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There is little evidence that so-called "credibility effects" have altered the trade-off between inflation and employment for countries that have adhered to the exchange rate mechanism of the European Monetary System. OECD Economic Studies No. 18.
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Econometric testing suggests that the trend towards increasing volatility of equity prices has not had strong effects on economic activity. OECD Economic Studies No. 17.
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An examination of factors underlying saving, investment and real interest rates over recent decades suggests that high real interest rates over recent decades suggests that high real interst rates may continue to prevail. Is this a cause for concern? OECD Economic Studies No. 17.
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A flow measure suggests that the growth of global portfolios could continue to translate into an important demand for new dollar assets, albeit not sufficient to cover fully the expected financing need. OECD Economic Studies No. 15.
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The rapide progress of financial market deregulation has been accompanied by new and longer-run challenges for monetary policy. OECD Economic Studies No. 15.
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Some recent research suggests that the "risk premium" may be important in the determination of exchange rates. OECD Economic Studies No. 9.
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Broad changes in financial markets may be altering the probability of crises and the forms they might take. Are the requisite safeguards in place? OECD Economic Studies No. 9.
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What are the implications for the international allocation of capital when financial markets are integrated and national tax systems differ? OECD Economic Studies No. 8.
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Have real interest rates been abnormally high in recent years, and if so, why? OECD Economic Studies No. 5.
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Macroeconomic policies can influence exchange rates, if policy adjustments are large enough and in harmony with each other. OECD Economic Studies No. 3.