Content
2019
- 785 Effects of a mandatory local currency pricing law on the exchange rate pass-through
by Renzo Castellares & Hiroshi Toma - 784 Import prices and invoice currency: evidence from Chile
by Fernando Giuliano & Emiliano Luttini - 783 Dominant currency debt
by Egemen Eren & Semyon Malamud - 782 How does the interaction of macroprudential and monetary policies affect cross-border bank lending?
by Előd Takáts & Judit Temesvary - 781 New information and inflation expectations among firms
by Serafin Frache & Rodrigo Lluberas - 780 Can regulation on loan-loss-provisions for credit risk affect the mortgage market? Evidence from administrative data in Chile
by Mauricio Calani - 779 BigTech and the changing structure of financial intermediation
by Jon Frost & Leonardo Gambacorta & Yi Huang & Hyun Song Shin & Pablo Zbinden - 778 Does informality facilitate inflation stability?
by Enrique Alberola-Ila & Carlos Urrutia - 777 What anchors for the natural rate of interest?
by Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul - 776 Can an ageing workforce explain low inflation?
by Benoit Mojon & Xavier Ragot - 775 Bond risk premia and the exchange rate
by Boris Hofmann & Ilhyock Shim & Hyun Song Shin - 774 FX intervention and domestic credit: Evidence from high-frequency micro data
by Boris Hofmann & Hyun Song Shin & Mauricio Villamizar-Villegas - 773 From carry trades to trade credit: financial intermediation by non-financial corporations
by Bryan Hardy & Felipe Saffie - 772 On the global Impact of risk-off shocks and policy-put frameworks
by Ricardo Caballero & Güneş Kamber - 771 Macroprudential policy with capital buffers
by Josef Schroth - 770 The expansionary lower bound: contractionary monetary easing and the trilemma
by Paolo Cavallino & Damiano Sandri - 769 Safe assets: made, not just born
by Robert N McCauley - 768 Over-the-counter market liquidity and securities lending
by Nathan Foley-Fisher & Stefan Gissler & Stéphane Verani - 767 Central counterparty capitalization and misaligned incentives
by Wenqian Huang - 766 Risk endogeneity at the lender/investor-of-last-resort
by Diego Caballero & André Lucas & Bernd Schwaab & Xin Zhang - 765 Beyond the doomsday economics of "proof-of-work" in cryptocurrencies
by Raphael Auer - 764 Global Banking, Financial Spillovers, and Macroprudential Policy Coordination
by Pierre-Richard Agénor & Luiz Awazu Pereira da Silva - 763 On money, debt, trust and central banking
by Claudio Borio
2018
- 762 A key currency view of global imbalances
by Robert N McCauley & Hiro Ito - 761 Non-monetary news in central bank communication
by Anna Cieslak & Andreas Schrimpf - 760 Gross capital flows by banks, corporates and sovereigns
by Stefan Avdjiev & Sebnem Kalemli-Ozcan & Luis Servén - 759 Assessing inflation expectations anchoring for heterogeneous agents: analysts, businesses and trade unions
by Ken Miyajima & James Yetman - 758 Foreign currency borrowing, balance sheet shocks and real outcomes
by Bryan Hardy - 757 Explaining Monetary Spillovers: The Matrix Reloaded
by Jonathan Kearns & Andreas Schrimpf & Dora Xia - 756 Financial structure and income inequality
by Michael Brei & Giovanni Ferri & Leonardo Gambacorta - 755 Measuring financial cycle time
by Andrew Filardo & Marco Jacopo Lombardi & Marek Raczko - 754 Euro area unconventional monetary policy and bank resilience
by Fernando Avalos & Emmanuel C Mamatzakis - 753 Currency depreciation and emerging market corporate distress
by Valentina Bruno & Hyun Song Shin - 752 The effects of prudential regulation, financial development and financial openness on economic growth
by Pierre-Richard Agénor & Leonardo Gambacorta & Enisse Kharroubi & Enisse Kharroubi - 751 Exchange rates and prices: evidence from the 2015 Swiss franc appreciation
by Raphael Auer & Ariel Burstein & Sarah M Lein - 750 Forward guidance and heterogeneous beliefs
by Philippe Andrade & Gaetano Gaballo & Eric Mengus & Benoit Mojon - 749 Whatever it takes. What's the impact of a major nonconventional monetary policy intervention?
