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
Feb 2016
No 544

What drives inflation expectations in Brazil? Public versus private information

by Waldyr D Areosa

Feb 2016
No 543

Fiscal policy and the cycle in Latin America: the role of financing conditions and fiscal rules

by Enrique Alberola-Ila, Iván Kataryniuk, Ángel Melguizo and René Orozco

Feb 2016
No 542

Bank standalone credit ratings

by Michael R King, Steven Ongena and Nikola Tarashev

Jan 2016
No 541

How do global investors differentiate between sovereign risks? The new normal versus the old

by Marlene Amstad, Eli M Remolona and Jimmy Shek

Jan 2016
No 540

Self-oriented monetary policy, global financial markets and excess volatility of international capital flows

by Ryan Niladri Banerjee, Michael B Devereux and Giovanni Lombardo

Jan 2016
No 539

International trade finance and the cost channel of monetary policy in open economies

by Nikhil Patel

Jan 2016
No 538

Sovereign yields and the risk-taking channel of currency appreciation

by Boris Hofmann, Ilhyock Shim and Hyun Song Shin

Jan 2016
No 537

Exchange rates and monetary spillovers

by Guillaume Plantin and Hyun Song Shin

Jan 2016
No 536

Is macroprudential policy instrument blunt?

by Katsurako Sonoda and Nao Sudo

Jan 2016
No 535

Interbank networks in the national banking era: their purpose and their role in the panic of 1893

by Charles W Calomiris and Mark A Carlson

Jan 2016
No 534

Labour reallocation and productivity dynamics: financial causes, real consequences

by Claudio Borio, Enisse Kharroubi, Christian Upper and Fabrizio Zampolli

Dec 2015
No 533

Managing price and financial stability objectives - what can we learn from the Asia-Pacific region?

by Soyoung Kim and Aaron Mehrotra

Dec 2015
No 532

Mortgage risk and the yield curve

by Aytek Malkhozov, Philippe Mueller, Andrea Vedolin and Gyuri Venter

Dec 2015
No 531

The supply side of household finance

by Gabriele Foà, Leonardo Gambacorta, Luigi Guiso and Paolo Emilio Mistrulli

Nov 2015
No 530

Commercial bank failures during The Great Recession: the real (estate) story

by Adonis Antoniades

Nov 2015
No 529

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

by Morten Linnemann 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