|Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework|
Author/Editor: Luis Brandao-Marques, R G Gelos, Machiko Narita, Erlend Nier.
Release Date:July, 2020
This paper takes a new approach to assess the costs and benefits of using different policy toolsâ€”macroprudential, monetary, foreign exchange interventions, and capital flow managementâ€”in response more...
|Monetary Policy Transmission in Emerging Markets and Developing Economies|
Author/Editor: Luis Brandao-Marques, R G Gelos, Thomas Harjes, Ratna Sahay, Yi Xue.
Release Date:February, 2020
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the more...
|Capital Flows at Risk: Taming the Ebbs and Flows|
Author/Editor: R G Gelos, Lucyna Gornicka, Robin Koepke, Ratna Sahay, Silvia Sgherri.
Release Date:December, 2019
The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and more...
|Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database|
Author/Editor: Zohair Alam, Adrian Alter, Jesse Eiseman, R G Gelos, Heedon Kang, Machiko Narita, Erlend Nier, Naixi Wang.
Release Date:March, 2019
This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016. Using more...
|Has Higher Household Indebtedness Weakened Monetary Policy Transmission?|
Author/Editor: R G Gelos, Tommaso Mancini Griffoli, Machiko Narita, Federico Grinberg, Umang Rawat, Shujaat Khan.
Release Date:January, 2019
Has monetary policy in advanced economies been less effective since the global financial crisis because of deteriorating household balance sheets? This paper examines the question using household more...
|Can Countries Manage Their Financial Conditions Amid Globalization?|
Author/Editor: Nicolas Arregui, Selim Elekdag, R G Gelos, Romain Lafarguette, Dulani Seneviratne.
Release Date:January, 2018
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a more...
|Managing Economic Volatility in Latin America|
Author/Editor: R G Gelos.
Release Date:March, 2014
How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region more...
|Brazil's Long-Term Growth Performance—Trying to Explain the Puzzle|
Author/Editor: Ricardo Adrogué, Martin D Cerisola, R G Gelos.
Release Date:December, 2006
This paper assesses Brazil's growth performance from a long-term perspective, using crosscountry and panel estimation techniques, building on the vast empirical literature on growth. The empirical more...
|Consolidation and Market Structure in Emerging Market Banking Systems|
Author/Editor: R G Gelos, Jorge Roldos.
Release Date:November, 2002
This paper examines the evolution of market structure in emerging market banking systems during the 1990s. While significant bank consolidation has been taking place in these countries, reflected in more...