by Carlo Alcaraz & Stijn Claessens & Gabriel Cuadra & David Marques-Ibanez & Horacio Sapriza - 748 Domestic and global output gaps as inflation drivers: what does the Phillips curve tell?
by Martina Jašová & Richhild Moessner & Előd Takáts - 747 How do credit ratings affect bank lending under capital constraints?
by Stijn Claessens & Andy Law & Teng Wang - 746 What drives local lending by global banks?
by Stefan Avdjiev & Uluc Aysun & Ralf Hepp - 745 Financial stress in lender countries and capital outflows from emerging market economies
by Ilhyock Shim & Kwanho Shin - 744 Why you should use the Hodrick-Prescott filter - at least to generate credit gaps
by Mathias Drehmann & James Yetman - 743 An intermediation-based model of exchange rates
by Semyon Malamud & Andreas Schrimpf - 742 Quantitative or qualitative forward guidance: Does it matter?
by Gunda-Alexandra Detmers & Özer Karagedikli & Richhild Moessner - 741 Reserve requirements and capital flows in Latin America
by Michael Brei & Ramon Moreno - 740 The macroeconomic effects of macroprudential policy
by Björn Richter & Moritz Schularick & Ilhyock Shim - 739 The economics of revoking NAFTA
by Raphael Auer & Barthélémy Bonadio & Andrei A Levchenko - 738 Bank solvency risk and funding cost interactions in a small open economy: evidence from Korea
by Iñaki Aldasoro & Kyounghoon Park - 737 Transmission of monetary policy through global banks: whose policy matters?
by Stefan Avdjiev & Catherine Koch & Patrick McGuire & Goetz von Peter - 736 The role of household debt heterogeneity on consumption: Evidence from Japanese household data
by Jouchi Nakajima - 735 Gauging procyclicality and financial vulnerability in Asia through the BIS banking and financial statistics
by Stefan Avdjiev & Bat-el Berger & Hyun Song Shin - 734 Payments, credit and asset prices
by Monika Piazzesi & Martin Schneider - 733 A risk-centric model of demand recessions and macroprudential policy
by Ricardo Caballero & Alp Simsek - 732 The global factor in neutral policy rates: Some implications for exchange rates, monetary policy, and policy coordination
by Richard Clarida - 731 The likelihood of effective lower bound events
by Michal Franta - 730 US monetary policy and fluctuations of international bank lending
by Stefan Avdjiev & Galina Hale - 729 Has inflation targeting become less credible?
by Nathan Sussman & Osnat Zohar - 728 Accumulation of foreign currency reserves and risk-taking
by Rasmus Fatum & James Yetman - 727 Recent RMB policy and currency co-movements
by Robert N McCauley & Chang Shu - 726 Residential investment and economic activity: evidence from the past five decades
by Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek - 725 Identifying oil price shocks and their consequences: the role of expectations in the crude oil market
by Takuji Fueki & Hiroka Higashi & Naoto Higashio & Jouchi Nakajima & Shinsuke Ohyama & Yoichiro Tamanyu - 724 Do small bank deposits run more than large ones? Three event studies of contagion and financial inclusion
by Dante B Canlas & Johnny Noe E Ravalo & Eli M Remolona - 723 The cross-border credit channel and lending standards surveys
by Andrew Filardo & Pierre Siklos - 722 The enduring link between demography and inflation
by Mikael Juselius & Előd Takáts - 721 Effects of asset purchases and financial stability measures on term premia in the euro area
by Richhild Moessner - 720 Could a higher inflation target enhance macroeconomic stability?
