Details about Benoit Mojon

Workplace:

Bank for International Settlements (BIS), (more information at EDIRC)

Access statistics for papers by Benoit Mojon.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

Short-id: pmo43

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Working Papers

2024

1. Bank Rollover Risk and Liquidity Supply Regimes
   Post-Print, HAL
   See also Journal Article Bank Rollover Risk and Liquidity Supply Regimes, International Journal of Central Banking, International Journal of Central Banking (2024) (2024)
2. Incentive-Compatible Unemployment Reinsurance for the Euro Area
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in BIS Working Papers, Bank for International Settlements (2024)
3. Monetary policy frameworks away from the ELB
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in BIS Working Papers, Bank for International Settlements (2023)
   RBA Annual Conference Papers, Reserve Bank of Australia (2023)
4. Targeted Taylor rules: some evidence and theory
   BIS Working Papers, Bank for International Settlements
5. The Impact of Green Investors on Stock Prices
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   Also in BIS Working Papers, Bank for International Settlements (2023) View citations (2)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)

2023

6. Disinflation milestones
   BIS Bulletins, Bank for International Settlements
7. The contribution of monetary policy to disinflation
   BIS Bulletins, Bank for International Settlements

2022

8. Building portfolios of sovereign securities with decreasing carbon footprints
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (3)
   Also in BIS Working Papers, Bank for International Settlements (2022) View citations (3)

2021

9. Building Benchmarks Portfolios with Decreasing Carbon Footprints
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (4)
   Also in BIS Working Papers, Bank for International Settlements (2021)
10. Fiscal and monetary policy interactions in a low interest rate world
    BIS Working Papers, Bank for International Settlements View citations (18)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
11. Global reflation ?
    BIS Bulletins, Bank for International Settlements
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2008) View citations (17)
    Working Paper Series, European Central Bank (2005) View citations (64)
    Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) (2006) View citations (1)
    Working Papers Central Bank of Chile, Central Bank of Chile (2005) View citations (4)
    See also Journal Article Global Inflation, The Review of Economics and Statistics, MIT Press (2010) View citations (113) (2010)
12. Greening (Runnable) Brown Assets with a Liquidity Backstop
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (4)
    Also in BIS Working Papers, Bank for International Settlements (2021) View citations (4)
13. What 31 provinces reveal about growth in China
    BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT) View citations (1)
    Also in BIS Working Papers, Bank for International Settlements (2021) View citations (4)

2020

14. A New Indicator of Bank Funding Cost
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
15. Bank Funding Cost and Liquidity Supply Regimes
    BIS Working Papers, Bank for International Settlements View citations (2)
16. Does the Liquidity Trap Exist?
    Working papers, Banque de France View citations (6)
    Also in Working Papers, FEDEA (2020) View citations (4)
    BIS Working Papers, Bank for International Settlements (2020) View citations (7)
17. The macroeconomic spillover effects of the pandemic on the global economy
    BIS Bulletins, Bank for International Settlements View citations (37)

2019

18. Can an ageing workforce explain low inflation?
    BIS Working Papers, Bank for International Settlements View citations (12)
    See also Chapter Can an ageing workforce explain low inflation?, BIS Papers chapters, Bank for International Settlements (2020) (2020)
19. Why have interest rates fallen far below the return on capital
    BIS Working Papers, Bank for International Settlements View citations (19)
    Also in Working papers, Banque de France (2017) View citations (33)
    Working Paper Series, Federal Reserve Bank of Chicago (2018) View citations (21)
    See also Journal Article Why have interest rates fallen far below the return on capital?, Journal of Monetary Economics, Elsevier (2021) View citations (11) (2021)

