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
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

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