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
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

Mar 2016
No 552

Fiscal sustainability and the financial cycle

by Claudio Borio, Marco Jacopo Lombardi and Fabrizio Zampolli

Mar 2016
No 551

When the walk is not random: commodity prices and exchange rates

by Emanuel Kohlscheen, Fernando Avalos and Andreas Schrimpf

Mar 2016
No 550

A new dimension to currency mismatches in the emerging markets - non-financial companies

by Michael Chui, Emese Kuruc and Philip Turner

Mar 2016
No 549

Monetary policy spillovers and currency networks in cross-border bank lending

by Stefan Avdjiev and Előd Takáts

Mar 2016
No 548

Moving in tandem: bank provisioning in emerging market economies

by Andrés Murcia Pabón and Emanuel Kohlscheen

Mar 2016
No 547

When pegging ties your hands

by Nikola Tarashev and Anna Zabai

Mar 2016
No 546

Financial intermediation and monetary policy transmission in EMEs: What has changed post-2008 crisis?

by Madhusudan Mohanty and Kumar Rishabh

Feb 2016
No 545

Booms and banking crises

by Frederic Boissay, Fabrice Collard and Frank Smets

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