Discussion paper DP17472 Uncertainty Shocks, Capital Flows, and International Risk Spillovers Ozge Akinci Emekli Sebnem Kalemli-Ozcan Albert Queralto 14 Jul 2022 International Finance Financial frictions Risk premia Time-varying uncertainty Intermediary asset pricing Financial spillovers Global financial cycle International Macroeconomics and Finance E32 E44 F41
Discussion paper DP17397 Excess Savings and Twin Deficits: The Transmission of Fiscal Stimulus in Open Economies Rishabh Aggarwal Adrien Auclert Matthew Rognlie Ludwig Straub 20 Jun 2022 International Macroeconomics and Finance Monetary Economics and Fluctuations E62 F32 F41
Discussion paper DP17338 Who Holds Sovereign Debt and Why It Matters Xiang Fang Bryan Hardy Karen Lewis 29 May 2022 Sovereign debt Investor demand Banks and non-banks Advanced economies and emerging markets Financial Economics International Macroeconomics and Finance F34 G11 G15 F41
Discussion paper DP17296 Information Frictions and News Media in Global Value Chains Ha Bui Zhen Huo Andrei Levchenko Nitya Pandalai-Nayar 11 May 2022 Information frictions Noise shocks Global value chains News media Fake news International Macroeconomics and Finance Monetary Economics and Fluctuations F41 F44
Discussion paper DP16244 Five Facts about the UIP Premium Sebnem Kalemli-Ozcan Liliana Varela 10 May 2022 Fama regression Excess return Risk premia Expectations Policy credibility International Macroeconomics and Finance Macroeconomics and Growth F21 F32 F41
Discussion paper DP17277 Sanctions and the Exchange Rate Oleg Itskhoki Dmitry Mukhin 4 May 2022 Exchange Rates Sanctions exchange rate Currency Capital flows Financial repression International Macroeconomics and Finance International Trade and Regional Economics Macroeconomics and Growth Monetary Economics and Fluctuations Political Economy E50 F31 F32 F41 F51
Discussion paper DP17248 Exchange Rate and Inflation under Weak Monetary Policy: Turkey Verifies Theory Refet Gürkaynak Burçin Kısacıkoğlu Sang Seok Lee 24 Apr 2022 Central bank independence Taylor principle Weak monetary policy Effective upper bound Currency crisis Inflation spirals Emerging markets Turkey International Macroeconomics and Finance Monetary Economics and Fluctuations E02 E31 E52 E58 F31 F41
Discussion paper DP17250 Endogenous Product Adjustment and Exchange Rate Pass-Through Andreas Freitag Sarah Lein 24 Apr 2022 Large exchange rate shocks Exchange rate pass-through quality adjustment International Macroeconomics and Finance International Trade and Regional Economics E3 E31 E50 F14 F41
Discussion paper DP17236 Causal Effects of Countercyclical Interest Rates: Evidence from the Classical Gold Standard 20 Apr 2022 Countercyclical interest rates Stabilization Gold standard Commodity lottery Economic History International Macroeconomics and Finance Monetary Economics and Fluctuations E32 E52 F33 F41 N10
Discussion paper DP17223 Improving Sovereign Debt Restructurings Maximiliano Dvorkin Juan M. Sanchez Emircan Yurdagul 15 Apr 2022 Crises Gdp-indexed debt Distribution of creditor losses Default Sovereign debt Maturity Restructuring Country risk International monetary fund International Macroeconomics and Finance F34 F41 G15
Discussion paper DP17119 A Preferred-Habitat Model of Term Premia, Exchange Rates, and Monetary Policy Spillovers Pierre-Olivier Gourinchas Walker Ray Dimitri Vayanos 18 Mar 2022 Exchange rates Interest rates monetary policy Limits of arbitrage Financial Economics International Macroeconomics and Finance Monetary Economics and Fluctuations E43 F41 G15
Discussion paper DP17054 Unequal expenditure switching: Evidence from Switzerland Raphael Auer Ariel Tomas Burstein Sarah Lein Jonathan Vogel 7 Mar 2022 International Macroeconomics and Finance International Trade and Regional Economics Monetary Economics and Fluctuations E3 F1 F41
