Research
Bond market contagion permanently increased in Emu, says Czech paper
Czech National Bank research investigates increased contagion of sovereign bond markets in European Monetary Union; evaluates impact of rating agencies
Spillovers at ‘zero lower-bound’ examined by BoE paper
Bank of England study investigates how monetary policy decisions by large countries in low interest-rate environments affect the ability of small economies to stimulate demand
Fed paper studies impact of fiscal reform within a monetary union
Research published by the Federal Reserve considers the effects of a unilateral shift in taxation policy within a monetary union and finds that risk of spillovers only comes with full integration
IMF paper considers risks to sovereign assets
Study by IMF discusses benefits of sovereign asset and liability management frameworks; finds they help account for correlations between separate indicators
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
Greek paper emphasises differing eurozone conditions
Research by the Bank of Greece analyses the financial conditions of countries in the eurozone; finds differences pre- and post-crisis
Early-warning indicators useful in emerging markets, says Finland paper
Bank of Finland study applies advanced economies' asset price indicators to emerging markets, saying they can be effective with only slight adjustment
IMF paper considers monetary union risks
Research published by the IMF compares the trading benefits and stability costs of entering a monetary union; highlights flaws in Emu set-up
ECB paper examines ability of central banks to tackle dual liquidity crises
ECB study investigates how different monetary regimes impact on the ability of central banks to contain dual liquidity crises; finds less interference equates to more action
Colombian paper probes predictive power of expectations
Central Bank of Colombia study investigates the accuracy of exchange rate expectations during the past nine years; finds discrepancy between short and long term
BoE review estimates OTC margin requirements could hit $800bn
Bank of England review models the effect of OTC reforms on margin requirements; anticipates slow adaptation
Contractionary monetary policy increases wealth spread, says Philadelphia Fed paper
Philadelphia Fed study considers impact of contractionary monetary policy shocks on different segments of the population; finds imbalance between the wealthiest and others
IMF paper examines eurozone current account imbalances
IMF study investigates causes of current account deficits in some eurozone countries; weighs up internal and external factors
Sarb paper establishes new inflation measure
South African Reserve Bank research reveals alternative measure of core inflation; designed to remove elements of ‘noise’
San Francisco paper studies effect of crisis on potential output
Federal Reserve Bank of San Francisco study examines US output potential; distinguishes between long-running trends and consequences of financial crisis
IMF paper finds regulation will not damage economy
Research released by IMF finds banks can adapt to regulatory reforms without hurting the economy; higher lending rates are a price worth paying
Monetary easing does not prompt crisis recovery, says BIS paper
Paper published by the Bank for International Settlements finds monetary easing does not help economic recovery following a financial crisis downturn; deleveraging produces more positive effects
Spanish paper finds companies swap bankruptcy for foreclosure
Research by Bank of Spain analyses the country’s low bankruptcy rates; finds mortgage debt is used as an avoidance measure
ECB communicates ‘intensively’ on fiscal policy, says paper
Research report compares central banks' communication on fiscal policy; ECB the most active commentator
IMF paper examines driving factors behind reforms
Study examines whether IMF training or financial assistance is more correlated with structural reforms
ECB paper analyses factors driving portfolio flows
Working paper studies time-varying drivers of capital flows to emerging markets; finds investors are more sensitive to local factors during market stress, while extreme stress can cause a panic
IMF loans impact sovereign bonds, says Bank of Spain paper
Spanish study finds countries that receive IMF funding issue less sovereign debt, and with shorter maturities; effect is stronger under particular conditions
ECB paper analyses euro stability measures
ECB research assesses eurozone stability measures; says a European-wide framework for recapitalising large and systemic banks is still needed
BIS paper examines link between low growth and recessions
Bank for International Settlements research studies relationship between low growth and recession in the US; finds some growth patterns can forecast a sharp decline in GDP