We analyse how movements in the components of sovereign bond yields in the United States affect long-term rates in 10 advanced and 21 emerging economies. The paper documents significant global spillovers from both the expectations and term premia components of long-term rates in the United...

We analyse how movements in the components of sovereign bond yields in the United States affect long-term rates in 10 advanced and 21 emerging economies. The paper documents significant global spillovers from both the expectations and term premia components of longterm rates in the United...

In this paper we consider the role of exchange rate risk in influencing local currency sovereign bond yields in emerging market economies (EMEs). We explicitly account for exchange rate expectations and uncertainty around them, as measured by exchange rate volatility. The analysis points to an...

This paper analyses various facets of the economic impact of globalisation in EMEs, focussing in particular on international trade and migration. It covers both aggregate (growth and inflation) and distributional (inequality, sectoral concentration) effects. The paper concludes with a discussion...

This paper discusses different facts and trends with regard to globalisation in emerging market economies (EMEs). It focuses primarily on the real (as opposed to financial) side of the economy over the last 2-3 decades, and highlights important similarities and differences across countries with...

We examine how inflation risks have changed over time in a large panel of advanced and emerging market economies (EMEs). Quantile regressions show a general decline in upside inflation risks over time, reflecting successful disinflationary processes and the adoption of inflation targeting...