Gaston Gelos

Bank for International Settlements

Deputy Director, Economic and Monetary Department

Centralbankplatz 2

Basel, 4002

Switzerland

http://https://www.bis.org/author/gaston_gelos.htm

Centre for Economic Policy Research (CEPR)

London

United Kingdom

SCHOLARLY PAPERS

34

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10,185

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Top 2,783

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354

CROSSREF CITATIONS

311

Scholarly Papers (34)

1.

The Global Financial Crisis: Explaining Cross-Country Differences in the Output Impact

IMF Working Paper No. 09/280
Number of pages: 20 Posted: 05 Jan 2010
International Monetary Fund (IMF), Bank for International Settlements, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 4,026 (5,060)
Citation 23

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Credit expansion, Cross country analysis, Developing countries, Economic forecasting, Economic growth, Emerging markets, Financial crisis, Financial systems, Fiscal policy, Flexible exchange rates, Global Financial Crisis 2008-2009, Trade

A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds

CESifo Working Paper Series No. 564, IMF Working Paper No. 00/198
Number of pages: 39 Posted: 05 Feb 2001
Eduardo Borensztein and Gaston Gelos
Inter-American Development Bank (IADB) and Bank for International Settlements
Downloads 1,168 (34,574)
Citation 2

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Mutual Funds, Contagion, Emerging Markets, Foreign Portfolio Investment, Herding, Financial Crises

A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds

IMF Working Paper No. 00/198
Number of pages: 36 Posted: 11 Aug 2009
Eduardo Borensztein and Gaston Gelos
Inter-American Development Bank (IADB) and Bank for International Settlements
Downloads 83 (567,358)

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Emerging markets, Stock markets, Investment, Financial crisis

A Panic-Prone Pack? The Behavior of Emerging Market Mutual Funds

Posted: 20 Sep 2002
Eduardo Borensztein and Gaston Gelos
Inter-American Development Bank (IADB) and Bank for International Settlements

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3.
Downloads 818 (57,862)
Citation 16

Transparency and International Investor Behavior

EFA 2003 Annual Conference Paper No. 325
Number of pages: 37 Posted: 03 Aug 2003
Gaston Gelos and Shang-Jin Wei
Bank for International Settlements and Columbia University - Columbia Business School, Finance
Downloads 528 (100,198)
Citation 4

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financial crises, transparency, portfolio investment, emerging markets, international investors, international financial architecture, contagion

Transparency and International Investor Behavior

IMF Working Paper No. 02/174
Number of pages: 39 Posted: 03 Feb 2006
Gaston Gelos and Shang-Jin Wei
Bank for International Settlements and Columbia University - Columbia Business School, Finance
Downloads 202 (282,354)
Citation 7

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financial crises transparency portfolio investment emerging markets international investors international financial architecture contagion

Transparency and International Investor Behavior

NBER Working Paper No. w9260
Number of pages: 37 Posted: 11 Oct 2002 Last Revised: 26 Oct 2022
Gaston Gelos and Shang-Jin Wei
Bank for International Settlements and Columbia University - Columbia Business School, Finance
Downloads 88 (546,757)
Citation 2

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4.

Banking Spreads in Latin America

IMF Working Paper No. 06/44
Number of pages: 31 Posted: 23 Mar 2006
Gaston Gelos
Bank for International Settlements
Downloads 537 (99,278)
Citation 1

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Banking spreads, financial intermediation

5.

International Mutual Funds, Capital Flow Volatility, and Contagion - A Survey

IMF Working Paper No. 11/92
Number of pages: 28 Posted: 02 May 2011
Gaston Gelos
Bank for International Settlements
Downloads 378 (149,935)
Citation 3

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Asset management, Bond markets, Capital flows, Emerging markets, Financial instruments, Financial risk, International capital markets, Investment, Transparency

6.
Downloads 359 (158,841)
Citation 13

Financial Market Spillovers in Transition Economies

Number of pages: 59 Posted: 26 Jun 2000
Gaston Gelos and Ratna Sahay
Bank for International Settlements and International Monetary Fund (IMF) - Developing Country Studies Division
Downloads 359 (157,587)
Citation 13

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Financial Market Spillovers in Transition Economies

Posted: 10 Apr 2001
Gaston Gelos and Ratna Sahay
Bank for International Settlements and International Monetary Fund (IMF) - Developing Country Studies Division

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transition, currency crises, contagion, financial spillover

7.

What Drives Inflation Expectations in Brazil?: An Empirical Analysis

IMF Working Paper No. 05/109
Number of pages: 23 Posted: 03 Mar 2006
Martin D. Cerisola and Gaston Gelos
International Monetary Fund (IMF) and Bank for International Settlements
Downloads 354 (161,254)
Citation 1

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Inflation, inflation expectations, inflation targeting, Brazil

8.

