Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

A central bank may decide to conduct foreign exchange interventions when it concludes that the exchange rate level without such interventions would be insufficiently strong. A by-product of such interventions will then be a build-up of official foreign exchange (FX) reserves. A case in point is...

This article analyzes the main issues for monetary policy in new EU member states before their euro adoption. These are typically rooted in the challenge of fulfilling concurrently of the Maastricht inflation and exchange rate criterion, as these countries are experiencing equilibrium real...

Purpose – The purpose of this paper is to assist the numerous regulators around the globe who are currently considering ways to impose domestic systemic importance-based capital requirements on banks. Design/methodology/approach – The article discusses in some detail a number of issues from...