This paper studies the transmission of the Global Financial Cycle (GFC) to domestic credit
market conditions in a large emerging market, Turkey, over 2003–13. We use administrative …

This paper presents the novel results from an internationally coordinated project by the
International Banking Research Network (IBRN) on the cross-border transmission of …

The response of major central banks to the global financial crisis has revived the debate
around the interactions between monetary policy (MP) and bank stability. This technical …

We propose a new quantile regression framework to predict the entire future probability
distribution of capital flows to emerging markets, based on changes in global financial …

House prices and exchange rates can potentially amplify the expansionary effect of capital
inflows. We first set up a model of collateralized borrowing in domestic and foreign currency …

This paper evaluates the international spillover effects of large-scale asset purchases
(LSAPs) using an estimated two-country dynamic stochastic general-equilibrium model with …

This paper evaluates the popular view that quantitative easing exerts greater international
spillovers than conventional monetary policies. We employ a novel approach to compare the …

The risk sensitivity of international capital flow pressures is explored using a new Exchange
Market Pressure index that combines pressures observed in exchange rate adjustments with …

We empirically test if the US President Donald Trump's rhetoric towards Russia (represented
by his Russia-related tweets) affects ruble's exchange rate. Using three-stepped empirical …

Pressures on currencies manifest in exchange rate adjustments and international capital
flows, and can also be offset by policy responses. This paper presents a theory-based …