Americas Office Publications

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

Displaying 11-20 of 150
Publication BIS Working Paper No 1295 06 Oct 2025
Pricing in fast payments: a practical and theoretical overview
Fast payments are at the forefront of payments digitalisation globally. By enabling immediate availability of funds on a 24/7 basis, they offer the potential to enhance efficiency, promote financial inclusion, drive innovation and foster competition…
Authors: José Aurazo, Holti Banka, Guillermo Galicia, Nilima Ramteke, Vatsala Shreeti and Kiyotaka Tanaka
Publication BIS Working Paper No 1292 26 Sep 2025
Macroeconomic impact of weather disasters: a global and sectoral analysis
Whether and how extreme weather shocks transmit to economic activity and, in turn, inflation is key for monetary policy. We look at the macroeconomic effects of different types of weather disaster for up to 151 countries over 2000-24.
Authors: Torsten Ehlers, Jon Frost, Carlos Madeira and Ilhyock Shim
Publication BIS Working Paper No 1288 05 Sep 2025
The capital puzzle
Can a central bank tighten monetary policy and real interest rates fall under monetary dominance? Introducing endogenous capital into the New Keynesian model allows real interest rates to move in any direction at the impact of a positive persistent…
Author: Eduardo Amaral
Publication BIS Working Paper No 1278 14 Jul 2025
Soybean yield prediction in Argentina using climate data
Agriculture, and especially soybean production, has a critical role in Argentina's economy, as a major contributor to GDP and export revenue. This paper studies the impact of climate variability on soybean yields in Argentina using a novel department…
Authors: Emiliano Basco, Diego Elías, Maximiliano Gómez Aguirre and Luciana Pastore
Publication BIS Working Paper No 1277 11 Jul 2025
Firm-level CO2 emissions and production networks: evidence from administrative data in Chile
This project uses unique Chilean administrative data to shed light on how production networks might play a key role in shaping the macroeconomic impacts of green transition policies. First, using customs and firm-to-firm transaction data that covers the…
Authors: Pablo Acevedo, Elias Albagli, Gonzalo García-Trujillo and María Antonia Yung
Publication BIS Working Paper No 1276 10 Jul 2025
Economic activity, inflation, and monetary policy after extreme weather events: ENSO and its economic impact on the Peruvian economy
This paper studies how El Niño Costero, a large climatic event, generates physical risks disrupting business cycles and hindering the effectiveness of monetary policy. Using Peruvian data, we find consistent empirical evidence that El Niño shocks leave a…
Authors: John Aguirre, Alan Ledesma, Fernando Perez and Youel Rojas
Publication BIS Working Paper No 1275 08 Jul 2025
Decoding climate-related risks in sovereign bond pricing: a global perspective
Climate change poses a significant risk to financial stability by impacting sovereign credit risk. Quantifying the exact impact is difficult as climate risk encompasses different components - transition risk and physical risk - with some of these, as well…
Authors: Sofia Anyfantaki, Marianna Blix Grimaldi, Carlos Madeira, Simona Malovaná and Georgios Papadopoulos
Publication BIS Working Paper No 1258 11 Apr 2025
How accurately do consumers report their debts in household surveys?
This article advances upon previous studies by using a unique match of a representative sample of individual borrowers from the Chilean Household Finance Survey and their banking loan records. I show that surveys differ from the credit registry, not just…
Author: Carlos Madeira
Publication CCA report 10 Apr 2025
Leveraging tokenisation for payments and financial transactions
This report by the Consultative Group on Innovation and the Digital Economy (CGIDE) discusses theoretical and real-world use cases of tokenisation, which include initiatives run by the Central Bank of Brazil and the Central Bank of Colombia, and private…
Publication CCA report 29 Jan 2025
Governance of AI adoption in central banks
Report by the Consultative Group on Risk Management (CGRM) established at the BIS Representative Office for the Americas - Artificial intelligence (AI) presents huge opportunities for central banks.
Innovation and fintech

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