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 2015
No 529

A search-based model of the interbank money market and monetary policy implementation

by Morten Linneman Bech and Cyril Monnet

Nov 2015
No 528

External shocks, banks and optimal monetary policy in an open economy

by Yasin Mimir and Enes Sunel

Nov 2015
No 527

Expectations and risk premia at 8:30am: Macroeconomic announcements and the yield curve

by Peter Hördahl, Eli M Remolona and Giorgio Valente

Nov 2015
No 526

Modelling the time-variation in euro area lending spreads

by Boris Blagov, Michael Funke and Richhild Moessner

Oct 2015
No 525

Capital flows and the current account: Taking financing (more) seriously

by Claudio Borio and Piti Disyatat

Oct 2015
No 524

Breaking free of the triple coincidence in international finance

by Stefan Avdjiev, Robert Neil McCauley and Hyun Song Shin

Oct 2015
No 523

The evolution of inflation expectations in Canada and the US

by James Yetman

Oct 2015
No 522

Do banks extract informational rents through collateral?

by Bing Xu, Honglin Wang and Adrian Van Rixtel

Oct 2015
No 521

Does variance risk have two prices? Evidence from the equity and option markets

by Laurent Barras and Aytek Malkhozov

Oct 2015
No 520

Optimal inflation with corporate taxation and financial constraints

by Daria Finocchiaro, Giovanni Lombardo, Caterina Mendicino and Philippe Weil

Oct 2015
No 519

The hunt for duration: not waving but drowning?

by Dietrich Domanski, Hyun Song Shin and Vladyslav Sushko

Oct 2015
No 518

Monetary policy and financial spillovers: losing traction?

by Piti Disyatat and Phurichai Rungcharoenkitkul

Oct 2015
No 517

Leverage on the buy side

by Fernando Avalos, Ramon Moreno and Tania Romero

Oct 2015
No 516

Optimal time-consistent macroprudential policy

by Javier Bianchi and Enrique G Mendoza

Oct 2015
No 515

The impact of CCPs' margin policies on repo markets

by Arianna Miglietta, Cristina Picillo and Mario Pietrunti

Oct 2015
No 514

The influence of monetary policy on bank profitability

by Claudio Borio, Leonardo Gambacorta and Boris Hofmann

Oct 2015
No 513

The determinants of long-term debt issuance by European banks: evidence of two crises

by Adrian Van Rixtel, Luna Romo González and Jing Yang

Oct 2015
No 512

International reserves and gross capital flow dynamics

by Enrique Alberola-Ila, Aitor Erce and José María Serena

Sep 2015
No 511

Higher bank capital requirements and mortgage pricing: evidence from the Countercyclical Capital Buffer (CCB)

by Christoph Basten and Catherine Koch

Aug 2015
No 510

Global dollar credit and carry trades: a firm-level analysis

by Valentina Bruno and Hyun Song Shin

Aug 2015
No 509

Investor redemptions and fund manager sales of emerging market bonds: how are they related?

by Jimmy Shek, Ilhyock Shim and Hyun Song Shin

Aug 2015
No 508

Bond markets and monetary policy dilemmas for the emerging markets

by Jhuvesh Sobrun and Philip Turner

Jul 2015
No 507

Macroeconomic Effects of Banking Sector Losses across Structural Models

by Luca Guerrieri, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto and Jae Sim

Jul 2015
No 506

Macroprudential Policies in a Commodity Exporting Economy

by Andrés González, Franz Hamann and Diego Rodríguez

Jul 2015
No 505

Phases of global liquidity, fundamentals news, and the design of macroprudential policy

by Javier Bianchi and Enrique G Mendoza

Jul 2015
No 504

Credit and macroprudential policy in an emerging economy: a structural model assessment

by Horacio A Aguirre and Emilio F Blanco

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