Public governance of central banks: an approach from new institutional economics

the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS. Copies

Publicado también en alemán, francés, inglés e italiano. Este Informe puede consultarse en la página del BPI en Internet (www.bis.org).Índice Carta de presentación........................................... 1 Resumen de los capítulos económicos........................ 3 I. Más allá del rescate: salir de cuidados intensivos y concluir las reformas............................................ 7 Servicio de urgencias: respuesta inicial a la crisis.......................... 8 Cuidados intensivos: el problema de los efectos secundarios................ 9 Diagnóstico: identificar las causas de la crisis............................. 11 Causas microeconómicas.......................................... 11 Causas macroeconómicas......................................... 12 Solucionar las causas de la crisis........................................ 13 Tratamiento: reducir el riesgo de las exposiciones comunes y de los vínculos..................................................... 14 Reducir el riesgo de quiebras individuales........................... 14 Reducir la probabilidad de un fallo sistémico......................... 17 Tratamiento: reducir la prociclicidad..................................... 20 Reformas: principales áreas pendientes de reforma........................ 21

Available on the BIS website (www.bis.org).Contents

Guide to the international financial statistics This document is the revised version of BIS Papers No 14, Guide to the international financial statistics, February 2003.

the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS. Copies

The international propagation of the financial crisis of 2008 and a comparison with

of England and the rise of the dollar as an international currency, 1914-39

the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS. Copies

News driven business cycles and data on asset prices in estimated DSGE models