Boris Hofmann

Bank for International Settlements (BIS) - Monetary and Economic Department

Centralbahnplatz 2

CH-4002 Basel

Switzerland

SCHOLARLY PAPERS

34

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198

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Scholarly Papers (34)

1.

Forward Guidance at the Zero Lower Bound

BIS Quarterly Review March 2014
Number of pages: 17 Posted: 23 Jun 2014
Andrew J. Filardo and Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 825 (27,986)

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2.

The Determinants of Private Sector Credit in Industrialised Countries: Do Property Prices Matter?

BIS Working Paper No. 108
Number of pages: 39 Posted: 13 Dec 2005
Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 770 (30,774)

Abstract:

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3.

The Influence of Monetary Policy on Bank Profitability

BIS Working Paper No. 514
Number of pages: 36 Posted: 02 Oct 2015
Bank for International Settlements (BIS) - Research and Policy Analysis, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 589 (44,147)

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monetary policy, bank profitability, financial crisis

4.

Bank Lending and Property Prices: Some International Evidence

HKIMR Working Paper No. 22/2003
Number of pages: 20 Posted: 23 Aug 2007
Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 580 (45,024)

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5.

Deflation, Credit and Asset Prices

HKIMR Working Paper No. 13/2003
Number of pages: 26 Posted: 27 Aug 2007
Charles Goodhart and Boris Hofmann
London School of Economics & Political Science (LSE) - Financial Markets Group and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 535 (49,907)

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6.

Taylor Rules and Monetary Policy: A Global 'Great Deviation'?

BIS Quarterly Review September 2012
Number of pages: 13 Posted: 24 Jan 2013
Boris Hofmann and Bilyana Bogdanova
Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 463 (59,871)

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7.

Default, Credit Growth, and Asset Prices

IMF Working Paper No. 06/223
Number of pages: 44 Posted: 31 Oct 2006
International Monetary Fund (IMF) - Monetary and Financial Systems Department, Bank for International Settlements (BIS) - Monetary and Economic Department and London School of Economics & Political Science (LSE) - Financial Markets Group
Downloads 416 (68,147)

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Probability of default, credit risk, systemic risk, macroeconomic shocks, stress testing, financial surveillance

8.

The Costs of Deflations: A Historical Perspective

BIS Quarterly Review March 2015
Number of pages: 24 Posted: 01 Apr 2015
Bank for International Settlements (BIS) - Research and Policy Analysis, Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 361 (80,546)

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9.

Is Monetary Policy Less Effective When Interest Rates are Persistently Low?

BIS Working Paper No. 628
Number of pages: 33 Posted: 29 Apr 2017
Claudio E. V. Borio and Boris Hofmann
Bank for International Settlements (BIS) - Research and Policy Analysis and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 322 (91,694)

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monetary policy, low interest rates, balance-sheet recession, monetary transmission

10.
Downloads 295 (100,875)

House Prices, Money, Credit and the Macroeconomy

ECB Working Paper No. 888
Number of pages: 45 Posted: 07 May 2008
Charles Goodhart and Boris Hofmann
London School of Economics & Political Science (LSE) - Financial Markets Group and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 295 (100,362)

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House prices, wealth effects, collateral, financial liberalisation, money and credit

11.

Central Bank Asset Purchases and Inflation Expectations

BIS Quarterly Review March 2013
Number of pages: 13 Posted: 11 Apr 2013
Boris Hofmann and Feng Zhu
Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 217 (138,192)

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12.

Gauging the Effectiveness of Quantitative Forward Guidance: Evidence from Three Inflation Targeters

ECB Working Paper No. 1098
Number of pages: 44 Posted: 20 Oct 2009
Magnus Andersson and Boris Hofmann
European Central Bank (ECB) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 211 (141,981)

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Monetary policy, transparency, central bank communication, forward guidance, term structure of interest rates

13.

The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis

BIS Working Paper No. 384
Number of pages: 32 Posted: 02 Oct 2012
Leonardo Gambacorta, Boris Hofmann and Gert Peersman
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department and Ghent University-Universiteit Gent - Department of Financial Economics
Downloads 205 (145,807)

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unconventional monetary policy, zero lower bound, panel VARs

14.