2018

20. Forward Guidance and Heterogeneous Beliefs
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (31)
    Also in HEC Research Papers Series, HEC Paris (2016) View citations (5)
    Working papers, Banque de France (2015) View citations (63)
    2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (5)
    BIS Working Papers, Bank for International Settlements (2018) View citations (10)
    See also Journal Article Forward Guidance and Heterogeneous Beliefs, American Economic Journal: Macroeconomics, American Economic Association (2019) View citations (108) (2019)
21. The labor supply of baby boomers and low flation
    Documents de Travail de l'OFCE, Observatoire Francais des Conjonctures Economiques (OFCE) View citations (7)
    Also in Working Papers, HAL (2018) View citations (8)
    SciencePo Working papers Main, HAL (2018) View citations (1)

2017

22. Why Are Real Interest Rates So Low?
    2017 Meeting Papers, Society for Economic Dynamics View citations (1)
    Also in 2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (1)

2016

23. Measuring Financial Fragmentation in the Euro Area Corporate Bond Market
    Working papers, Banque de France View citations (15)
    See also Journal Article Measuring Financial Fragmentation in the Euro Area Corporate Bond Market, JRFM, MDPI (2018) View citations (17) (2018)
24. The Pre-Great Recession Slowdown in Productivity
    Working papers, Banque de France View citations (224)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2016) View citations (162)
    Post-Print, HAL (2016) View citations (204)
    See also Journal Article The pre-Great Recession slowdown in productivity, European Economic Review, Elsevier (2016) View citations (217) (2016)

2015

25. Central Banking
    Post-Print, HAL
26. Risk Shifting with Fuzzy Capital Constraints
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (11)
    Also in Post-Print, HAL (2015) View citations (15)
    SciencePo Working papers Main, HAL (2015) View citations (2)
    Post-Print, HAL (2015) View citations (9)
    See also Journal Article Risk Shifting with Fuzzy Capital Constraints, International Journal of Central Banking, International Journal of Central Banking (2015) View citations (16) (2015)

2014

27. Credit Risk in the Euro Area
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
    Also in Working papers, Banque de France (2014) View citations (52)
    See also Journal Article Credit Risk in the Euro Area, Economic Journal, Royal Economic Society (2018) View citations (99) (2018)

2013

28. Equilibrium risk shifting and interest rate in an opaque financial system
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (8)
    Also in Post-Print, HAL (2013) View citations (8)
    Working papers, Banque de France (2012) View citations (14)
    See also Journal Article Equilibrium risk shifting and interest rate in an opaque financial system, European Economic Review, Elsevier (2013) View citations (12) (2013)
29. Macro-Prudential Policy and the Conduct of Monetary Policy
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (19)
    Also in Occasional papers, Banque de France (2011) View citations (28)
    Working papers, Banque de France (2012) View citations (96)
    See also Chapter Macro-Prudential Policy and the Conduct of Monetary Policy, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2014) View citations (5) (2014)

2010

30. The future of monetary policy. Summary of the conference held in Rome on 30 September and 1 October 2010
    Post-Print, HAL
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2010)

2009

31. Fuzzy Capital Requirements, Risk-Shifting and the Risk Taking Channel of Monetary Policy
    Working papers, Banque de France View citations (53)

2008

32. How Has the Euro Changed the Monetary Transmission?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (97)

2007

33. Fast micro and slow macro: can aggregation explain the persistence of inflation?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (30)
    Also in Working Paper Series, European Central Bank (2007) View citations (55)
34. Monetary policy, output composition and the Great Moderation
    Working Paper Series, Federal Reserve Bank of Chicago View citations (10)

2005

35. Breaks in the mean of inflation: how they happen and what to do with them
    Working Paper Series, European Central Bank View citations (68)
36. Forecasting the central bank's inflation objective is a good rule of thumb
    Working Paper Series, European Central Bank View citations (13)
37. Term structure and the sluggishness of retail bank interest rates in euro area countries
    Working Paper Series, European Central Bank View citations (95)
38. When did unsystematic monetary policy have an effect on inflation?
    Working Paper Series, European Central Bank View citations (1)
    See also Journal Article When did unsystematic monetary policy have an effect on inflation?, European Economic Review, Elsevier (2008) View citations (16) (2008)

