Recent working papers

• Non-bank financial intermediaries and financial stability \w S Aramonte and H Shin, BIS working papers #972 [pdf]

• Constrained dealers and market efficiency \w W Huang, R Ranaldo & F Somogyi [pdf]

• An intermediation-based model of exchange rates \w S Malamud [pdf]

• Explaining monetary spillovers: the matrix reloaded \w J Kearns and D Xia , BIS working papers #757 [pdf]

• Intermediation markups and monetary policy passthrough \w S Malamud, Swiss Finance Institute Research Paper 16-15 [pdf]

• Debt-derisking \w J Cutura and G-P Parise, BIS working papers #757 [pdf]

• Persuasion by dimension reduction \w S Malamud [pdf]

Permanent working papers

• Has the pricing of stocks become more global? \w I Petzev and A Wagner, Swiss Finance Institute Research Paper 15-48, CEPR Discussion Paper DP10966 [pdf]

• Global asset allocation shifts \w T Kroencke and M Schmeling, BIS Working Paper 497 [pdf]

• Size and the profitability of momentum in international stock markets \w P Schmidt, U v Arx, A Wagner and A Ziegler Swiss Finance Institute Research Paper 15-29, CEPR Discussion Paper DP10804 [pdf]

• On the construction of common size, value and momentum factors in International Stock Markets: a guide with applications \w P Schmidt, U v Arx, A Wagner and A Ziegler Swiss Finance Institute Research Paper 10-58 [pdf]

• Long-run consumption risk and international stock returns: a century of evidence \w J Rangvid and M Schmeling CREATES Research paper 2009-57, latest draft 01/2011 [pdf]