We examine the characteristics and comovement of cycles in house prices, credit, real
activity and interest rates in advanced economies during the past 25 years, using a dynamic …

This paper investigates the key factors that explain the documented decline in the exchange
rate pass-through in South Africa over the past two decades, which coincides with the …

In 2021, Sub-Saharan Africa emerged from the recession, but its recovery is still timid and
fragile. The region is projected to grow at a rate of 3.3 percent-a weaker pace of recovery than …

This study identifies the main shocks that cause fluctuations in French output and their channels
of transmission. It uses a large-dimensional structural approximate dynamic factor model…

This paper evaluates the strength of the balance sheet channel in the US monetary policy
transmission mechanism over the past three decades. Using a Factor-Augmented Vector …

The prices of 27 internationally traded commodities are decomposed into transitory and
permanent shocks by applying an ideal band-pass filter to monthly data from 1970–2020. The …

The COVID-19-triggered collapse in oil prices in March and April 2020 was the seventh, and
by far the most severe, in a series of such collapses since 1970. This paper, first, compares …

Rapid growth among the major emerging markets over the past 20 years has boosted global
demand for commodities. The seven largest emerging markets accounted for almost all the …