Working Papers


  • 1-June-2010

    English

    Can emerging asset price bubbles be detected?

    Bayesian Model Averaging techniques are used to analyse how robustly it is possible to identify factors that may lead to the bursting of asset price bubbles in OECD economies.

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  • 22-February-2010

    English

    Monetary policy responses to the crisis and exit strategies

    Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures.

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  • 3-February-2010

    English

    China’s financial sector reforms

    Despite progress in opening up the financial sector to international investors and in allowing domestic investors to invest abroad, liberalisation has been slow and in most market segments the foreign share remains very small.

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  • 18-December-2009

    English

    Towards a flexible exchange rate policy in Russia

    In the years preceding the onset of the global financial crisis, the Central Bank of Russia (CBR) had two goals: to reduce inflation and limit the real appreciation of the rouble.

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  • 10-December-2009

    English

    Financial stability: overcoming the crisis and improving the efficiency of the banking sector in Japan

    Japanese banks largely avoided the direct impact from the global financial crisis thanks to their limited exposure to foreign toxic assets, the regulatory framework in Japan and the small role of securitisation.

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  • 1-December-2009

    English

    Prudential regulation and competition in financial markets

    This paper examines how a range of stability-oriented regulatory policies for banking and insurance are related to selected stability and competition outcomes in these sectors.

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  • 3-November-2009

    English

    Pedal to the metal: Structural reforms to boost long-term growth in Mexico and spur recovery from the crisis

    While Mexico’s growth performance has gradually improved over the past decades, its convergence toward OECD countries has been less rapid than in several other emerging markets.

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  • 3-November-2009

    English

    Russia’s long and winding road to a more efficient and resilient banking sector

    This paper discusses the policy imperatives in the short term, in the face of the ongoing economic crisis, and reforms that could be implemented over the longer term to improve the efficiency and resilience of the financial system and raise Russia’s potential growth rate.

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  • 29-October-2009

    English

    Understanding the world trade collapse

    This paper shows that world demand (to which trade has become more responsive in recent decades) can explain most of the collapse in world trade, but that tight credit conditions have likely amplified the short-term trade response.

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  • 15-October-2009

    English

    Iceland: Challenging Times for Monetary and Fiscal Policies (Economics Department Working Paper 726)

    This working paper discusses what policy makers should do in order to restore balance in the Icelandic economy and lay out the foundations for a sustainable recovery.

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