Quantitative Easing and Tapering Uncertainty: Evidence from Twitter IJCB (2017-12-05)
In this paper we analyze the extent to which people’s changing beliefs about the timing of the exit from quantitative easing (“tapering”) affect asset prices. To quantify beliefs of market participants, we use data from .. more |
Household debt: recent developments and challenges BIS (2017-12-05)
The responsiveness of aggregate expenditure to shocks depends on the level and interest rate sensitivity (duration) of household debt, as well as on the liquidity of the assets it finances. Household-level spending adjus .. more |
Global imbalances from a stock perspective Bank of Spain (2017-12-05)
After the recent crisis, a reduction was observed in global current account ("flow") imbalances. Even so, global disequilibria as measured in terms of countries' net foreign assets ("stock imbalances") kept increasing. T .. more |