Research
Yuan will not rival dollar for foreseeable future – Fed study
Figures show aggregate usage of currency lags behind that of euro, yen and pound
Lower-paid workers face greatest impact from AI – BIS paper
Risk of core skills being replaced, and jobs being lost, is higher for people on low incomes
Most eurozone countries pay high price for membership – study
Central Bank of Iceland research finds smaller states would be better off setting rates independently
Bank closures lead to job cuts at small businesses – Fed study
Research finds that if 25% of local branches close, employment growth falls by four percentage points
Wildfire pollution depresses home values and rents – study
Dallas Fed research finds effects extend to areas “thousands of miles” from where fires take place
Mortgage reforms, surprise rate hikes harm renters – ECB study
Researchers say young people could lose equivalent of 1% of their lifetime consumption
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