Working Papers


  • 22-February-2011

    English

    Strengthening the macroeconomic policy framework in South Africa

    South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks.

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  • 17-February-2011

    English

    Macroeconomic impact of Basel III

    The estimated medium-term impact of Basel III implementation on GDP growth is in the range of -0.05 to -0.15 percentage point per annum.

  • 18-January-2011

    English

    Making the Dutch pension system less vulnerable to financial crises

    The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises.

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  • 17-December-2010

    English

    Reforming China’s monetary policy framework to meet domestic objectives

    As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.

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  • 16-December-2010

    English

    Real house prices in OECD countries: the role of demand shocks and structural and policy factors

    This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005.

  • 15-December-2010

    English

    Minimising risks from imbalances in European banking

    The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.

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  • 9-December-2010

    English

    The 2008-09 crisis in Turkey: performance, policy responses and challenges for sustaining the recovery

    Turkey is recovering from its most severe recession in several decades.

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  • 18-November-2010

    English

    Are global imbalances sustainable? Shedding further light on the causes of current account reversals

    Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises.

  • 15-November-2010

    English

    Turkey's improving integration with the global capital market: Impacts on risk premia and capital costs

    Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.

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  • 30-July-2010

    English

    The Korean financial system: overcoming the global financial crisis and addressing remaining problems

    The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets.

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