2003

39. Monetary Transmission in the Euro Area: Does the Interest Rate Channel Explain it All?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (50)
40. The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and U.S
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (84)
    Also in Working Paper Series, European Central Bank (2003) View citations (78)

2002

41. Monetary Transmission in the Euro Area: Where Do We Stand?
    Working Paper Series, European Central Bank View citations (202)

2001

42. A VAR description of the effects of monetary policy in the individual countries of the euro area
    Working Paper Series, European Central Bank View citations (249)
43. Investment and monetary policy in the euro area
    Working Paper Series, European Central Bank View citations (25)
    See also Journal Article Investment and monetary policy in the euro area, Journal of Banking & Finance, Elsevier (2002) View citations (30) (2002)
44. Some stylised facts on the euro area business cycle
    Working Paper Series, European Central Bank View citations (112)

2000

45. Financial structure and the interest rate channel of ECB monetary policy
    Working Paper Series, European Central Bank View citations (256)

1998

46. EMU and Transatlantic Exchange Rate Stability
    Working Papers, CEPII research center View citations (10)
47. Monetary Policy Under a Fixed Exchange Rate Regime, the Case of France 1987-1996
    Working Papers, CEPII research center View citations (6)
48. Sacrifice Ratios in Europe: a Comparison
    Working Papers, CEPII research center View citations (7)
49. Structures financières et transmission de la politique monétaire en Europe, analyses comparatives de l’Allemagne, la France, l’Italie et le Royaume-Uni
    Working Papers, CEPII research center View citations (2)
50. The EMU's exchange rate policy
    ZEI Working Papers, University of Bonn, ZEI - Center for European Integration Studies
51. The International Role of the Euro
    Working Papers, CEPII research center View citations (10)

1997

52. Looking for French Monetary Policy
    Working Papers, CEPII research center
53. The Euro and Exchange Rate Stability
    Working Papers, CEPII research center View citations (27)

1996

54. The Transmission of Monetary Policy in the European Countries
    Working Papers, CEPII research center View citations (64)

1995

55. Asymétries financières en Europe et transmission de la politique monétaire
    Working Papers, CEPII research center View citations (1)
56. Interest Rates, Banking Spreads and Credit Supply: The Real Effects
    Working Papers, CEPII research center View citations (8)
    See also Journal Article Interest rates, banking spreads and credit supply: the real effects, The European Journal of Finance, Taylor & Francis Journals (1997) View citations (1) (1997)

1994

57. Réglementation et prise de risque des intermédiaires financiers
    Working Papers, CEPII research center
58. Transmission de la politique monétaire et crédit, une application à 5 pays de l'OCDE
    Working Papers, CEPII research center View citations (11)

Journal Articles

2024

1. Bank Rollover Risk and Liquidity Supply Regimes
   International Journal of Central Banking, 2024, 20, (3), 373-454
   See also Working Paper Bank Rollover Risk and Liquidity Supply Regimes, Post-Print (2024) (2024)
2. Targeted Taylor rules: monetary policy responses to demand- and supply-driven inflation
   BIS Quarterly Review, 2024 View citations (1)

2021

3. How much stress could Covid put on corporate credit? Evidence using sectoral data
   BIS Quarterly Review, 2021 View citations (4)
4. Why have interest rates fallen far below the return on capital?
   Journal of Monetary Economics, 2021, 124, (S), S57-S76 View citations (11)
   See also Working Paper Why have interest rates fallen far below the return on capital, BIS Working Papers (2019) View citations (19) (2019)

2020

5. Green bonds and carbon emissions: exploring the case for a rating system at the firm level
   BIS Quarterly Review, 2020 View citations (36)

2019

6. Forward Guidance and Heterogeneous Beliefs
   American Economic Journal: Macroeconomics, 2019, 11, (3), 1-29 View citations (108)
   See also Working Paper Forward Guidance and Heterogeneous Beliefs, CEPR Discussion Papers (2018) View citations (31) (2018)

