Research
Investors price in sanctions risk for US equities – study
NY Fed authors say geoeconomic risk driven by firms’ exposure to sanctioned countries’ supply chains
AI not having major impact on US graduate jobs – study
NBER researchers say changes in employment market are not statistically significant
Rising defence spending could boost European growth – ECB
But macroeconomic benefits depend on cutting personnel costs and imports
China’s machinery and transport exports are hurting EU – ECB paper
Similarity between EU and Chinese goods exports has increased since 2019, research finds
BIS economists take aim at crypto industry data
Central banks should consider blockchain stats ‘noisy approximations’ of actual economic activity
Populism casts long shadow over central bank policy – NBER paper
Countries with history of monetary financing make extra effort to show anti-inflationary credentials
Strait of Hormuz is top barometer of supply stress – BIS study
Impact of traffic disruption through other waterways neither as consistent nor as global
Dollar losing ‘convenience yield’ outside US – NBER paper
US-based investors favouring repo over Treasuries, authors find
Geopolitical tensions raising rate hike expectations – BIS
Quarterly review highlights new communication challenges for central banks
SNB’s hikes swing expectations, but its cuts do not – study
Swiss households respond to tightening and holding, but loosening fails to shift views
De-dollarisation no guarantee of EM policy autonomy – study
Sarb paper argues sound domestic fundamentals are more crucial than lowering dollar usage
Tolerating overshooting inflation helps decarbonisation – study
Policy committed to stabilising output is best suited to green transition, say Bundesbank economists
Zombie firms in Asian EMEs cause disinflation in AEs – study
Spillover is transmitted to advanced economies via trade channels, BIS report says
Demand for excess reserves goes beyond price signals – BIS paper
Study shows drivers for banks include payment flow volatility and cost of borrowing
BoK finds market infrastructure rules affect stablecoin and FX moves
Access to FX and crypto markets bears on won internationalisation efforts
Dollar’s decline has been overstated, says NY Fed study
Fall in greenback’s share of FX reserves driven by concentrated drop among small number of states
Ample reserves can yield highest welfare – BoE paper
Central banks face trade-off between financial stability and resource misallocation, author says
Central bank credibility not just about legislation – paper
NBER researchers say once independence has been granted, trust still has to be earned
Colombian reserve requirements impact settlement timing – paper
Cut contributed to ‘pronounced shift’ towards late-day settlement, authors say
Exim shutdown stymied US firms’ export earnings – paper
Shutting down export credit agency led to large capital misallocation, Atlanta Fed researchers say
Economists design stress-test model of dominant currency
Geopolitical shocks can disrupt its hegemony, but dollar remains secure, NBER paper finds