Sovereign Yields and the Risk-Taking Channel of Currency Appreciation

BIS Working Paper No. 538
Number of pages: 47 Posted: 19 Jan 2016
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 202 (147,844)

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bond spread, capital flow, credit risk, emerging market, exchange rate

Monetary Policy, Housing Booms and Financial (Im) Balances

ECB Working Paper No. 1178
Number of pages: 68 Posted: 26 Apr 2010
Sandra Eickmeier and Boris Hofmann
Deutsche Bundesbank and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 166 (176,633)

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Monetary policy, asset prices, housing, private sector balance sheets, financial crisis, factor model

Monetary Policy, Housing Booms and Financial (Im)Balances

Bundesbank Series 1 Discussion Paper No. 2010,07
Number of pages: 80 Posted: 08 Jun 2016
Sandra Eickmeier and Boris Hofmann
Deutsche Bundesbank and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 15 (561,920)

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Monetary policy, asset prices, housing, private sector balance sheets, financial crisis, factor model

Macroeconomic Fluctuations and Bank Lending: Evidence for Germany and the Euro Area

Bundesbank Discussion Paper Series No. 34/2006
Number of pages: 52 Posted: 22 Aug 2006
Sandra Eickmeier, Boris Hofmann and Andreas Worms
Deutsche Bundesbank, Bank for International Settlements (BIS) - Monetary and Economic Department and Deutsche Bundesbank, Economics Department
Downloads 166 (176,633)

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Business cycle fluctuations, bank lending, SVAR model, sign restrictions

Macroeconomic Fluctuations and Bank Lending: Evidence for Germany and the Euro Area

Bundesbank Series 1 Discussion Paper No. 2006,34
Number of pages: 52 Posted: 08 Jun 2016
Sandra Eickmeier, Boris Hofmann and Andreas Worms
Deutsche Bundesbank, Bank for International Settlements (BIS) - Monetary and Economic Department and Deutsche Bundesbank, Economics Department
Downloads 4 (636,784)

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Business cycle fluctuations, bank lending, SVAR model, sign restrictions

17.

International Monetary Spillovers

BIS Quarterly Review September 2015
Number of pages: 14 Posted: 18 Sep 2015
Boris Hofmann and Előd Takáts
Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 136 (208,018)

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18.

Monetary Policy Reaction Functions: ECB Versus Bundesbank

ZEI Working Paper No. B03-24
Number of pages: 21 Posted: 28 Dec 2003
Bernd Hayo and Boris Hofmann
University of Marburg - School of Business & Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 129 (216,988)

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Taylor rule, monetary policy, ECB, Bundesbank

19.

Base Rate Pass-Through: Evidence from Banks' and Building Societies' Retail Rates

Bank of England Working Paper No. 170
Number of pages: 42 Posted: 04 Jun 2003
Paul Mizen and Boris Hofmann
University of Nottingham and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 121 (227,759)

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20.

Comparing Monetary Policy Reaction Functions: ECB Versus Bundesbank

Marburg Economics Working Paper No. 02-2005
Number of pages: 23 Posted: 28 Apr 2005
Bernd Hayo and Boris Hofmann
University of Marburg - School of Business & Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 116 (235,022)

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Taylor rule, monetary policy, ECB, Bundesbank

21.
Downloads 98 (264,198)

Understanding Global Liquidity

BIS Working Paper No. 402
Number of pages: 36 Posted: 12 Apr 2013
Deutsche Bundesbank, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 76 (312,277)

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global liquidity, monetary policy, credit supply, credit demand, international business cycles, factor model, sign restrictions

Understanding Global Liquidity

Bundesbank Discussion Paper No. 03/2013
Number of pages: 40 Posted: 21 Jun 2016
Deutsche Bundesbank, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 22 (517,277)

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global liquidity, monetary policy, credit supply, credit demand, international business cycles, factor model, sign restrictions

22.

The Rise of Zombie Firms: Causes and Consequences

BIS Quarterly Review Spetember 2018
Number of pages: 12 Posted: 30 Nov 2018
Ryan Banerjee and Boris Hofmann
Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 94 (271,418)

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Monetary Policy Transmission and Trade-Offs in the United States: Old and New

BIS Working Paper No. 649
Number of pages: 43 Posted: 03 Jul 2017
Boris Hofmann and Gert Peersman
Bank for International Settlements (BIS) - Monetary and Economic Department and Ghent University-Universiteit Gent - Department of Financial Economics
Downloads 71 (324,844)

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Monetary policy trade-offs, monetary transmission mechanism, inflation, credit, house prices

Monetary Policy Transmission and Trade-Offs in the United States: Old and New

CESifo Working Paper Series No. 6745
Number of pages: 39 Posted: 16 Jan 2018
Boris Hofmann and Gert Peersman
Bank for International Settlements (BIS) - Monetary and Economic Department and Ghent University-Universiteit Gent - Department of Financial Economics
Downloads 22 (517,277)

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monetary policy trade-offs, monetary transmission mechanism, inflation, credit, house prices

