Americas Office Publications

Browse through the latest research produced by, or in collaboration with, the Americas Office.

Displaying 21-30 of 153
Publication BIS Paper No 152 18 Dec 2024
Faster digital payments: global and regional perspectives
This volume provides insights and lessons learned from a range of fast payment systems (FPS).
Authors: José Aurazo, Jon Frost and Anneke Kosse
Publication CCA report 17 Dec 2024
A proposal for a retail central bank digital currency (CBDC) architecture
Report by the Consultative Group on Innovation and the Digital Economy (CGIDE) established at the BIS Representative Office for the Americas.
Innovation and fintech
Publication BIS Working Paper No 1217 14 Oct 2024
Global inflation, inflation expectations and central banks in emerging markets
This work studies the impact of global inflation on surveyed inflation expectations of private analysts in emerging market economies (EMEs), and the role central banks can play to lessen this impact. Our study uses quarterly data for 22 EMEs from 2000&…
Authors: Ana Aguilar, Rafael Guerra and Berenice Martinez
Publication BIS Working Paper No 1214 26 Sep 2024
The impact of financial crises on industrial growth: lessons from the last 40 years
This work shows the impact of financial crises across industries and the total manufacturing sector. I find both a direct impact of financial crises on all manufacturing growth and an additional effect through an external finance dependence channel…
Author: Carlos Madeira
Publication BIS Working Paper No 1209 09 Sep 2024
Latin America's non-linear response to pandemic inflation
This paper estimates empirical Taylor rules to analyze the recent monetary policy of the five main Latin American inflation-targeting central banks. We find that during the inflationary surge of 2021–23, monetary policy reacted more strongly and…
Authors: Rafael Guerra, Steven Kamin, John Kearns, Christian Upper and Aatman Vakil
Publication BIS Working Paper No 1206 26 Aug 2024
Covered interest parity: a forecasting approach to estimate the neutral band
The neutral band is the interval where deviations from covered interest parity (CIP) are not considered profitable arbitrage opportunities. After the great financial crisis, deviations from CIP are no longer short-lived, exposing some limitations of the…
Author: Juan R Hernández
Publication BIS Working Paper No 1204 22 Aug 2024
Climate policies, labour markets and macroeconomic outcomes in emerging economies
We study the labor market and macroeconomic effects of a carbon tax in the energy sector in emerging economies. We build a search and matching macro model with pollution externalities from energy production, endogenous green-technology adoption, and…
Authors: Alan Finkelstein Shapiro and Victoria Nuguer
Publication BIS Working Paper No 1196 08 Jul 2024
Digital payments, informality and economic growth
We examine the relationship between digital payment innovation, economic growth and informal activities in 101 economies over 2014–19. Following the economic growth literature, panel regressions relate growth rates of GDP per capita, total factor…
Authors: Ana Aguilar, Jon Frost, Rafael Guerra, Steven Kamin and Alexandre Tombini
Publication BIS Working Paper No 1191 24 May 2024
The impact of macroprudential policies on industrial growth
This paper analyses the causal impact of macroprudential policies on growth, using industry-level data for 89 countries for the period 1990 to 2021.
Author: Carlos Madeira
Publication BIS Working Paper No 1187 14 May 2024
Nothing to hide? Gender and age differences in the willingness to share data
Many digital applications rely on the willingness of users to voluntarily share personal data. Yet some users are more comfortable sharing data than others. To document these differences, we draw on questions to a representative sample of U.S. households…
Authors: Olivier Armantier, Sebastian Doerr, Jon Frost, Andreas Fuster and Kelly Shue

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