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Levine, Ross; Carvalho Leme, Paulo - In: Crecimiento económico : teoría, instituciones y …, (pp. 365-384). 1995

Persistent link: https://www.econbiz.de/10001291102

Benign Neglect of the Long-Term Interest Rate

Turner, Philip - 2014

Large-scale central bank purchases of government bonds have made the long-term interest rate key in the monetary policy debate. How central banks react to bond market movements has varied greatly from one episode to another. Driving the term premium in long-term rates negative may stimulate...

Persistent link: https://www.econbiz.de/10013064188

The Global Long-Term Interest Rate, Financial Risks and Policy Choices in EMEs

Turner, Philip - 2014

The global long-term interest rate now matters much more for the monetary policy choices facing emerging market economies than a decade ago. The low or negative term premium in the yield curve in the advanced economies from mid-2010 has pushed international investors into EM local bond markets:...

Persistent link: https://www.econbiz.de/10013058511

Low Long-Term Interest Rates as a Global Phenomenon

Hördahl, Peter - 2016

two global benchmarks - the Federal funds rate at the short end and the "world" real interest rate at the long end. Real … longer-term rates, and thus on financing conditions, than is often supposed. The decline in the world long-term rate since … 2008 has been driven almost entirely by a fall in the world term premium (negative in nominal terms since mid-2014). The …

Persistent link: https://www.econbiz.de/10012985773

Monetary Analysis and the Global Financial Cycle : An Asian Central Bank Perspective

Filardo, Andrew J. - 2014

EM Asia has seen a transformation of its monetary policy environment over the past 2 decades. By far, the most relevant change has been the maturing of its financial systems and the growing relevance of the global financial cycle: financial inclusion has spread, financial markets have deepened...

Persistent link: https://www.econbiz.de/10013047524

Monetary Policy Spillovers, Global Commodity Prices and Cooperation

Filardo, Andrew J. - 2018

How do monetary policy spillovers complicate the trade-offs faced by central banks face when responding to commodity prices? This question takes on particular relevance when monetary authorities find it difficult to accurately diagnose the drivers of commodity prices. If monetary authorities...

Persistent link: https://www.econbiz.de/10012928833

The Globalisation of Inflation : The Growing Importance of Global Value Chains

Auer, Raphael - 2017

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...

Persistent link: https://www.econbiz.de/10012965847

Globalisation and Inflation : New Cross-Country Evidence on the Global Determinants of Domestic Inflation

Borio, Claudio E. V.; Filardo, Andrew J. - 2013

likely to have increased as the process of integration of the world economy has gathered momentum, a process commonly …

Persistent link: https://www.econbiz.de/10014224261

The Governance of Financial Regulation : Reform Lessons from the Recent Crisis

Levine, Ross - 2013

There was a systemic failure of financial regulation: senior policymakers repeatedly enacted and implemented policies that destabilised the global financial system. They maintained these policies even as they learned of the consequences of their policies during the decade before the crisis. The...

Persistent link: https://www.econbiz.de/10013094089