Brazil's Long-Term Growth Performance - Trying to Explain the Puzzle

IMF Working Paper No. 06/282
Number of pages: 23 Posted: 12 Jan 2007
Wellington Management Company, International Monetary Fund (IMF) and Bank for International Settlements
Downloads 242 (238,963)

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Economic growth, Brazil, Economic stabilization, Economic reforms, Economic models

Financial Liberalization, Credit Constraints, and Collateral: Investment in the Mexican Manufacturing Sector

IMF Working Paper No. 99/25
Number of pages: 41 Posted: 03 May 1999
Gaston Gelos and Alejandro M. Werner
Bank for International Settlements and International Monetary Fund (IMF)
Downloads 229 (250,969)

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investment, financial constraints, collateral, real estate, lending booms, panel data, fixed-effects tobit

Financial Liberalization, Credit Constraints, and Collateral: Investment in the Mexican Manufacturing Sector

Posted: 14 Mar 2002
Gaston Gelos and Alejandro M. Werner
Bank for International Settlements and International Monetary Fund (IMF)

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Obstacles to Disinflation: What is the Role of Fiscal Expectations?

IMF Working Paper No. 04/111
Number of pages: 35 Posted: 10 Aug 2004
Oya Celasun, Gaston Gelos and Alessandro Prati
International Monetary Fund (IMF) - Research Department, Bank for International Settlements and International Monetary Fund (IMF) - Research Department, Deceased
Downloads 133 (404,866)

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Disinflation, Credibility, Inflation inertia, Inflation dynamics, Expectations formation, Stabilization, Phillips Curve

Obstacles to Disinflation: What is the Role of Fiscal Expectations?

IMF Working Paper No. 04/111
Number of pages: 35 Posted: 15 Feb 2006
Oya Celasun, Gaston Gelos and Alessandro Prati
International Monetary Fund (IMF) - Research Department, Bank for International Settlements and International Monetary Fund (IMF) - Research Department, Deceased
Downloads 64 (658,799)

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Disinflation, stabilization, inflation dynamics, emerging markets, expectation formation

When in Peril, Retrench: Testing the Portfolio Channel of Contagion

IMF Working Paper No. 04/131
Number of pages: 35 Posted: 17 Sep 2004
CREI, Bank for International Settlements and National Bureau of Economic Research (NBER)World BankCentre for Economic Policy Research (CEPR)International Monetary Fund (IMF)University of Maryland - School of Public AffairsHarvard University, Harvard Kennedy School (HKS), Belfer Center for Science and International Affairs (BCSIA)Harvard University - Center for Business and GovernmentPeterson Institute for International Economics
Downloads 87 (550,724)

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Contagion, international investors, risk aversion, emerging markets, portfolio choice, financial crises

When in Peril, Retrench: Testing the Portfolio Channel of Contagion

IMF Working Paper No. 04/131
Number of pages: 35 Posted: 15 Feb 2006
Fernando Broner and Gaston Gelos
CREI and Bank for International Settlements
Downloads 65 (653,321)
Citation 1

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Contagion, risk aversion, emerging markets, portfolio choice, financial crises

When in Peril, Retrench: Testing the Portfolio Channel of Contagion

NBER Working Paper No. w10941
Number of pages: 36 Posted: 19 Dec 2004 Last Revised: 25 Nov 2022
CREI, Bank for International Settlements and National Bureau of Economic Research (NBER)World BankCentre for Economic Policy Research (CEPR)International Monetary Fund (IMF)University of Maryland - School of Public AffairsHarvard University, Harvard Kennedy School (HKS), Belfer Center for Science and International Affairs (BCSIA)Harvard University - Center for Business and GovernmentPeterson Institute for International Economics
Downloads 43 (793,084)
Citation 36

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12.

Sovereign Borrowing by Developing Countries: What Determines Market Access?

IMF Working Paper No. 04/221
Number of pages: 42 Posted: 09 Feb 2006
Gaston Gelos, Ratna Sahay and Guido Sandleris
Bank for International Settlements, International Monetary Fund (IMF) - Developing Country Studies Division and Johns Hopkins University - Paul H. Nitze School of Advanced International Studies (SAIS)
Downloads 189 (300,767)
Citation 42

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Sovereign debt, international capital markets, syndicated bank loans, bond markets, developing countries

Devaluation Expectations and the Stock Market: The Case of Mexico in 1994/95

IMF Working Paper No. 00/28
Number of pages: 43 Posted: 29 Jan 2006
affiliation not provided to SSRN, Bank for International Settlements and affiliation not provided to SSRN
Downloads 150 (367,400)

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Stock market, Mexican peso devaluations, event study, exchange rate exposure, credibility of exchange rate regimes, leading crisis indicators

