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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• Economic Survey of the United Kingdom 2009

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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• Economic Survey of Brazil 2009

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.

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.

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.

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.

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.

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.

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.

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.

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• Economic Survey of the Euro Area 2009