2018

7. Central Banks’ Objective Policies in Perspective
   Revue française d'économie, 2018, XXXIII, (3), 62a-101a
8. Credit Risk in the Euro Area
   Economic Journal, 2018, 128, (608), 118-158 View citations (99)
   See also Working Paper Credit Risk in the Euro Area, NBER Working Papers (2014) View citations (52) (2014)
9. Les politiques d’objectifs des banques centrales en perspective
   Revue française d'économie, 2018, XXXIII, (3), 21-61
10. Measuring Financial Fragmentation in the Euro Area Corporate Bond Market
    JRFM, 2018, 11, (4), 1-19 View citations (17)
    See also Working Paper Measuring Financial Fragmentation in the Euro Area Corporate Bond Market, Working papers (2016) View citations (15) (2016)

2017

11. 12e atelier annuel de banque centrale sur la microstructure des marchés financiers - 29-30 septembre 2016, Banque de France
    Bulletin de la Banque de France, 2017, (210), 35-43
12. 12th Annual Central Bank Workshop on the Microstructure of Financial Markets 29-30 September 2016, Banque de France (Non-technical summary)
    Quarterly selection of articles - Bulletin de la Banque de France, 2017, (45), 23-30

2016

13. Changes in financial fragmentation in the euro area since 2008
    Rue de la Banque, 2016, (28)
14. The pre-Great Recession slowdown in productivity
    European Economic Review, 2016, 88, (C), 3-20 View citations (217)
    See also Working Paper The Pre-Great Recession Slowdown in Productivity, Working papers (2016) View citations (224) (2016)

2015

15. Risk Shifting with Fuzzy Capital Constraints
    International Journal of Central Banking, 2015, 11, (1), 71-101 View citations (16)
    See also Working Paper Risk Shifting with Fuzzy Capital Constraints, PSE-Ecole d'économie de Paris (Postprint) (2015) View citations (11) (2015)

2014

16. Decoupling euro area and US yield curves
    Rue de la Banque, 2014, (01)

2013

17. Equilibrium risk shifting and interest rate in an opaque financial system
    European Economic Review, 2013, 63, (C), 117-133 View citations (12)
    See also Working Paper Equilibrium risk shifting and interest rate in an opaque financial system, PSE-Ecole d'économie de Paris (Postprint) (2013) View citations (8) (2013)

2012

18. The sovereign debt crisis and monetary policy
    Financial Stability Review, 2012, (16), 155-167 View citations (4)

2010

19. Global Inflation
    The Review of Economics and Statistics, 2010, 92, (3), 524-535 View citations (113)
    See also Working Paper Global reflation ?, BIS Bulletins (2021) (2021)
20. Le futur de la politique monétaire: synthèse de la conférence tenue à Rome le 30 septembre et le 1er octobre 2010
    Bulletin de la Banque de France, 2010, (182), 79-85 View citations (1)
    Also in Quarterly selection of articles - Bulletin de la Banque de France, 2010, (20), 85-94 (2010)
21. The 2007–2009 Financial Crisis and the European Central Bank
    Open Economies Review, 2010, 21, (1), 175-182 View citations (1)

2009

22. Can aggregation explain the persistence of inflation?
    Journal of Monetary Economics, 2009, 56, (2), 231-241 View citations (106)
23. Le dollar et l’inflation mondiale
    Revue d'Économie Financière, 2009, 94, (1), 81-106

2008

24. Are inflation targets good inflation forecasts?
    Economic Perspectives, 2008, 32, (Q II), 33-45 View citations (16)
25. When did unsystematic monetary policy have an effect on inflation?
    European Economic Review, 2008, 52, (3), 487-497 View citations (16)
    See also Working Paper When did unsystematic monetary policy have an effect on inflation?, Working Paper Series (2005) View citations (1) (2005)

2006

26. Sectoral and Aggregate Inflation Dynamics in the Euro Area
    Journal of the European Economic Association, 2006, 4, (2-3), 585-593 View citations (81)