Devaluation Expectations and the Stock Market: The Case of Mexico in 1994/95

IMF Working Paper No. 00/28
Posted: 27 Apr 2000
affiliation not provided to SSRN, Bank for International Settlements and affiliation not provided to SSRN

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Monetary Policy Transmission in Emerging Markets and Developing Economies

IMF Working Paper No. 20/35
Number of pages: 55 Posted: 18 Mar 2020
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund (IMF) - Developing Country Studies Division and International Monetary Fund (IMF)
Downloads 139 (390,752)
Citation 1

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Financial and Monetary Sector, Central bank independence, Nominal effective exchange rate, Monetary policy instruments, Exchange rate policy, Monetary Policy, Emerging markets, Exchange rate channel, Inflation targeting, Financial structure, WP, financial development, monetary policy framework, policy framework, Taylor rule, projection method

Monetary Policy Transmission in Emerging Markets and Developing Economies

CEPR Discussion Paper No. DP15931
Number of pages: 56 Posted: 31 Mar 2021
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund (IMF) - Developing Country Studies Division and International Monetary Fund (IMF)
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15.

Exchange-Rate Swings and Foreign Currency Intervention

IMF Working Paper No. 2022/158
Number of pages: 41 Posted: 10 Aug 2022
Andrew Filardo, Gaston Gelos and Thomas McGregor
Stanford University, Bank for International Settlements and International Monetary Fund (IMF)
Downloads 124 (426,148)

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Foreign exchange intervention, real exchange rates, equilibrium exchange rate, classical cycles, central banking, band spectrum regression.

16.

Leaning Against the Wind: A Cost-Benefit Analysis for an Integrated Policy Framework

IMF Working Paper No. 20/123
Number of pages: 60 Posted: 12 Aug 2020
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 120 (436,807)

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Monetary policy, Economic policy, Central banks, Macroprudential policies and financial stability, Nominal effective exchange rate, Macroprudential Policy, FX Interventions, Capital Flow Management, Cost-Benefit Analysis, WP, loss function, quantile, financial condition, MPM, quantiles

17.

Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database

IMF Working Paper No. 19/66
Number of pages: 58 Posted: 15 Apr 2019
University of Toronto - Rotman School of Management, International Monetary Fund, International Monetary Fund (IMF), Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and University of Oxford - Said Business School
Downloads 112 (459,961)
Citation 3

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Mortgages, Exchange rate policy, Reserve requirements, Household credit, Credit booms, Macroprudential policy, loan-to-value ratios, propensity score, LTV, policy action, reverse causality, endogeneity, appendix IV

18.
Downloads 110 (466,067)
Citation 12

Capital Flows at Risk: Taming the Ebbs and Flows

IMF Working Paper No. 19/279
Number of pages: 45 Posted: 23 Jan 2020
Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund, International Monetary Fund (IMF) - Developing Country Studies Division and International Monetary Fund (IMF)
Downloads 110 (468,648)
Citation 12

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Economic conditions, Exchange markets, Financial crises, Foreign exchange operations, Capital inflows, Capital flows, macroprudential policies, foreign-exchange intervention, capital controls, emerging markets, WP, policy action, capital flow, structural characteristic, inflow, medium term

Capital Flows at Risk: Taming the Ebbs and Flows

CEPR Discussion Paper No. DP15842
Number of pages: 49 Posted: 01 Mar 2021
Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund, International Monetary Fund (IMF) - Developing Country Studies Division and International Monetary Fund (IMF)
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19.

Is High Debt Constraining Monetary Policy? Evidence from Inflation Expectations

IMF Working Paper No. 2023/143
Number of pages: 33 Posted: 07 Jul 2023
International Monetary Fund - Monetary and Capital Markets Department, Bank of ItalyInternational Monetary Fund (IMF) - International Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF) and International Monetary Fund
Downloads 107 (475,404)

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Inflation expectations, monetary policy, fiscal dominance, debt

20.

Can Countries Manage Their Financial Conditions Amid Globalization?

IMF Working Paper No. 18/15
Number of pages: 45 Posted: 20 Feb 2018 Last Revised: 18 Nov 2021
International Monetary Fund (IMF), Johns Hopkins University - Department of Economics, Bank for International Settlements, International Monetary Fund and International Monetary Fund (IMF)
Downloads 98 (505,351)
Citation 1

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Monetary policy, Financial conditions, international policy transmission, Financial Markets and the Macroeconomy, General, General, General

21.

