United States
Canada paper analyses China impact on Latin America
Bank of Canada study investigates the significance of Chinese and US GDP on the transmission mechanism of business cycles to Latin America
European Commission criticises Basel Committee findings
Assessment report finds EU and US ‘materially non-compliant’ with some areas of Basel framework; European Commission questions report’s methodology and use of evidence
Ukraine selects new economic department director
National Bank of Ukraine picks central bank veteran to lead economic department; predecessor left after hitting retirement age
NY Fed’s Dudley confident in QE3 benefits
President of NY Fed says third round of QE is needed to catalyse growth; says employment will improve faster as a result of the programme
ECB paper finds US foreign bondholdings rooted in past
ECB research examines the link between past and present levels of foreign bonds held by US investors; finds similar investment patterns for both
FDIC explores driving factors in community banking
Acting FDIC chairman Martin Gruenberg says the organisation will explore the factors behind community banking success and place a focus on services to small businesses
Fed paper evaluates asset purchase programmes
A Federal Reserve working paper says the central bank’s asset purchase programmes have lowered Treasury yields; uses market expectations to help judge impact
Fed’s beige book reveals increased economic activity
US Federal Reserve economic summary reports expanding economic activity in the US; credit conditions said to be improving
Draghi pulls out of Jackson Hole speech
President of the ECB stays in Europe on account of his “heavy workload”; statement comes shortly before plans for single banking supervision mechanism announced for eurozone
Dallas Fed research questions Chinese growth data
Economic letter uses proxy for industrial production to estimate Chinese growth; suggests official figures may understate the extent of the slowdown
IMF paper studies impact of US interest rates on sub-Saharan Africa
Working paper assesses degree to which exchange rates in sub-Saharan Africa respond to changes in US interest rates; finds movements depend on openness of capital account
ECB paper models economic impact of 'disaster risk'
Working paper finds expectations of severe recessions impact equity prices; effects feed through to the economy
China is entering crisis “danger zone”, says BoJ’s Nishimura
High real estate prices and an aging demographic profile in China are reaching a stage where they could trigger a financial crisis, says Bank of Japan deputy governor Kiyohiko Nishimura
Japan seeks changes to Dodd-Frank extraterritoriality on swaps
The Japanese authorities have asked their US counterpart to reconsider extraterritorial rules on swaps and defer regulation of cross-border over-the-counter derivatives regulation for at least a year
Fed paper investigates shackling credit-fuelled booms
Researchers at San Francisco Fed model asset-driven credit growth; find restrictions on household borrowing the most effective tool to reduce excess volatility
Boston Fed paper investigates uncertainty in interbank markets
Research examines role of uncertainty in causing the collapse of interbank lending markets; finds government intervention to provide information may help to restart lending
IMF paper studies monetary impact of household production
Working paper designs model that adds a household sector to the economy, which competes with firms in the service sector; finds this amplifies the transmission of monetary shocks
Bank of Israel paper says Europe is sub-optimal currency area
Research examines political problems with economic and monetary union in Europe; says Europe is a “dubious candidate” for an optimal currency area
CLS hires JP Morgan veteran as chief executive
David Puth, the former chair of the New York Fed's FX Committee, will become the next chief executive of CLS next week
Cleveland Fed researchers suggest moderate growth may persist
‘Economic Trends’ research highlights possibility of a slowdown in US trend rate of growth; economy shows modest version of previous recoveries
IMF paper finds evidence in favour of ‘Chicago Plan’
Researchers analyse benefits of requiring 100% reserve backing of bank deposits and lending financed by retained earnings; argue evidence supports four major advantages of plan
IMF paper assesses impact of monetary policy on inequality
Researchers study channels through which monetary policy affects income inequality in the US; find interest rate hikes cause increase in inequality
Bernanke stresses importance of Fed independence
Chairman of the Federal Reserve highlights provisions in place to safeguard independence of the US central bank; discusses common fiscal authority for Europe
National Bank of Belgium paper studies effect of shocks on US trade balance
Working paper analyses link between shocks to the marginal efficiency of investment and the US trade balance; argues this constitutes a significant element in forecasting US trade fluctuations