by José Dorich & Nicholas Labelle St-Pierre & Vadym Lepetyuk & Rhys Mendes - 719 Channels of US monetary policy spillovers to international bond markets
by Elias Albagli & Luis Ceballos & Sebastián Claro & Damian Romero - 718 Breaking the trilemma: the effects of financial regulations on foreign assets
by David Perez-Reyna & Mauricio Villamizar-Villegas - 717 Financial and price stability in emerging markets: the role of the interest rate
by Lorenzo Menna & Martin Tobal - 716 Macro-financial linkages: the role of liquidity dependence
by Alexey Ponomarenko & Anna Rozhkova & Sergei Seleznev - 715 A time series model of interest rates with the effective lower bound
by Benjamin K Johannsen & Elmar Mertens - 714 Do interest rates play a major role in monetary policy transmission in China?
by Güneş Kamber & Madhusudan Mohanty - 713 Inflation and professional forecast dynamics: an evaluation of stickiness, persistence, and volatility
by Elmar Mertens & James M. Nason - 712 Firms' credit risk and the onshore transmission of the global financial cycle
by Ramon Moreno & José María Serena Garralda - 711 Credit supply and productivity growth
by Francesco Manaresi & Nicola Pierri - 710 Exchange rate appreciations and corporate risk taking
by Sebnem Kalemli-Ozcan & Xiaoxi Liu & Ilhyock Shim - 709 Does sovereign risk in local and foreign currency differ?
by Marlene Amstad & Frank Packer & Jimmy Shek - 708 Business models and dollar funding of global banks
by Iñaki Aldasoro & Torsten Ehlers & Egemen Eren - 707 Global imbalances from a stock perspective. The asymmetry between creditors and debtors
by Enrique Alberola-Ila & Ángel Estrada & Francesca Viani - 706 Monetary policy in the grip of a pincer movement
by Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul - 705 An explanation of negative swap spreads: demand for duration from underfunded pension plans
by Sven Klingler & Suresh Sundaresan - 704 Are credit rating agencies discredited? Measuring market price effects from agency sovereign debt announcements
by Mahir Binici & Michael M Hutchison & Evan Weicheng Miao - 703 The negative interest rate policy and the yield curve
by Dora Xia & Jing Cynthia Wu - 702 Cross-stock market spillovers through variance risk premiums and equity flows
by Masazumi Hattori & Ilhyock Shim & Yoshihiko Sugihara - 701 Mapping shadow banking in China: structure and dynamics
by Torsten Ehlers & Steven Kong & Feng Zhu - 700 The perils of approximating fixed-horizon inflation forecasts with fixed-event forecasts
by James Yetman - 699 Deflation expectations
by Ryan Niladri Banerjee & Aaron Mehrotra - 698 Money and trust: lessons from the 1620s for money in the digital age
by Isabel Schnabel & Hyun Song Shin - 697 Are banks opaque? Evidence from insider trading
by Fabrizio Spargoli & Christian Upper - 696 Monetary policy spillovers, global commodity prices and cooperation
by Andrew Filardo & Jacopo Lombardi & Carlos Montoro - 695 The dollar exchange rate as a global risk factor: evidence from investment
by Stefan Avdjiev & Valentina Bruno & Catherine Koch - 694 Exchange Rates and the Working Capital Channel of Trade Fluctuations
by Valentina Bruno & Se-Jik Kim - 693 Family first? Nepotism and corporate investment
by Gianpaolo Parise & Fabrizio Leone - 692 Central bank forward guidance and the signal value of market prices
by Stephen Morris & Hyun Song Shin - 691 Effectiveness of unconventional monetary policies in a low interest rate environment
by Andrew Filardo & Jouchi Nakajima - 690 Nonlinear state and shock dependence of exchange rate pass through on prices
by Hernán Rincón-Castro & Norberto Rodríguez-Niño - 689 Estimating unknown arbitrage costs: evidence from a three-regime threshold vector error correction model
by Kristyna Ters & Jörg Urban - 688 Global factors and trend inflation
by Güneş Kamber & Benjamin Wong - 687 Searching for yield abroad: risk-taking through foreign investment in U.S. bonds
by John Ammer & Alexandra Tabova & Caleb Wroblewski - 686 Determinants of bank profitability in emerging markets
by Emanuel Kohlscheen & Andrés Murcia Pabón & Juan Contreras
2017
- 685 Why so low for so long? A long-term view of real interest rates
by Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul - 684 Triffin: dilemma or myth?
by Michael Bordo & Robert N McCauley - 683 Can macroprudential measures make cross-border lending more resilient?
