Embedded Files
Policy publications on fiscal risks, financial conditions, and monetary policy decision-making.
High public debt in the Americas: non-linear implications for risk premia and inflation expectations
High public debt in the Americas: non-linear implications for risk premia and inflation expectations
2026 · BIS Bulletin 133
With Rafael Guerra, Alejandrina Salcedo, Pablo Tomasini and Christian Upper.
High public debt and interest costs amplify the sensitivity of risk premia to fiscal deficits, and of short-term inflation expectations to risk premia. The findings underline the importance of fiscal discipline.
Monetary policy decision-making and communication under high uncertainty
Monetary policy decision-making and communication under high uncertainty
2025 · BIS Papers 163
Volume edited with Fernando Avalos and Ilhyock Shim. Survey chapter coauthored with Torsten Ehlers, Ilhyock Shim and Alexandre Tombini.
Survey evidence and central bank case studies examine scenario analysis, risk management and communication under high uncertainty.
Full volume (PDF) · Survey chapter in volume · Publication & citation · Policy brief
Financial conditions indices in Latin America
Financial conditions indices in Latin America
2025 · BIS Bulletin 113
With Rafael Guerra, Ilhyock Shim and Alexandre Tombini.
Financial conditions are an important channel of short-run monetary policy transmission in Latin America. This bulletin examines their evolution and explains why different financial conditions indices can give different signals.
Google Sites
Report abuse