Working Papers - 2017

Date Titles
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

Apr 2017
No 625

Scarcity effects of QE: A transaction-level analysis in the Bund market

by Kathi Schlepper, Heiko Hofer, Ryan Riordan and Andreas Schrimpf

Apr 2017
No 624

Does exchange rate depreciation have contractionary effects on firm-level investment?

by José María Serena Garralda and Ricardo Sousa

Apr 2017
No 623

International inflation spillovers through input linkages

by Raphael Auer, Andrei A Levchenko and Philip Sauré

Mar 2017
No 622

External financing and economic activity in the euro area - why are bank loans special?

by Iñaki Aldasoro and Robert Unger

Mar 2017
No 621

The dynamics of investment projects: evidence from Peru

by Rocío Gondo and Marco Vega

Mar 2017
No 620

Commodity price risk management and fiscal policy in a sovereign default model

by Bernabe Lopez-Martin, Julio Leal and Andre Martinez Fritscher

Mar 2017
No 619

Volatility risk premia and future commodities returns

by José Renato Haas Ornelas and Roberto Baltieri Mauad

Mar 2017
No 618

Business cycles in an oil economy

by Drago Bergholt, Vegard H Larsen and Martin Seneca

Mar 2017
No 617

Oil, equities, and the zero lower bound

by Deepa Datta, Benjamin K Johannsen, Hannah Kwon and Robert J Vigfusson

Mar 2017
No 616

Macro policy responses to natural resource windfalls and the crash in commodity prices

by Frederick van der Ploeg

Mar 2017
No 615

Currency wars or efficient spillovers?

by Anton Korinek

Mar 2017
No 614

Changing business models in international bank funding

by Leonardo Gambacorta, Adrian Van Rixtel and Stefano Schiaffi

Feb 2017
No 613

Risk sharing and real exchange rates: the role of non-tradable sector and trend shocks

by Hüseyin Çağrı Akkoyun, Yavuz Arslan and Mustafa Kılınç

Feb 2017
No 612

Monetary policy and bank lending in a low interest rate environment: diminishing effectiveness?

by Claudio Borio and Leonardo Gambacorta

Feb 2017
No 611

The effects of tax on bank liability structure

by Leonardo Gambacorta, Giacomo Ricotti, Suresh Sundaresan and Zhenyu Wang

Feb 2017
No 610

Global impact of US and euro area unconventional monetary policies: a comparison

by Qianying Chen, Marco Jacopo Lombardi, Alex Ross and Feng Zhu

Feb 2017
No 609

Revisiting the commodity curse: a financial perspective

by Enrique Alberola-Ila and Gianluca Benigno

Jan 2017
No 608

Redemption risk and cash hoarding by asset managers

by Stephen Morris, Ilhyock Shim and Hyun Song Shin

Jan 2017
No 607

The real effects of household debt in the short and long run

by Marco Jacopo Lombardi, Madhusudan Mohanty and Ilhyock Shim

Jan 2017
No 606

Market volatility, monetary policy and the term premium

by Sushanta K Mallick, Madhusudan Mohanty and Fabrizio Zampolli

Jan 2017
No 605

Wage and price setting: new evidence from Uruguayan firms

by Fernando Borraz, Gerardo Licandro and Daniela Sola

Jan 2017
No 604

Endogenous wage indexation and aggregate shocks

by Julio A. Carrillo, Gert Peersman and Joris Wauters

Jan 2017
No 603

Multiplex interbank networks and systemic importance - An application to European data

by Iñaki Aldasoro and Ivan Alves

Jan 2017
No 602

The globalisation of inflation: the growing importance of global value chains

by Raphael Auer, Claudio Borio and Andrew Filardo

Jan 2017
No 601

Asymmetric information and the securitization of SME loans

by Ugo Albertazzi, Margherita Bottero, Leonardo Gambacorta and Steven Ongena