Bank of International Settlement
BIS Working Papers | No 789 | 18 June 2019 by Michael J. Lamlaz, Damjan Pfajfar and Lea Rendell PDF full text (711kb) | 53 pages Focus We use novel, individual-level survey data across several countries to quantify inflation and deflationary biases in inflation expectations...
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The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.
Do SVARs with sign restrictions not identify unconventional monetary policy shocks?
BIS Working Papers | No 788 | 18 June 2019 by Jef Boeckx, Maarten Dossche, Alessandro Galesi, Boris Hofmann and Gert Peersman PDF full text (621kb) | 23 pages Focus A growing empirical literature has shown, based on structural vector autoregressions (SVARs)...
Read More »A discussion paper on central counterparty default management auctions
CPMI Papers | No 185 | 05 June 2019 PDF full text (385kb) | 30 pages Central counterparties (CCPs) have become increasingly critical components of the financial system in recent years, due in part to the introduction of mandatory clearing for standardised OTC derivatives in some jurisdictions....
Read More »Industry heterogeneity and exchange rate pass-through
BIS Working Papers | No 787 | 04 June 2019 by Camila Casas PDF full text (866kb) | 65 pages Summary Focus I analyse the relationship at the industry level between the exchange rate pass-through to export and import prices and volumes and the use of imported inputs in production....
Read More »Estimating the effect of exchange rate changes on total exports
BIS Working Papers | No 786 | 04 June 2019 by Thierry Mayer and Walter Steingress PDF full text (5,408kb) | 43 pages Summary Focus Reduced form models that explain total exports with real effective exchange rates (REERs) are widely used in applied policy work, but their analytical...
Read More »Effects of a mandatory local currency pricing law on the exchange rate pass-through
BIS Working Papers | No 785 | 04 June 2019 by Renzo Castellares and Hiroshi Toma PDF full text (698kb) | 37 pages Summary Focus This paper discusses whether Law 28300 of 2004, which required Peruvian firms to express their prices in the Peruvian currency in a context of high price...
Read More »Import prices and invoice currency: evidence from Chile
BIS Working Papers | No 784 | 04 June 2019 by Fernando Giuliano and Emiliano Luttini PDF full text (706kb) | 42 pages Summary Focus We study the exchange rate pass-through to import prices at the dock using detailed customs data for Chile. We quantify the contribution of the invoice...
Read More »BIS Quarterly Review, June 2019
BIS Quarterly Review | 04 June 2019 PDF full text (1,128kb) | 71 pages | ePub The June issue contains only information related to BIS statistics, notably the BIS Statistical Bulletin; relevant material on financial developments will be included in the Annual Economic Report 2019 to be published on 30 June...
Read More »Implementation monitoring of PFMI: Assessment report for the United States – Payment systems, central securities depositories and securities settlement systems
CPMI Papers | No 184 | 31 May 2019 PDF full text (387kb) | 33 pages The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) closely monitor the implementation of the Principles for financial market infrastructures (PFMI). This...
Read More »The use of big data analytics and artificial intelligence in central banking
IFC Bulletin | No 50 | 28 May 2019 PDF full text (65,040kb) | 970 pages Proceedings of the IFC - Bank Indonesia International Workshop and Seminar on Big Data in Bali, 23-26 July 2018. Conference overview The use of big data analytics and artificial intelligence in...
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