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Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants and Disconnect

Author/Editor: Eugenio M Cerutti, Haonan Zhou.

Release Date:February, 2023

We provide a systematic empirical treatment of short-term Covered Interest Parity (CIP) deviations for a large set of emerging market (EM) currencies. EM CIP deviations have much larger volatilities more...



Price: $20.00
Climate Change in South Asia: Further Need for Mitigation and Adaptation

Author/Editor: Ruchir Agarwal, Vybhavi Balasundharam, Patrick Blagrave, Eugenio M Cerutti, Ragnar Gudmundsson, Racha Mousa.

Release Date:August, 2021

The South Asia region is both a large contributor to climate change and also one of the regions most vulnerable to climate change. This paper provides an overview of the region's vulnerabilities, more...



Price: $5.00
The Agricultural Exodus in the Philippines: Are Wage Differentials Driving the Process?

Author/Editor: Eugenio M Cerutti, Yiliang Li.

Release Date:August, 2021

Lagging labor reallocations outside agriculture amid sustained low agricultural productivity have been a key feature in the Philippines over the past 15 years. An analysis of the labor adjustments in more...



Price: $5.00
Banking Across Borders: Are Chinese Banks Different?

Author/Editor: Eugenio M Cerutti, Catherine Koch, Swapan-Kumar Pradhan.

Release Date:November, 2020

We explore the global footprint of Chinese banks and compare it with that of other bank nationalities. Chinese banks have become the largest cross-border creditors for almost half of all emerging more...



Price: $18.00
Why Did Public Banks Lend More During the Global Financial Crisis?

Author/Editor: Joshua Bosshardt, Eugenio M Cerutti.

Release Date:June, 2020

During the Global Financial Crisis (GFC), state-owned or public banks lent relatively more than domestic private banks in many countries. However, data limitations have hindered a thorough assessment more...



Price: $5.00
Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?

Author/Editor: Eugenio M Cerutti, Shan Chen, Pragyan Deb, Albe Gjonbalaj, Swarnali A Hannan, Adil Mohommad.

Release Date:November, 2019

The trade discussions between the U.S. and China are on-going. Not much is known about the shape and nature of a potential agreement, but it seems possible that it would include elements of managed more...



Price: $18.00
US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?

Author/Editor: Eugenio M Cerutti, Carolina Osorio Buitron.

Release Date:September, 2019

This paper analyzes the drivers of cross-border bank lending to 49 Emerging Markets (EMs) during the period 1990Q1-2014Q4, by assessing the impact of monetary, financial and real sector shocks in more...



Price: $18.00
Covered Interest Parity Deviations: Macrofinancial Determinants

Author/Editor: Eugenio M Cerutti, Maurice Obstfeld, Haonan Zhou.

Release Date:January, 2019

For about three decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely—even as a broad macroeconomic relationship applying to daily or weekly more...



Price: $18.00
China's Bond Market and Global Financial Markets

Author/Editor: Eugenio M Cerutti, Maurice Obstfeld.

Release Date:December, 2018

A cross-country comparative analysis shows that there is substantial room for further integration of China into global financial markets, especially in the case of the international bond market. A more...



Price: $18.00
Cross-border Banking and the Circumvention of Macroprudential and Capital Control Measures

Author/Editor: Eugenio M Cerutti, Haonan Zhou.

Release Date:September, 2018

We analyze the joint impact of macroprudential and capital control measures on cross-border banking flows, while controlling for multidimensional aspects in lender-and-borrower-relationships (e.g., more...



Price: $18.00
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