Americas Office Publications

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

Displaying 41-50 of 150
Publication BIS Working Paper No 1132 20 Oct 2023
Pandemic-induced increases in container freight rates: assessing their domestic effects in a globalised world
The Covid-19 pandemic severely disrupted the sea transportation industry, leading container freight rates to reach record highs from late 2020 and into 2021. This study examines the welfare effects of this disruption on a specific country, Colombia.
Author: José Pulido
Publication BIS Working Paper No 1133 20 Oct 2023
Remote work and high-proximity employment in Mexico
We show that in Mexico, larger shares of potential remote work at the municipality level are related to lower post-pandemic employment in high proximity consumer services, a large sector that mainly employs low-income workers.
Authors: Lorenzo Aldeco Leo and Alejandrina Salcedo
Publication BIS Working Paper No 1129 16 Oct 2023
Big techs in finance
We explain the business model of big techs and highlight the data-network-activity feedback loop. Building on this framework, we discuss the opportunities and risks arising from big techs' provision of financial services. We also study the role of public…
Authors: Sebastian Doerr, Jon Frost, Leonardo Gambacorta and Vatsala Shreeti
Publication BIS Working Paper No 1118 30 Aug 2023
The origins of monetary policy disagreement: the role of supply and demand shocks
We investigate how dissent in the FOMC is affected by structural macroeconomic shocks obtained using a medium-scale DSGE model. We find that dissent is less (more) frequent when demand (supply) shocks are the predominant source of inflation fluctuations.
Authors: Carlos Madeira, João Madeira and Paulo Santos Monteiro
Publication BIS Working Paper No 1081 08 Mar 2023
What happens to EMEs when US yields go up?
This paper explores why some episodes of US yield increases result in investor retrenchment from emerging markets and others do not.
Authors: Julián Caballero and Christian Upper
Publication BIS Working Paper No 1080 07 Mar 2023
Did interest rate guidance in emerging markets work?
This paper studies the experience of emerging markets with explicit interest rate guidance during 2020-2021. Despite some heterogeneity, interest rate guidance generally provided additional monetary stimulus, as reflected in lower medium-term yields and…
Authors: Julián Caballero and Blaise Gadanecz
Publication BIS Working Paper No 1072 13 Feb 2023
Climate tech 2.0: social efficiency versus private returns
Billions of dollars in private and public capital have poured into climate tech in the United States since 2005. This raises questions around the social efficiency and financial performance of these investments. We find that more private capital is…
Authors: Giulio Cornelli, Jon Frost, Leonardo Gambacorta and Ouarda Merrouche
Publication BIS Working Paper No 1071 30 Jan 2023
Financial access and labor market outcomes: evidence from credit lotteries
We assess the employment and income effects of access to credit dedicated to investment in individual mobility by exploiting time-series variation in access to credit through random lotteries for participants in a group-lending mechanism in Brazil.
Authors: Bernardus F Nazar Van Doornik, Armando Gomes, David Schoenherr and Janis Skrastins
Publication BIS Working Paper No 1065 19 Jan 2023
The Bank of Amsterdam and the limits of fiat money
Central banks can operate with negative equity, and many have done so in history without undermining trust in fiat money. However, there are limits. How negative can central bank equity be before fiat money loses credibility?
Authors: Wilko Bolt, Jon Frost, Hyun Song Shin and Peter Wierts
Publication BIS Working Paper No 1055 06 Dec 2022
The pandemic, cash and retail payment behaviour: insights from the future of payments database
The Covid-19 pandemic has been a shock to retail payment behaviour. How have the changes differed across countries? What do they imply for the future of cash and digital payments? We assemble a new "Future of Payments" database on retail payment behaviour…
Authors: Raphael Auer, Giulio Cornelli and Jon Frost

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