by Előd Takáts & Judit Temesvary - 682 Bank business models: popularity and performance
by Rungporn Roengpitya & Nikola Tarashev & Kostas Tsatsaronis & Alan Villegas - 681 Corporate leverage in EMEs: did the global financial crisis change the determinants?
by Snehal S Herwadkar - 680 The macroeconomic effects of asset purchases revisited
by Henning Hesse & Boris Hofmann & James Weber - 679 Syndicated loans and CDS positioning
by Iñaki Aldasoro & Andreas Barth - 678 CoCo issuance and bank fragility
by Stefan Avdjiev & Bilyana Bogdanova & Patrick Bolton & Wei Jiang & Anastasia Kartasheva - 677 Macroeconomic implications of financial imperfections: a survey
by Stijn Claessens & M Ayhan Kose - 676 Asset prices and macroeconomic outcomes: a survey
by Stijn Claessens & M Ayhan Kose - 675 Macroprudential Policies in Peru: The effects of Dynamic Provisioning and Conditional Reserve Requirements
by Elias Minaya & Miguel Cabello - 674 Credit supply responses to reserve requirement: loan-level evidence from macroprudential policy
by João Barata R B Barroso & Rodrigo Barbone Gonzalez & Bernardus F Nazar Van Doornik - 673 Loan-to-value policy and housing finance: effects on constrained borrowers
by Douglas Kiarelly Godoy de Araujo & João Barata R B Barroso & Rodrigo Barbone Gonzalez - 672 Capital and currency-based macroprudential policies: an evaluation using credit registry data
by Horacio A Aguirre & Gastón Repetto - 671 Capital misallocation and financial development: A sector-level analysis
by Daniela Marconi & Christian Upper - 670 Policy Rules for Capital Controls
by Gurnain Kaur Pasricha - 669 Credit misallocation during the European financial crisis
by Fabiano Schivardi & Enrico Sette & Guido Tabellini - 668 Financial and real shocks and the effectiveness of monetary and macroprudential policies in Latin American countries
by Javier Garcia-Cicco & Markus Kirchner & Julio Carrillo & Diego Rodríguez & Fernando Perez & Rocío Gondo & Carlos Montoro & Roberto Chang - 667 Modeling Time-Varying Uncertainty of Multiple-Horizon Forecast Errors
by Todd E Clark & Michael W McCracken & Elmar Mertens - 666 Bank capital allocation under multiple constraints
by Tirupam Goel & Ulf Lewrick & Agnė Nikola Tarashev - 665 Interest rates and house prices in the United States and around the world
by Gregory Sutton & Dubravko Mihaljek & Agnė Subelytė - 664 Is the price right? Swing pricing and investor redemptions
by Ulf Lewrick & Jochen Schanz - 663 Liquidity risk in markets with trading frictions: What can swing pricing achieve?
by Ulf Lewrick & Jochen Schanz - 662 The real effects of relationship lending
by Ryan Niladri Banerjee & Leonardo Gambacorta & Enrico Sette - 661 How important is the Global Financial Cycle? Evidence from capital flows
by Eugenio Cerutti & Stijn Claessens & Andrew K Rose - 660 Informal one-sided target zone model and the Swiss franc
by Yu-Fu Chen & Michael Funke & Richhild Moessner - 659 Effects of capital controls on foreign exchange liquidity
by Carlos Cantú - 658 The Distance Effect in Banking and Trade
by Michael Brei & Goetz von Peter - 657 Quality Pricing-to-Market
by Raphael Auer & Thomas Chaney & Philip Sauré - 656 Demographics will reverse three multi-decade global trends
by Charles Goodhart & Manoj Pradhan - 655 The FinTech Opportunity
by Thomas Philippon - 654 World changes in inequality: an overview of facts, causes, consequences and policies
by François Bourguignon - 653 Dollar pricing redux
by Camila Casas & Federico Díez & Gita Gopinath & Pierre-Olivier Gourinchas - 652 The discontinuation of the EUR/CHF minimum exchange rate in January 2015: was it expected?