The Macroeconomic Effects of Asset Purchases Revisited

BIS Working Paper No. 680
Number of pages: 24 Posted: 20 Dec 2017
Henning Hesse, Boris Hofmann and James Weber
Goethe University Frankfurt, Bank for International Settlements (BIS) - Monetary and Economic Department and Deloitte & Touche GmbH
Downloads 48 (395,193)

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unconventional monetary policy, asset purchases, monetary transmission

The Macroeconomic Effects of Asset Purchases Revisited

SAFE Working Paper No. 198
Number of pages: 25 Posted: 14 Feb 2018
Henning Hesse, Boris Hofmann and James Weber
Goethe University Frankfurt, Bank for International Settlements (BIS) - Monetary and Economic Department and Deloitte & Touche GmbH
Downloads 28 (481,595)

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unconventional monetary policy, asset purchases, monetary transmission

25.

Do Monetary Indicators Lead Euro Area Inflation?

ECB Working Paper No. 867
Number of pages: 51 Posted: 26 Feb 2008
Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 73 (316,414)

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Euro area, inflation, leading indicators, money

26.

Monetary Analysis and the Global Financial Cycle: An Asian Central Bank Perspective

BIS Working Paper No. 463
Number of pages: 41 Posted: 12 Sep 2014
Andrew J. Filardo, Hans Genberg and Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department, University of Geneva - Graduate Institute of International Studies (HEI) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 68 (328,812)

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central bank mandates, financial cycle, financial inclusion, globalisation, managed exchange rates, monetary analysis, monetary policy frameworks, emerging Asia

27.
Downloads 54 (368,849)

Time Variation in U.S. Wage Dynamics

ECB Working Paper No. 1230
Number of pages: 41 Posted: 24 Jul 2010
Boris Hofmann, Gert Peersman and Roland Straub
Bank for International Settlements (BIS) - Monetary and Economic Department, Ghent University-Universiteit Gent - Department of Financial Economics and European Central Bank (ECB)
Downloads 32 (460,924)

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technology shocks, second-round e¤ects, Great Inflation

Time Variation in U.S. Wage Dynamics

CESifo Working Paper Series No. 3291
Number of pages: 37 Posted: 12 Jan 2011
Boris Hofmann, Gert Peersman and Roland Straub
Bank for International Settlements (BIS) - Monetary and Economic Department, Ghent University-Universiteit Gent - Department of Financial Economics and European Central Bank (ECB)
Downloads 22 (517,277)

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technology shocks, second-round effects, Great Inflation

28.

Bond Risk Premia and the Exchange Rate

BIS Working Paper No. 775
Number of pages: 35 Posted: 19 Mar 2019
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 51 (378,257)

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Bond Spread, Capital Flow, Credit Risk, Emerging Market, Exchange Rate

29.

Monetary Facts Revisited

BIS Working Paper No. 566
Number of pages: 39 Posted: 07 Jun 2016
Pavel Gertler and Boris Hofmann
National Bank of Slovakia and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 41 (413,247)

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quantity theory, credit growth, financial crises

30.

Is There a Debt Service Channel of Monetary Transmission?

BIS Quarterly Review, December 2017
Number of pages: 15 Posted: 11 Dec 2017
Boris Hofmann and Gert Peersman
Bank for International Settlements (BIS) - Monetary and Economic Department and Ghent University-Universiteit Gent - Department of Financial Economics
Downloads 38 (424,985)

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31.

FX Intervention and Domestic Credit: Evidence from High-Frequency Micro Data

BIS Working Paper No. 774
Number of pages: 36 Posted: 19 Mar 2019
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Central Bank of Colombia
Downloads 17 (529,726)

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FX Intervention, Credit Registry, Emerging Markets, Financial Channel of Exchange Rates

32.

Do Monetary Indicators (Still) Predict Euro Area Inflation?

Bundesbank Series 1 Discussion Paper No. 2006,18
Number of pages: 56 Posted: 08 Jun 2016
Boris Hofmann
Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 4 (609,026)

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euro area, inflation, leading indicators, money

33.

Do SVARs with Sign Restrictions Not Identify Unconventional Monetary Policy Shocks?

BIS Working Paper No. 788
Number of pages: 23 Posted: 24 Jun 2019
National Bank of Belgium, European Central Bank (ECB) - Directorate General Economics, Banco de España, Bank for International Settlements (BIS) - Monetary and Economic Department and Ghent University-Universiteit Gent - Department of Financial Economics
Downloads 1

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34.

Do Asset Prices Help to Predict Consumer Price Inflation?

Manchester School, Vol. 68, No. 5
Posted: 05 Jun 2001
Charles Goodhart and Boris Hofmann
London School of Economics & Political Science (LSE) - Financial Markets Group and Bank for International Settlements (BIS) - Monetary and Economic Department

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