This paper presents the main findings of an International Banking Research Network
initiative examining the interaction between monetary policy and macroprudential policy in …

This paper studies the transmission of US monetary shocks across the globe by employing a
high-frequency identification of policy shocks and large VAR techniques, in conjunction with …

How does emerging markets'(EMs) monetary policy respond to global financial risk (GFR)
shocks? Despite the broad literature focusing on EM monetary policy dynamics, the existing …

We characterise the probability distributions of various types of gross capital flows
conditional on information contained in financial asset prices in a panel of emerging market …

This paper examines the spillover effect of global economic policy uncertainty (EPU) on
sovereign credit default swap (CDS) spreads in a sample of 21 countries. We use a …

We study how foreign financial developments influence the conditional distribution of
domestic GDP growth. We propose a method to account for foreign vulnerabilities using …

In line with recent policy discussions on the use of macroprudential policies (MPPs) to
respond to cross-border risks arising from capital flows, this paper tries to quantify which …

In the aftermath of the 2007–2009 global financial crisis, macroprudential policy and capital
flow management emerge as two popular sets of policy tools which can help countries …

We study the macroeconomic implications of non-bank financial institutions (NBFIs) in the
context of the 2022 UK gilt crisis and estimate the monetary policy spillovers of financial …

In this study, we estimate a Bayesian global vector autoregressive model to uncover the
effects of financial stress on output growth, inflation, and interest rates, accounting for …