Bank intermediation activity in a low interest rate environment BIS (2019-09-03)
This paper investigates how the prolonged period of low interest rates affects bank intermediation activity. We use data for 113 large international banks headquartered in 14 major advanced economies during the period 19 .. more |
Exchange Rate Pass-Through: What Has Changed Since the Crisis? IJCB (2019-09-03)
We study how exchange rate pass-through to CPI inflation has changed since the global financial crisis. We have three main findings. First, exchange rate pass-through in emerging economies decreased after the financial c .. more |
On Secular Stagnation in the Industrialized World NBER (2019-09-03)
We argue that the economy of the industrialized world taken as a whole is currently - and for the foreseeable future will remain - highly prone to secular stagnation. But for extraordinary fiscal policies, real interest .. more |