China has established its role as a major world lender, and policy changes affecting its external position would therefore have pronounced effects over a range of countries and on the global financial landscape in general. In this paper, I characterize China’s external asset holdings and macro...

Workshop Program: - Five facts about the UIP Premium; - The People vs the Markets: A Parsimonious Model of Inflation Expectations; - Global inflation, monetary policy and spillovers on EM; - The end of privilege: a reexamination of the net foreign asset position of the United States; - Are...

The economics of fiscal rules and debt sustainability. Government debt levels have increased dramatically since the outbreak of the pandemic. EU fiscal rules have been temporarily suspended, and the persisting low interest rate environment seems to remain favourable to loose fiscal policy. As...

Co-authores: Valeriya Dinger (University of Osnabrück and the Leeds University Business School), Ragnar Juelsrud (Norges Bank) and Karolis Liaudinskas (Norges Bank) In this paper, we investigate how trade shocks propagate to the real economy through banking sector. We exploit an exogenous trade...

Themes: Banking and financial stability; Climate change and sustainable finance; Inflation process; International finance and macroeconomics; Macrofinance; MP, frameworks, and communication; Payments and innovation.

ESSIM is an annual meeting that brings together about 75 economists from across Europe and key researchers from outside the region. It provides a unique opportunity for macroeconomists from different research institutions and countries to discuss research in a relaxed atmosphere and to develop...

Session 1. - Bank foreign currency hedging and the impact on covered interest parity, and Emerging Market perspective; - Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy; Session 2. - Are Collateral-Constraint Models Ready for Macroprudential...

The goal of this workshop is to gather academic contributions addressing recent Emerging Market Economies developments in the fields of Macroeconomics, International Trade and Finance. The scientific committee welcomes both empirical and theoretical contributions. Papers can in particular...

Conference program: Panel 1: Lessons being learned from the coronavirus (COVID-19) crisis; Panel 2: Climate change risk in financial markets; Panel 3: A changing clearing landscape.

The widespread use of dollars for invoicing international trade and pricing internationally traded goods and services has sharp implications for (i) the transmission of business cycle shocks, be they regional or global, and (ii) the conduct of stabilization policies. Much of the recent open...