Working Papers


  • 15-October-2009

    English, , 498kb

    Estonia and euro adoption: Small country challenges of joining EMU - Annex supplement

    Data and supplementary tables from Economics Department working paper on Estonia and euro adoption: Small country challenges of joining EMU.

  • 15-October-2009

    English

    Estonia and euro adoption: Small country challenges of joining EMU

    The ongoing financial crisis has put euro adoption at the top of Estonia's policy agenda. However, shocks affecting Estonia are only weakly synchronized with those of the euro area, and the structure of its economy also notably differs from the euro zone.

  • 15-October-2009

    English

    Iceland: The Financial and Economic Crisis (Economics Department Working Paper 725)

    This working paper begins with a discussion of the factors that made the banks, non-financial firms and households vulnerable to deterioration in global financial markets. It then describes the failure of the banks, its direct impact on government debt, the IMF SBA and the economic outlook.

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  • 30-September-2009

    English

    The role of transparency in the conduct of monetary policy

    In contrast to the once prevailing norm of secrecy and opaqueness, transparency has now become one of the main features characterising the conduct of monetary policy.

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  • 24-August-2009

    English

    Is there a case for price-level targeting?

    There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations.

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  • 22-July-2009

    English

    Financial stability in the United Kingdom: Banking on prudence

    This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.

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  • 15-July-2009

    English

    The bank lending channel of monetary transmission in Brazil: A VECM approach

    This paper tests for the existence of a bank lending channel in the transmission of monetary policy in Brazil using monthly aggregate data for the period 1995:12 through 2008:6.

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  • 22-May-2009

    English

    The effect of financial crises on potential output: new empirical evidence from OECD countries

    The aim of this paper is to assess the impact of financial crises on potential output.

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  • 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.

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  • 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.

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