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Conference Paper
A model of the lender of last resort
Conference Paper
The international transmission of asset price volatility
Conference Paper
Asset prices, financial conditions and the transmission of monetary policy
In this paper we assess the role of asset prices as information variables for aggregate demand conditions and in the transmission of monetary policy. A Monetary Conditions Index, a weighted average of the short-term interest rate and the exchange rate, has commonly been used as a composite measure of the stance of monetary policy and aggregate demand conditions. However, other asset prices, property and share prices, also affect aggregate demand. By looking at reduced form coefficient estimates and VAR impulse responses we derive Financial Conditions Indices, a weighted average of the ...
Conference Paper
Crises : the price of globalization : commentary
Journal Article
Panel discussion II: safeguarding good policy practice
Conference Paper
The international dimension of financial regulation
Conference Paper
Liquidity management