This paper examines the transmission of U.S. monetary policy shocks to bank lending in 12 Latin American countries between 2000 and 2020. Using data from 118 banks, we find evidence of an international bank lending channel, even in countries with low direct exposure to U.S. banks.
The financial health of oil-producing entities is closely tied to oil prices. Historical data shows that the profits of leading international oil corporations have fluctuated in correlation with global oil price volatility.
The objective of this working paper was to analyze the relationship between oil price volatility and economic growth, taking into account the unique characteristics of the region, including both oil-producing and net oil-importing countries, and comparing it with other regions of the world.
New working paper in academic journal | U.S. Monetary Policy Shocks and Bank Lending in Latin America: Evidence of an International Bank Lending Channel
This study utilizes weekly datasets on loan growth in Colombia to develop a daily indicator of credit expansion using a two-step machine learning approach.
Early warning systems represent a crucial asset for regulatory bodies and financial system overseers. While on-site monitoring stands out as a premier means through which authorities can glean both quantitative and qualitative insights into the fiscal well-being of the entities under scrutiny, the execution of such monitoring at a high frequency can incur substantial costs.
In 2023, the international context was characterized by lower economic growth than in the previous year in an environment of higher global interest rates. Consumer inflation remained above its target despite declines in most of the world’s economies.
The impact of integration on financial stability is a topic that has generated an extensive debate on its advantages and disadvantages. In our most recent study we revisit the debate on the effects of openness on financial stability.
FLARblog | What Happened to Integration and Financial Stability after the Global Financial Crisis? An Answer from Machine Learning
Instant Payments: The Present and Future of Payments in Latin America and the Caribbean
We are pleased to share with you the re-run of the session ‘Monetary Policy in Sudden Stop-Prone Economies’ by FLAR at the LACEA – LAMES 2023 annual meeting.
Press release | Joint IMF-RFAs press release on the 8th High-level RFA Dialogue
New Working Paper | U.S. Monetary Policy Shocks and Bank Lending in Latin America: Evidence of an International Bank Lending Channel
FLARblog | Does the U.S. Monetary Policy Shocks Affect Bank Lending in Latin America?
FLARblog | Latin America: A better than expected second quarter.
New working paper in academic journal | An Explained Extreme Gradient Boosting Approach for Identifying the Time-Varying Determinants of Sovereign Risk
FLARblog | Fiscal Resilience in a Post-Pandemic World: This time is not different.