Low for long or turning point?

BIS Papers  |  No 98  | 
11 July 2018

The 16th BIS Annual Conference took place in Lucerne, Switzerland, on 23 June 2017. The event brought together a distinguished group of central bank Governors, leading academics and former public officials to exchange views on the topic "Low for long or turning point?". The papers presented at the conference and the discussants' comments are released as BIS Working Papers.

BIS Papers no 98 contains the opening address by Jaime Caruana (Former General Manager, BIS) and remarks by Alan Blinder (Princeton University) and Philip Lowe (Reserve Bank of Australia).

The global factor in neutral policy rates: some implications for exchange rates, monetary policy, and policy coordination, BIS Working Papers No 732
by Richard Clarida
Comments by Narayana Kocherlakota and Lucrezia Reichlin

A risk-centric model of demand recessions and macroprudential policy, BIS Working Papers No 733
by Ricardo J Caballero and Alp Simsek
Comments by Mohamed A El-Erian and David Laidler

Payments, credit and asset prices, BIS Working Papers No 734
by Monika Piazzesi and Martin Schneider
Comments by Sukudhew Singh