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
Oct 2017
No 665

Interest rates and house prices in the United States and around the world

by Gregory Sutton, Dubravko Mihaljek and Agnė Subelytė

Oct 2017
No 664

Is the price right? Swing pricing and investor redemptions

by Ulf Lewrick and Jochen Schanz

Oct 2017
No 663

Liquidity risk in markets with trading frictions: What can swing pricing achieve?

by Ulf Lewrick and Jochen Schanz

Sep 2017
No 662

The real effects of relationship lending

by Ryan Niladri Banerjee, Leonardo Gambacorta and Enrico Sette

Aug 2017
No 661

How important is the Global Financial Cycle? Evidence from capital flows

by Eugenio Cerutti, Stijn Claessens and Andrew K Rose

Aug 2017
No 660

Informal one-sided target zone model and the Swiss franc

by Yu-Fu Chen, Michael Funke and Richhild Moessner

Aug 2017
No 659

Effects of capital controls on foreign exchange liquidity

by Carlos Cantú

Aug 2017
No 658

The Distance Effect in Banking and Trade

by Michael Brei and Goetz von Peter

Aug 2017
No 657

Quality Pricing-to-Market

by Raphael Auer, Thomas Chaney and Philip Sauré

Aug 2017
No 656

Demographics will reverse three multi-decade global trends

by Charles Goodhart and Manoj Pradhan

Aug 2017
No 655

The FinTech Opportunity

by Thomas Philippon

Aug 2017
No 654

World changes in inequality: an overview of facts, causes, consequences and policies

by François Bourguignon

Aug 2017
No 653

Dollar pricing redux

by Camila Casas, Federico Díez, Gita Gopinath and Pierre-Olivier Gourinchas

Jul 2017
No 652

The discontinuation of the EUR/CHF minimum exchange rate in January 2015: was it expected?

by Michael Funke, Julius Loermann and Richhild Moessner

Jul 2017
No 651

Segmented money markets and covered interest parity arbitrage

by Dagfinn Rime, Andreas Schrimpf and Olav Syrstad

Jun 2017
No 650

Financial deglobalisation in banking?

by Robert Neil McCauley, Agustín S Bénétrix, Patrick McGuire and Goetz von Peter

Jun 2017
No 649

Monetary policy transmission and trade-offs in the United States: Old and new

by Boris Hofmann and Gert Peersman

Jun 2017
No 648

Credit ratings of domestic and global agencies: What drives the differences in China and how are they priced?

by Xianfeng Jiang and Frank Packer

Jun 2017
No 647

The evolution of inflation expectations in Japan

by Masazumi Hattori and James Yetman

Jun 2017
No 646

Macroprudential policy and bank risk

by Yener Altunbas, Mahir Binici and Leonardo Gambacorta

Jun 2017
No 645

Accounting for debt service: the painful legacy of credit booms

by Mathias Drehmann, Mikael Juselius and Anton Korinek

Jun 2017
No 644

The shifting drivers of global liquidity

by Stefan Avdjiev, Leonardo Gambacorta, Linda Goldberg and Stefano Schiaffi

Jun 2017
No 643

The international dimensions of macroprudential policies

by Pierre-Richard Agénor, Enisse Kharroubi, Leonardo Gambacorta, Giovanni Lombardo and Luiz Awazu Pereira da Silva

Jun 2017
No 642

The effects of monetary policy shocks on inequality in Japan

by Masayuki Inui, Nao Sudo and Tomoaki Yamada

Jun 2017
No 641

China's evolving monetary policy rule: from inflation-accommodating to anti-inflation policy

by Eric Girardin, Sandrine Lunven and Guonan Ma

May 2017
No 640

Understanding the determinants of financial outcomes and choices: the role of noncognitive abilities

by Gianpaolo Parise and Kim Peijnenburg

May 2017
No 639

Supply- and demand-side factors in global banking

by Mary Amiti, Patrick McGuire and David E Weinstein

May 2017
No 638

Assessing fiscal policy through the lens of the financial and the commodity price cycles

by Enrique Alberola-Ila and Ricardo Sousa

May 2017
No 637

Global value chains and effective exchange rates at the country-sector level

by Nikhil Patel, Zhi Wang and Shang-Jin Wei

May 2017
No 636

The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data

by Leonardo Gambacorta and Andrés Murcia Pabón

May 2017
No 635

Prudential policies and their impact on credit in the United States

by Paul Calem, Ricardo Correa and Seung Jung Lee

May 2017
No 634

Evaluating the impact of macroprudential policies on credit growth in Colombia

by Esteban Gómez, Angélica Lizarazo, Juan Carlos Mendoza and Andrés Murcia Pabón

May 2017
No 633

The impact of warnings published in a financial stability report on loan-to value ratios

by Andrés Alegría, Rodrigo Alfaro and Felipe Córdova

May 2017
No 632

The impact of macroprudential housing finance tools in Canada

by Jason Allen, Timothy Grieder, Tom Roberts and Brian Peterson

Apr 2017
No 631

Arbitrage costs and the persistent non-zero CDS-bond basis: Evidence from intraday euro area sovereign debt markets

by Jacob Gyntelberg, Peter Hördahl, Kristyna Ters and Jörg Urban

Apr 2017
No 630

How post-crisis regulation has affected bank CEO compensation

by Vittoria Cerasi, Sebastian M Deininger, Leonardo Gambacorta and Tommaso Oliviero

Apr 2017
No 629

The beneficial aspect of FX volatility for market liquidity

by Jakree Koosakul and Ilhyock Shim

Apr 2017
No 628

Is monetary policy less effective when interest rates are persistently low?

by Claudio Borio and Boris Hofmann

Apr 2017
No 627

External debt composition and domestic credit cycles

by Stefan Avdjiev, Stephan Binder and Ricardo Sousa

Apr 2017
No 626

Monetary policy's rising FX impact in the era of ultra-low rates

by Massimo Ferrari, Jonathan Kearns and Andreas Schrimpf