson, Burcu Duygan-Bump and William Nelson

Feb 2015
No 492

Assessing the CNH-CNY pricing differential: role of fundamentals, contagion and policy

by Michael Funke, Chang Shu, Xiaoqiang Cheng and Sercan Eraslan

Feb 2015
No 491

A dynamic network model of the unsecured interbank lending market

by Francisco Blasques, Falk Bräuning and Iman van Lelyveld

Feb 2015
No 490

Why does financial sector growth crowd out real economic growth?

by Stephen G Cecchetti and Enisse Kharroubi

Feb 2015
No 489

Liquidity and growth: the role of counter-cyclical interest rates

by Philippe Aghion, Emmanuel Farhi and Enisse Kharroubi

Feb 2015
No 488

Bank competition and credit booms

by Phurichai Rungcharoenkitkul

Feb 2015
No 487

The biofuel connection: impact of US regulation on oil and food prices

by Fernando Avalos and Marco Jacopo Lombardi

Feb 2015
No 486

Why did bank lending rates diverge from policy rates after the financial crisis?

by Anamaria Illes, Marco Jacopo Lombardi and Paul Mizen

Feb 2015
No 485

Can demography affect inflation and monetary policy?

by Mikael Juselius and Előd Takáts

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 Niladri 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 Niladri 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