Research
BIS working paper studies collateral requirements
Research estimates collateral requirements for mandatory central clearing of over-the-counter derivatives; finds major dealers already have ample assets to meet initial margin requirements
Boston Fed continues research into payments
Researcher Scott Schuh adds to 2010 research into payments; finds rising cost of debit cards reduces their use
Dutch working paper investigates risk preferences
Netherlands Bank working paper provides new field of evidence on risk preferences over small stakes
Bank of Japan paper studies currencies and commodities
New research paper from the financial markets department at the Bank of Japan examines the relationship between so-called commodity currencies and commodity prices
IMF research analyses Brazil's high interest rates
IMF research paper assesses high interest rates in Brazil; suggests country could move towards lower rates if domestic savings increase to levels found in other emerging markets
Bank of Portugal studies synchronisation of macroeconomic fluctuations
Research paper expands on the assessment of synchronisation of macroeconomic fluctuations across countries and regions; past assessment has been crucial for the debate on economic integration
Bank of Canada working paper investigates market movers
New research looks into whether central bank communications or media reports impact markets more
Reserve Bank of India working paper studies gold prices
Research looks at the links between gold prices and financial stability in India
Boston Fed paper evaluates impact of accounting standards on institutions
Boston Fed researcher finds that implementing fair-value accounting may not necessarily provide financial statement users with more transparent and useful reporting
IMF working paper formulates new forecasting framework
New IMF research looks into systemic real and financial risks; focuses on the measurement of them, predicting them and stress testing
Bank of Canada research delves into monetary policy
Bank of Canada releases research paper which examines the interaction between monetary policy and macro-prudential policy
Brazilian research looks at regulatory policies and capital flows
Researchers find counter-cyclical regulatory policies may need to be supplemented by other, more targeted, macro-prudential instruments
IMF paper studies Indian growth spillovers to south Asia
Results of a panel growth regression suggests India’s growth has impacted region since 1995
Bank of Canada studies household finances and financial stability
Bank of Canada Review for winter 2011-12 examines recent research into rise in household debt and upward trend in house prices
Central Bank of Chile working paper deals with pricing norms
Chilean research relaxes standard assumption in macroeconomics that pricing decisions are taken by single-product firms
IMF paper looks at coincident indicators of capital flows
International Monetary Fund research paper finds methods of tracking capital flows often result in over-predictions
NY Fed paper examines workforce skill across US
Staff paper finds different skill sets in different regions of the country; urban areas have more workers with ability to generate ideas and solve complex problems
BIS working paper studies inflation dynamics
Bank for International Settlements researchers investigate inflation dynamics in the presence of informal labour markets
Bank of Portugal paper revisits asset pricing with a bank risk factor
Bank of Portugal research paper investigates how the banking sector influences the stock returns of non-financial firms
Central Bank of Chile paper questions efficiency of forecasts
Research paper finds taking weighted averages of two competing forecasts can introduce inefficiencies
NY Fed paper discusses budget deficit impact on output
Federal Reserve Bank of New York staff paper finds running budget deficits can be either expansionary or contractionary for output, depending on how deficits interact with expectations about the long run
IMF offers fresh perspective on stress testing
International Monetary Fund researchers investigate stress testing in interconnected banking systems
IMF paper investigates valuation impacts of geographic diversification
Paper finds shareholders are less able to monitor firm executives in diverse bank holding companies; allows corporate insiders to extract larger private benefits
World Cup linked to declining trade volumes, says ECB paper
European Central Bank study shows distraction created by sporting event explains changes in volume of trades executed in financial markets during playing hours