This paper examines the extent to which digitalization—measured by a new proxy based on
IP addresses allocations per country—has influenced inflation dynamics in a sample of 36 …

The world has become more interconnected over the past few decades. Against this backdrop,
economic and financial contagion following adverse shocks can have a severe impact on …

Uphill capital flows constitute a key transmission channel through which reserve accumulation
can distort the stability of the international monetary system. This paper examines and …

What is the extent of currency diversification in the international monetary system? How has
it evolved over time? In this paper, we quantify the degree of currency diversification using …

This paper examines foreign exchange intervention practices and their effectiveness using
a new qualitative and quantitative database for a panel of 15 economies covering 2004-10, …

… Prepared by Gilbert Terrier, Rodrigo Valdes, and Camilo E. Tovar. By delaying exchange
rate adjustment, foreign exchange intervention may itself trigger more capital flows if it creates …

This paper documents developments in mortgage credit and the housing sector in Latin
America over the past decade, and compares them with those of other emerging economies. In …

Over the past two decades, most emerging market economies witnessed two key developments.
A marked process of financial integration with the rest of the world, arguably turning …

This paper reviews policy tools that have been used and/or are available for policy makers
in the region to lean against the wind and review relevant country experiences using them. …

Research suggests that the scale of human population and the current pace of its growth
contribute substantially to the loss of biological diversity. Although technological change and …