2005

27. Is inflation a global phenomenon?
    Research Bulletin, 2005, 3, 6-7 View citations (3)

2003

28. New Macroeconomic Evidence on Monetary Policy Transmission in the Euro Area
    Journal of the European Economic Association, 2003, 1, (2-3), 720-730 View citations (121)
29. The output composition puzzle: a difference in the monetary transmission mechanism in the euro area and United States
    Proceedings, 2003, 1265-1317 View citations (49)
    See also Chapter The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and the United States, Central Banking, Analysis, and Economic Policies Book Series, 2004, 7, 059-120 (2004) View citations (4) (2004)

2002

30. Investment and monetary policy in the euro area
    Journal of Banking & Finance, 2002, 26, (11), 2111-2129 View citations (30)
    See also Working Paper Investment and monetary policy in the euro area, Working Paper Series (2001) View citations (25) (2001)

2001

31. Structures financières et canal des taux d'intérêt de la poltique monétaire dans la zone euro
    Economie & Prévision, 2001, 147, (1), 89-115 View citations (3)
    Also in Économie et Prévision, 2001, 147, (1), 89-115 (2001) View citations (10)

1999

32. Monetary policy under a quasi-fixed exchange rate regime. The case of France between 1987 and 1996
    Banca Nazionale del Lavoro Quarterly Review, 1999, 52, (211), 401-430
    Also in BNL Quarterly Review, 1999, 52, (211), 401-430 (1999)

1997

33. Asymétries financières et transmission de la politique monétaire en Europe
    Économie et Prévision, 1997, 128, (2), 41-60 View citations (4)
34. Interest rates, banking spreads and credit supply: the real effects
    The European Journal of Finance, 1997, 3, (2), 107-136 View citations (1)
    See also Working Paper Interest Rates, Banking Spreads and Credit Supply: The Real Effects, Working Papers (1995) View citations (8) (1995)
35. La transmission des politiques monétaires dans les pays européens
    Revue Française d'Économie, 1997, 12, (2), 133-158 View citations (10)

1995

36. Taux d'intérêt, spreads, comportement bancaire: les effets sur l'activité réelle
    Revue Économique, 1995, 46, (3), 625-634
37. Transmission de la politique monétaire et crédit bancaire
    La Lettre du CEPII, 1995, (132) View citations (5)
38. Transmission de la politique monétaire et crédit bancaire. Une application à trois pays de l'OCDE
    Revue Économique, 1995, 46, (2), 393-413 View citations (5)

Books

2023

1. Digital safety nets: a roadmap
   BIS Papers, Bank for International Settlements

Edited books

2012

1. Monetary Policy Transmission in the Euro Area
   Cambridge Books, Cambridge University Press View citations (4)

2003

2. Monetary Policy Transmission in the Euro Area
   Cambridge Books, Cambridge University Press View citations (598)

Chapters

2024

1. Redistribution, automatic stabilizers and public debt
   Chapter 11 in Fiscal Policy in a Turbulent Era, 2024, pp 168-183

2020

2. Can an ageing workforce explain low inflation?
   A chapter in Inflation dynamics in Asia and the Pacific, 2020, vol. 111, pp 73-79
   See also Working Paper Can an ageing workforce explain low inflation?, Bank for International Settlements (2019) View citations (12) (2019)

2014

3. Macro-Prudential Policy and the Conduct of Monetary Policy
   Chapter 9 in Macroeconomic and Financial Stability: challenges for Monetary Policy, 2014, vol. 19, pp 273-314 View citations (5)
   See also Working Paper Macro-Prudential Policy and the Conduct of Monetary Policy, Central Bank of Chile (2013) View citations (19) (2013)

2009

4. How Has the Euro Changed the Monetary Transmission Mechanism?
   A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 77-125 View citations (23)

2004

5. The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and the United States
   Chapter 3 in Banking Market Structure and Monetary Policy, 2004, vol. 7, pp 059-120 View citations (4)
   See also Journal Article The output composition puzzle: a difference in the monetary transmission mechanism in the euro area and United States, Federal Reserve Bank of Cleveland (2003) View citations (49) (2003)