BIS Working Papers

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409: Wage and price dynamics in a large emerging economy: The case of China

Carsten Holz and Aaron Mehrotra

408: The Great Financial Crisis: setting priorities for new statistics

Claudio Borio

407: Do economies stall? The international evidence

Wai-Yip Alex Ho and James Yetman

406: Financial crises and bank funding: recent experience in the euro area

Adrian Rixtel and Gabriele Gasperini

405: Information flows in foreign exchange markets: dissecting customer currency trades

Lukas Mankhoff, Lucio Sarno, Maik Schmeling and Andreas Schrimpf

404: Rethinking potential output: Embedding information about the financial cycle

Claudio Borio, Piti Disyatat and John Juselius

403: Benign neglect of the long-term interest rate

Philip Turner

402: Understanding Global Liquidity

Sandra Eickmeier, Leonardo Gambacorta and Boris Hofmann

401: Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets

Paul Mizen, Frank Packer, Eli Remolona and Serafeim Tsoukas

400: Capital Flows and the Risk-Taking Channel of Monetary Policy

Valentina Bruno and Hyun Song Shin

399: Global safe assets

Pierre-Olivier Gourinchas and Olivier Jeanne

398: The great leveraging

Alan Taylor

397: Financial Globalisation and the Crisis

Philip Lane

396: Systematic monetary policy and the forward premium puzzle

Demosthenes Tambakis and Nikola Tarashev

395: The financial cycle and macroeconomics: What have we learnt?

Claudio Borio

394: Unmitigated disasters? New evidence on the macroeconomic cost of natural catastrophes

Goetz von Peter, Sebastian von Dahlen and Sweta Saxena

393: Interpreting TARGET2 balances

Stephen Cecchetti, Robert McCauley and Patrick McGuire

392: Liquidity in Government versus Covered Bond Markets

Jens Dick-Nielsen, Jacob Gyntelberg and Thomas Sangill

391: Emerging market local currency bonds: diversification and stability

Ken Miyajima, Madhusudan Mohanty and Tracy Chan

390: The liquidity consequences of the euro area sovereign debt crisis

William Allen and Richhild Moessner

389: Currency intervention and the global portfolio balance effect: Japanese lessons

Petra Gerlach-Kristen and Robert McCauley

388: Monetary policy in a downturn: Are financial crises special?

Morten Bech and Leonardo Gambacorta

387: Does US GDP stall?

Wai-Yip Alex Ho and James Yetman

386: The Social Value of Policy Signals

Stefan Avdjiev and Patrick McGuire

385: Ageing, property prices and money demand

Kiyohiko Nishimura and Elod Takats

384: The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis

Leonardo Gambacorta, Boris Hofmann and Gert Peersman

383: Public recapitalisations and bank risk: evidence from loan spreads and leverage

Michael Brei and Blaise Gadanecz

382: Risk-on/risk-off, capital flows, leverage and safe assets

Robert McCauley

381: Reassessing the impact of finance on growth

Stephen Cecchetti and Enisse Kharroubi

380: Characterising the financial cycle: don't lose sight of the medium term!

Mathias Drehmann, Claudio Borio and Kostas Tsatsaronis

379: When capital adequacy and interest rate policy are substitutes (and when they are not)

Stephen Cecchetti and Marion Kohler

378: Ensuring price stability in post-crisis Asia: lessons from the recovery

Andrew Filardo

377: Rapid credit growth and international credit: Challenges for Asia

Stefan Avdjiev, Robert McCauley and Patrick McGuire

376: Systemic risk in global banking: what can available data tell us and what more data are needed?

Eugenio Cerutti, Stijn Claessens and Patrick McGuire

375: Loan loss provisioning practices of Asian banks

Frank Packer and Haibin Zhu

374: A Comprehensive Look at Financial Volatility Prediction by Economic Variables

Charlotte Christiansen, Maik Schmeling and Andreas Schrimpf

373: Collateral requirements for mandatory central clearing of over-the-counter derivatives

Daniel Heller and Nicholas Vause

372: Inflation Dynamics in the Presence of Informal Labour Markets

Paul Castillo and Carlos Montoro

371: Stochastic Herding in Financial Markets Evidence from Institutional Investor Equity Portfolios

Makoto Nirei, Theodoros Stamatiou and Vladyslav Sushko

370: Credit at times of stress: Latin American lessons from the global financial crisis

Carlos Montoro and Liliana Rojas-Suarez

369: Stress-testing macro stress testing: does it live up to expectations?

Claudio Borio, Mathias Drehmann and Kostas Tsatsaronis

368: The sustainability of pension schemes

Srichander Ramaswamy

367: Is the long-term interest rate a policy victim, a policy variable or a policy lodestar?

Philip Turner

366: Currency Momentum Strategies

Lukas Menkhoff, Lucio Sarno, Maik Schmeling and Andreas Schrimpf

365: Was This Time Different?: Fiscal Policy in Commodity Republics

Luis Cespedes and Andrés Velasco

364: Perceptions and misperceptions of fiscal inflation

Eric Leeper and Todd Walker

363: The Liquidation of Government Debt

Carmen Reinhart and M. Belen Sbrancia

362: The "Austerity myth": Gain Without Pain?

Roberto Perotti

361: Long-term fiscal sustainability in major economies

Alan Auerbach

360: China's evolving reserve requirements

Guonan Ma, Yan Xiangong and Liu Xi