On 2 and 3 December 2004, the BIS hosted a meeting of Deputy Governors of central banks from major emerging market economies to discuss foreign exchange market intervention. Some flavour of the discussion can be gleaned from the following central bank papers, along with papers prepared by BIS...

Central banks have an incentive to monitor the fiscal position of the government for at least two reasons. First fiscal policy can constrain the implementation of monetary policy, particularly when governments call on the central bank to fund government programmes. Second, fiscal policy measures...

The papers on the following pages were presented and discussed at a workshop on quot;Modelling aspects of the inflation process and the monetary transmission mechanism in emerging market countriesquot;, held at the BIS on 15-16 January 2001. It was the first time that the BIS had arranged a...

This volume, which is a follow-up to BIS Policy Paper No. 3 (January 1998), analyses the major changes in monetary policy transmission in the emerging market economies (EMEs) over the past decade and highlights a number of implications. It is based on two days of discussions among senior central...

Global financial integration has substantially increased in recent decades. Initially, it manifested itself in growing capital flows between developed countries. In response to the removal of capital controls, financial innovation and technological progress, financial integration has...