by Michael Funke & Julius Loermann & Richhild Moessner - 651 Segmented money markets and covered interest parity arbitrage
by Dagfinn Rime & Andreas Schrimpf & Olav Syrstad - 650 Financial deglobalisation in banking?
by Robert Neil McCauley & Agustín S Bénétrix & Patrick McGuire & Goetz von Peter - 649 Monetary policy transmission and trade-offs in the United States: Old and new
by Boris Hofmann & Gert Peersman - 648 Credit ratings of domestic and global agencies: What drives the differences in China and how are they priced?
by Xianfeng Jiang & Frank Packer - 647 The evolution of inflation expectations in Japan
by Masazumi Hattori & James Yetman - 646 Macroprudential policy and bank risk
by Yener Altunbas & Mahir Binici & Leonardo Gambacorta - 645 Accounting for debt service: the painful legacy of credit booms
by Mathias Drehmann & Mikael Juselius & Anton Korinek - 644 The shifting drivers of global liquidity
by Stefan Avdjiev & Leonardo Gambacorta & Linda Goldberg & Stefano Schiaffi - 643 The international dimensions of macroprudential policies
by Pierre-Richard Agénor & Enisse Kharroubi & Leonardo Gambacorta & Giovanni Lombardo & Luiz Awazu Pereira da Silva - 642 The effects of monetary policy shocks on inequality in Japan
by Masayuki Inui & Nao Sudo & Tomoaki Yamada - 641 China's evolving monetary policy rule: from inflation-accommodating to anti-inflation policy
by Eric Girardin & Sandrine Lunven & Guonan Ma - 640 Understanding the determinants of financial outcomes and choices: the role of noncognitive abilities
by Gianpaolo Parise & Kim Peijnenburg - 639 Supply- and demand-side factors in global banking
by Mary Amiti & Patrick McGuire & David E Weinstein - 638 Assessing fiscal policy through the lens of the financial and the commodity price cycles
by Enrique Alberola-Ila & Ricardo Sousa - 637 Global value chains and effective exchange rates at the country-sector level
by Nikhil Patel & Zhi Wang & Shang-Jin Wei - 636 The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data
by Leonardo Gambacorta & Andrés Murcia Pabón - 635 Prudential policies and their impact on credit in the United States
by Paul Calem & Ricardo Correa & Seung Jung Lee - 634 Evaluating the impact of macroprudential policies on credit growth in Colombia
by Esteban Gómez & Angélica Lizarazo & Juan Carlos Mendoza & Andrés Murcia Pabón - 633 The impact of warnings published in a financial stability report on loan-to value ratios
by Andrés Alegría & Rodrigo Alfaro & Felipe Córdova - 632 The impact of macroprudential housing finance tools in Canada
by Jason Allen & Timothy Grieder & Tom Roberts & Brian Peterson - 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 & Jörg Urban - 630 How post-crisis regulation has affected bank CEO compensation
by Vittoria Cerasi & Sebastian M Deininger & Leonardo Gambacorta & Tommaso Oliviero - 629 The beneficial aspect of FX volatility for market liquidity
by Jakree Koosakul & Ilhyock Shim - 628 Is monetary policy less effective when interest rates are persistently low?
by Claudio Borio & Boris Hofmann - 627 External debt composition and domestic credit cycles
by Stefan Avdjiev & Stephan Binder & Ricardo Sousa - 626 Monetary policy's rising FX impact in the era of ultra-low rates
by Massimo Ferrari & Jonathan Kearns & Andreas Schrimpf - 625 Scarcity effects of QE: A transaction-level analysis in the Bund market
by Kathi Schlepper & Heiko Hofer & Ryan Riordan & Andreas Schrimpf - 624 Does exchange rate depreciation have contractionary effects on firm-level investment?
by José María Serena & Ricardo Sousa - 623 International inflation spillovers through input linkages
by Raphael Auer & Andrei A Levchenko & Philip Sauré - 622 External financing and economic activity in the euro area - why are bank loans special?
