Similar Search Results

Prolonged Reserves Accumulation, Credit Booms, Asset Prices and Monetary Policy in Asia

Filardo, Andrew J. - 2015

This paper examines past evidence of prolonged periods of foreign exchange reserves accumulation in the Asia-Pacific region. One empirical challenge is to identify periods of reserve accumulation that are sufficiently large and persistent to be categorised as prolonged. Several proxies for...

Persistent link: https://www.econbiz.de/10013023473

Why So Low for So Long? A Long-Term View of Real Interest Rates

Borio, Claudio E. V. - 2017

real interest rates are driven by variations in desired saving and investment. But based on data stretching back to 1870 … for 19 countries, our systematic analysis casts doubt on this view. The link between real interest rates and saving-investment … countries that dominate global monetary and financial conditions rather than common movements in global saving and investment …

Persistent link: https://www.econbiz.de/10012941033

Risk in Financial Reporting : Status, Challenges and Suggested Directions

Borio, Claudio E. V. - 2013

Advances in risk measurement technology have reshaped financial markets and the functioning of the financial system. More recently, they have been reshaping the prudential framework. Looking forward, they have the potential to reshape financial reporting too. Recent initiatives to improve...

Persistent link: https://www.econbiz.de/10012711584

Are Changes in Financial Structure Extending Safety Nets?

White, William R. - 2013

Significant attention has recently been directed to the optimal policy response when financial excesses threaten. This paper rather addresses issues pertinent to the appropriate policy response once financial difficulties have actually materialised. It begins with some empirical evidence...

Persistent link: https://www.econbiz.de/10014058417

Precarious Credit Equilibria : Reflections on the Asian Financial Crisis

Bisignano, Joseph - 2013

This paper examines some of the origins of the recent East Asian financial crisis. It is composed of three parts. The first considers the role of moral hazard in the crisis, specifically the influence of implicit and explicit government guarantees which may have contributed to excess borrowing...

Persistent link: https://www.econbiz.de/10014061273

Towards an operational framework for financial stability: "fuzzy" measurement and its consequences

Borio, Claudio E. V.; Drehmann, Mathias - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

Over the last decade or so, addressing financial instability has become a policy priority. Despite the efforts made, policymakers are still a long way from developing a satisfactory operational framework. A major challenge complicating this task is the "fuzziness" with which financial...

Persistent link: https://www.econbiz.de/10009138482

Credit frictions and optimal monetary policy

Cúrdia, Vasco; Woodford, Michael - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

We extend the basic (representative-household) New Keynesian [NK] model ofthe monetary transmission mechanism to allow for a spread between the interestrate available to savers and borrowers, that can vary for either exogenous orendogenous reasons. We nd that the mere existence of a positive...

Persistent link: https://www.econbiz.de/10009138501

Talking about monetary policy: the virtues (and vice?) of central bank communication

Blinder, Alan S. - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

Central banks, which used to be so secretive, are communicating more and more these days about their monetary policy. This development has proceeded hand in glove with a burgeoning new scholarly literature on the subject. The empirical evidence, reviewed selectively here, suggests that...

Persistent link: https://www.econbiz.de/10009138505

Capital regulation, risk-taking and monetary policy: a missing link in the transmission mechanism?

Borio, Claudio E. V.; Zhu, Haibin - Bank für Internationalen Zahlungsausgleich <Basel> - 2008

Few areas of monetary economics have been studied as extensively as the transmission mechanism. The literature on this topic has evolved substantially over the years, following the waxing and waning of conceptual frameworks and the changing characteristics of the financial system. In this paper,...

Persistent link: https://www.econbiz.de/10009248818

To Err is Human : Rating Agencies and the Interwar Foreign Government Debt Crisis

Flandreau, Marc - 2011

During the 1930s, rating agencies took up a central role in regulatory supervision that they still have today. The proximate cause for this changeover was the economic shock of the Great Depression. Exploring the performance of rating agencies in assessing the risks of sovereign debt, an...

Persistent link: https://www.econbiz.de/10013131572

1
2
3
4
5
6
7
8
9
10
Next
Last