Inflation targeting is a monetary-policy strategy that is characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast and has been called forecast targeting, and a high degree of transparency and accountability....

Have bank regulatory policies and unconventional monetary policies--and any possible interactions--been a factor behind the recent "deglobalisation" in cross-border bank lending? To test this hypothesis, we use bank-level data from the UK--a country at the heart of the global financial system....

This paper investigates how a small country fares in an exchange-rate union if that country is subject to real and monetary disturbances originating at home and abroad. By joining a union, the country can fix the exchange rate between its currency and the currency of another country or...