Country Transparency and the Global Transmission of Financial Shocks

IMF Working Paper No. 13/156
Number of pages: 39 Posted: 31 Jul 2013
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements and Universidad de la Republica
Downloads 98 (505,351)
Citation 3

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External shocks, Financial systems, Emerging markets, Stock markets, Bond markets, Transparency, Economic models, transparency, emerging markets, transmission of global financial shocks, bond, stock returns, equity markets, bond spreads, bond returns, financial economics, currency crisis, bonds, financial markets, stock markets, equity market, bond spread, bond markets, bond yields, currency crises, financial systems, financial market, sovereign bond, stock market, financial globalization, stock prices, international capital, financial stability, financial contagion, emerging markets stock, stock options, stock price, international financial markets, crowding out, currency risk, emerging mar

22.

Inflation Responses to Commodity Price Shocks - How and Why Do Countries Differ?

IMF Working Paper No. 12/225
Number of pages: 33 Posted: 01 Nov 2012
Yulia Ustyugova and Gaston Gelos
International Monetary Fund (IMF) and Bank for International Settlements
Downloads 89 (537,461)
Citation 6

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Commodity Prices, Pass-through, Phillips Curve, External Shocks, Governance, Inflation Targeting

23.

Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets

IMF Working Paper No. 15/277
Number of pages: 37 Posted: 28 Mar 2016
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 78 (581,889)

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Capital flows, emerging markets, mutual funds, flows, portfolio, bond, equity, portfolio flows, All Countries,

24.

Fixed Capital Adjustment: Is Latin America Different? Evidence from the Colombian and Mexican Manufacturing Sectors

IMF Working Paper No. 99/59
Number of pages: 35 Posted: 17 Jun 1999
Gaston Gelos and Alberto Isgut
Bank for International Settlements and University of Toronto
Downloads 62 (657,920)

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Investment, lumpiness, irreversibilities, nonconvexities, manufacturing, panel data

25.

Do Household Expectations Help Predict Inflation?

IMF Working Paper No. 2023/224
Number of pages: 32 Posted: 02 Nov 2023
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund and Independent
Downloads 50 (726,939)

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Inflation, inflation expectations, survey expectations, household expectations

26.

Has Higher Household Indebtedness Weakened Monetary Policy Transmission?

IMF Working Paper No. 19/11
Number of pages: 34 Posted: 13 Feb 2019
Bank for International Settlements, International Monetary Fund, International Monetary Fund (IMF), Johns Hopkins University, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 48 (739,715)

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Monetary policy, Consumption, transmission, households, real estate, leverage, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects), Consumer Economics: Empirical Analysis

27.

Transparency and International Portfolio Holdings

Number of pages: 52 Posted: 11 Aug 2004
Gaston Gelos and Shang-Jin Wei
Bank for International Settlements and Columbia University - Columbia Business School, Finance
Downloads 25 (920,739)
Citation 13
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Opacity, international portfolio investment

28.

Negative Interest Rate Policies: A Survey

CEPR Discussion Paper No. DP16016
Number of pages: 35 Posted: 14 May 2021
International Monetary Fund - Monetary and Capital Markets Department, Bank of ItalyInternational Monetary Fund (IMF) - International Capital Markets Department, Bank for International Settlements, International Monetary Fund and International Monetary Fund
Downloads 0 (1,168,535)
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29.

Leaning Against the Wind: An Empirical Cost-Benefit Analysis

CEPR Discussion Paper No. DP15693
Number of pages: 55 Posted: 11 Feb 2021
International Monetary Fund - Monetary and Capital Markets Department, Bank for International Settlements, International Monetary Fund (IMF) and International Monetary Fund (IMF)
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30.

Consolidation and Market Structure in Emerging Market Banking Systems

Posted: 02 Jan 2004
Gaston Gelos and Jorge E. Roldos
Bank for International Settlements and International Monetary Fund (IMF)

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Banking, market structure, competition, emerging markets, Panzar and Rosse methodology, contestability

31.

Leaders and Followers: Emerging Market Fund Behavior During Tranquil and Turbulent Times

Posted: 10 Jan 2003
Eduardo Borensztein and Gaston Gelos
Inter-American Development Bank (IADB) and Bank for International Settlements

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Emerging markets, crises, contagion, investor behavior

32.

Foreign Currency Debt in Emerging Markets: Firm-Level Evidence from Mexico

Posted: 16 Nov 2002
Gaston Gelos
Bank for International Settlements

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moral hazard, financial crises, hedging, exposure

33.

Fixed Capital Adjustment: Is Latin America Different?

Posted: 30 May 2002
Gaston Gelos and Alberto Isgut
Bank for International Settlements and University of Toronto

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34.

Irreversibilities in Fixed Capital Adjustment - Evidence from Mexican and Colombian Plants

Posted: 02 Apr 2002
Gaston Gelos and Alberto Isgut
Bank for International Settlements and University of Toronto

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Adjustment costs, investment, irreversibilities, plant-level evidence