Research
The Netherlands Bank overhauls nowcasting model
Economic dynamics have become more complicated since the pandemic, economists say
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology
High Russian growth ‘extremely unlikely’ – Bank of Finland study
Reports shows labour shortages, capacity constraints are beginning to bite
US auto loan delinquencies focused in new lending – study
Lower credit standards and higher payments, not interest rates, are key contributing factors
Machine learning can improve inflation forecasts – IMF paper
Model for Japan is “easily interpretable” and overcomes some drawbacks of standard models
Banxico study points to knowledge gap in analysis of Fed policy
Examining “information shocks” can lead to better assessment of the impact of FOMC decisions
NBER paper seeks ‘canonical Hank model’
Early attempts at heterogeneous agent modelling led to implausible results, authors say
Crypto assets not fit for reserve purposes – World Bank study
Economists say central banks are unlikely to move into non-CBDC digital currencies “any time soon”
FDI more important than trade in boosting Chinese lending – paper
Banks' activities in emerging economies increase in line with direct investment, say researchers
More CCPs would not avert US Treasuries crisis – BIS study
However, economists say central clearing could still improve market functioning
Central banks face risks if they exceed their brief on global warming – IMF paper
Study says climate measures must be underpinned by legal mandate and not infringe on governments’ remits
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods
NBER paper reviews ‘state of the art’ climate modelling
Recent breakthroughs have increased accuracy and computational efficiency of IAMs
EM central banks, Chinese and Indian households going for gold
Financial products have made it easier to access precious metal – BdF research
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
House prices react rapidly to rates shocks – BIS paper
Monetary policy transmission stronger in US property market than previously thought, study argues
Cash use supporting ‘shadow economy’ in Slovakia – study
Central bank research points to “substantial” activity intended to avoid regulatory scrutiny
Phasing out coal-fired power could ultimately pay for itself – BdF paper
Authors say gains from lower operating and finance costs could compensate for outlay costs
LatAm rate hikes consistent with pre-Covid strategy – BIS paper
Region’s central banks did not become more hawkish during pandemic, researchers argue
China poses ‘risk of economic coercion’ – Belgian paper
National Bank of Belgium says trade with EU has shifted to more “strategic” goods
Phillips curve differs depending on labour market – Fed study
Research finds curve to be flat in normal markets and steep in tight ones
Credit expansion could dampen growth in EMEs – BIS bulletin
Shift in lending from manufacturing and into real estate is also affecting productivity
North Macedonia develops new DSGE model
Analytical tool to supplement existing models built in conjunction with CNB and IMF
Covid led to shift in cross-border payment flows – Brazilian study
Pandemic resulted in changes across sectors, instruments and types of economy