by Iñaki Aldasoro & Robert Unger - 621 The dynamics of investment projects: evidence from Peru
by Rocío Gondo & Marco Vega - 620 Commodity price risk management and fiscal policy in a sovereign default model
by Bernabe Lopez-Martin & Julio Leal & Andre Martinez Fritscher - 619 Volatility risk premia and future commodities returns
by José Renato Haas Ornelas & Roberto Baltieri Mauad - 618 Business cycles in an oil economy
by Drago Bergholt & Vegard H Larsen & Martin Seneca - 617 Oil, equities, and the zero lower bound
by Deepa Datta & Benjamin K Johannsen & Hannah Kwon & Robert J Vigfusson - 616 Macro policy responses to natural resource windfalls and the crash in commodity prices
by Frederick van der Ploeg - 615 Currency wars or efficient spillovers?
by Anton Korinek - 614 Changing business models in international bank funding
by Leonardo Gambacorta & Adrian Van Rixtel & Stefano Schiaffi - 613 Risk sharing and real exchange rates: the role of non-tradable sector and trend shocks
by Hüseyin Çağrı Akkoyun & Yavuz Arslan & Mustafa Kılınç - 612 Monetary policy and bank lending in a low interest rate environment: diminishing effectiveness?
by Claudio Borio & Leonardo Gambacorta - 611 The effects of tax on bank liability structure
by Leonardo Gambacorta & Giacomo Ricotti & Suresh Sundaresan & Zhenyu Wang - 610 Global impact of US and euro area unconventional monetary policies: a comparison
by Qianying Chen & Marco Lombardi & Alex Ross & Feng Zhu - 609 Revisiting the commodity curse: a financial perspective
by Enrique Alberola-Ila & Gianluca Benigno - 608 Redemption risk and cash hoarding by asset managers
by Stephen Morris & Ilhyock Shim & Hyun Song Shin - 607 The real effects of household debt in the short and long run
by Marco Jacopo Lombardi & Madhusudan Mohanty & Ilhyock Shim - 606 Market volatility, monetary policy and the term premium
by Sushanta K Mallick & Madhusudan Mohanty & Fabrizio Zampolli - 605 Wage and price setting: new evidence from Uruguayan firms
by Fernando Borraz & Gerardo Licandro & Daniela Sola - 604 Endogenous wage indexation and aggregate shocks
by Julio A. Carrillo & Gert Peersman & Joris Wauters - 603 Multiplex interbank networks and systemic importance - An application to European data
by Iñaki Aldasoro & Ivan Alves - 602 The globalisation of inflation: the growing importance of global value chains
by Raphael Auer & Claudio Borio & Andrew Filardo - 601 Asymmetric information and the securitization of SME loans
by Ugo Albertazzi & Margherita Bottero & Leonardo Gambacorta & Steven Ongena
2016
- 600 The currency dimension of the bank lending channel in international monetary transmission
by Elod Takats & Judit Temesvary - 599 Banking industry dynamics and size-dependent capital regulation
by Tirupam Goel - 598 Did the founding of the Federal Reserve affect the vulnerability of the interbank system to contagion risk?
by Mark A Carlson & David C Wheelock - 597 Bank networks: contagion, systemic risk and prudential policy
by Iñaki Aldasoro & Domenico Delli Gatti & Ester Faia - 596 Macroeconomics of bank capital and liquidity regulations
by Frederic Boissay & Fabrice Collard - 595 Bank lending and loan quality: the case of India
by Pallavi Chavan & Leonardo Gambacorta - 594 A quantitative case for leaning against the wind
by Andrew Filardo & Phurichai Rungcharoenkitkul - 593 The countercyclical capital buffer and the composition of bank lending
by Raphael Auer & Steven Ongena - 592 The dollar, bank leverage and the deviation from covered interest parity
by Stefan Avdjiev & Wenxin Du & Catherine Koch & Hyun Song Shin - 591 Adding it all up: the macroeconomic impact of Basel II and outstanding reform issues
by Ingo Fender & Ulf Lewrick - 590 The failure of covered interest parity: FX hedging demand and costly balance sheets
by Vladyslav Sushko & Claudio Borio & Robert Neil McCauley & Patrick McGuire - 589 International prudential policy spillovers: a global perspective
by Stefan Avdjiev & Catherine Koch & Patrick McGuire & Goetz von Peter - 588 Macroprudential policies, the long-term interest rate and the exchange rate
by Philip Turner