Issues of inflation measurement are fundamental to the conduct of monetary policy. Price indices form the foundation of central bank policy frameworks around the world. They serve as guides to decision-making, as well as providing the primary mechanism for holding independent policymakers...

Books reviewed: Joseph E. Stiglitz and Shahid Yusuf (eds) Rethinking the East Asian Miracle Hal Hill and Jo-o M. Saldanha, East Timor: Development Challenges for the World's Newest Nation Nat J. Colletta, Teck Ghee Lim and Anita Kelles-Viitanen (eds), Social Cohesion and Conflict Prevention in...

The experience of a number of central banks in emerging economies indicates that capital flows can pose a dilemma. For example, raising policy rates can attract more capital inflows by raising deposit rates. It has been suggested, however, that raising reserve requirements instead of the policy...

This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...

This is one of the contributions which is part of BIS Paper 68 and which was presented at the BIS-sponsored sessions at the Latin American and Caribbean Economic Association (LACEA) meetings in 2010-11, focusing on the drivers and effects of capital flows and the challenges they pose for the...

The size and maturity structure of the government debt market have important implications for monetary policy, especially in EMEs. This paper documents the remarkable growth of the market over the past decade in terms of size, issuance and maturity structure of combined government and central...

Recurrent capital inflows pose important challenges for authorities in emerging market economies seeking to preserve financial stability. Raising interest rates to dampen imbalances that could arise from capital flows can also attract more capital inflows and accentuate appreciation pressures....

Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

This paper analyses the effects of sterilised, intraday foreign exchange market operations (non-discretionary and discretionary) on foreign exchange returns and volatility in four inflation targeting economies in Latin America. The distribution of exchange rates during intervention and...