Research
Fed study finds there are no truly offline payment systems
Hybrid solutions mitigate some risks, say researchers
BLS revises US employment downward
Bureau says 818,000 fewer jobs were created over year to March than it had previously estimated
‘Reserve asset competition’ explains global fiscal cycle – paper
Local fiscal shocks can trigger debt issuance abroad, authors find
Lending spreads may dampen monetary policy – research
Rate hikes appear to have been muffled and cuts might be too, say Kansas City Fed authors
NY Fed chief unveils real-time reserves calculation framework
John Williams and fellow researchers cite five measures of reserves’ ampleness or scarcity
BoC paper offers monetary policy ‘decision synthesis’
Authors say model combination method helps capture complexities of decision-making
Growing divide between ethereum investors – Philadelphia Fed study
Paper claims returns disadvantage “minnows” more than would be case with conventional assets
Financial literacy quickens monetary policy reaction – study
Improving people’s knowledge of money matters could strengthen transmission
BIS paper links interest rate risk to bank lending supply
Monetary tightening affects bank lending more when “duration gap” is larger, authors find
Distribution of reserves determines QE and QT’s impact – BoE paper
Policies have ‘highly asymmetric’ impacts on reserve-scarce banks, researchers say
EMEs’ rising reserves increase global volatility – NBER study
Emerging economies’ accumulation of foreign assets has depressed global interest rate
Neural networks are ‘powerful tool’ for non-linear analysis – paper
Machine learning technique highlights downsides to inflation target ranges
US’s indirect reliance on Chinese goods rises – NY Fed research
Study finds country’s largest partners are importing increasing amounts of goods from China
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
Monetary policy has less impact on private credit – Fed research
Funding, ‘dry powder’ and fund returns for asset class remain high amid policy tightening
Grocery inflation caused by wages and raw goods prices – Fed study
Research comes as FTC launches inquiry into alleged price gouging by US retailers
Customer verifications have slashed fraud across Europe – ECB, EBA study
Problem greater in non-EEA countries with looser security requirements, says research
CBDCs amplify contractionary effects of monetary shocks – BoC paper
However, research finds no substantial change to transmission mechanism
US Helocs rise after years of decline – research
Study by Kansas City Fed warns balances are outsized compared with debt consolidation
NY Fed study documents widespread manufacturing slowdown
Firms of all sizes in industries across US are affected, according to research
US productivity may fuel interest rate divergence and dollar strength – Fed study
Business dynamism and financing conditions may explain lack of spillover into other advanced economies
BIS: new platform can monitor stablecoins’ balance sheets
Institution says its Project Pyxtrial can track digital currencies’ assets and liabilities
Higher inflation results in greater remittances to Pakistan – paper
Workers send more money to make up for erosion of real incomes in their home country
Stablecoin issuers pose short-term outflow risk to lenders – study
Research finds crypto assets weaken liquidity coverage ratios