Working Papers


  • 10-April-2009

    English

    The impact of monetary and commodity fundamentals, macro news and central bank communication on the exchange rate: Evidence from South Africa

    This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007.

  • 1-April-2009

    English

    Inflation Responses to Recent Shocks: Do G7 Countries Behave Differently?

    This working paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies.

  • 9-March-2009

    English

    The macroeconomic consequences of banking crises in OECD countries

    This paper examines the characteristics of downturns and subsequent recoveries following past banking crises in OECD countries as well as evidence of any effects on potential output growth.

  • 6-March-2009

    English

    Do Latin American central bankers behave non linearly? The experiences of Brazil, Chile, Colombia and Mexico

    This paper estimates unrestricted monetary reaction functions for four Latin American countries (Brazil, Chile, Colombia and Mexico) and tests for the presence of non linear effects in central bank behaviour.

  • 6-March-2009

    English

    Quantifying the effect of financial conditions in the Euro Area, Japan, United Kingdom and United States

    This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the United Kingdom, by extending monetary condition indices which are traditionally used to gauge the impact of monetary policy on the economy.

  • 24-February-2009

    English

    Financial market stability in the European Union: Enhancing regulation and supervision

    Although the European authorities should be commended for the progress they have made in updating and improving frameworks and responding to the financial turmoil, more can be done.

    Related Documents
  • 24-February-2009

    English

    Overcoming the Financial Crisis in the United States

    The global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system.

  • 18-February-2009

    English

    Financial crises: past lessons and policy implications

    This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations.

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