The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Special Papers
Jul 2019
SP 16
Artificial intelligence (AI) is rapidly changing how the financial system is operated, taking over core functions because of cost savings and operational efficiencies. AI will assist both risk managers and microprudential authorities. It meanwhile...
Special Papers
Sep 2018
SP 15
Angela Antetomaso, Brunello Rosa and Nouriel Roubini
September 15th, 2008: financial services firm Lehman Brothers files for Chapter 11 bankruptcy protection, marking the largest default in U.S. history and the beginning of the Global Financial Crisis (GFC), the most severe episode of financial...
Special Papers
Apr 2018
SP 14
Eva Micheler and Anna Whaley
Technology changes society. Financial services and their regulation is not immune from this. Indeed, distributed ledger technology and artificial intelligence have the potential to change the way in which financial services are delivered and...
Special Papers
Nov 2017
SP 13
Artificial intelligence (AI) is rapidly changing how financial institutions are operated and regulated. The authors discuss the benefits and danger that AI may bring to the objectives of risk management and macroprudential supervision.
Special Papers
Jun 2017
SP 12
Paul De Grauwe, Yuemei Ji and Corrado Macchiarelli
Despite the partial realignment of European long-term government bonds after the crisis in 2012, there has been some renewed divergence in yields in the last years. We analyse the sources of these divergences and find that the government bond...
Special Papers
Jan 2016
SP 11
This special paper discusses the inclusion of the Chinese Renminbi in the international reserve asset Special Drawing Right (SDR) created by the International Monetary Fund. 
Special Papers
Oct 2015
SP 10
Eddie Gerba and Corrado Macchiarelli
The European Union has pursued a number of initiatives to create a safer and sounder financial sector for the single market. In parallel, bold unconventional monetary policies have been implemented in order to combat low inflation, foster risk...
Special Papers
Oct 2015
SP 9
Eddie Gerba and Corrado Macchiarelli
In March, the Eurosystem started to purchase on the secondary market euro-denominated bonds issued by governments, agencies and European institutions. The total amount of bond purchases is estimated to 1.14 trillion EUR until September 2016, or 60...
Special Papers
Aug 2015
SP 8
Sebastien Lleo and Bill Ziemba
Financial disasters to hedge funds, bank trading departments and individual speculative traders and investors seem to always occur because of non-diversification in all possible scenarios, being overbet and being hit by a bad scenario. Black swans...
Special Papers
Jan 2015
SP 7
Malcolm Knight and Guillermo Ortiz
The 2007/9 crisis and the ongoing transformation of the global economy call for a rethink of the scope of the Fund’s multilateral surveillance. This paper first reviews the reforms already undertaken in response to the crisis as a basis for...