Research
Housing price disparities complicate US monetary policy – research
Time-varying inertia in prices makes housing bubbles more unpredictable, Dallas Fed paper says
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Bank of Canada conducts large-scale survey of indigenous-owned firms
Indigenous firms have higher inflation expectations and use alternative funding sources
Use machine learning to protect payment systems – research
Tool could also be used to warn of money laundering and bank runs, researchers say
ECB paper uses RCT data on inflation expectations
Consumers’ level of attention is determined by economic environment, research finds
Past US presidents’ Fed pressure raised inflation – NBER paper
Nixon-era evidence points to major impact on price level from “political pressure shocks”
Banks should share data on borrowers, working paper argues
Compulsory data sharing has increased credit supply, Hungarian central bank paper says
Credit rating agency failures continue despite EU reforms, paper finds
Bond issuers are still “shopping” for good ratings, ECB paper says
QE helped smooth sovereign bond yields, ECB paper finds
Eurosystem’s asset purchases helped reduce effect of “auction cycle”, researcher says
Research queries monetary policy ability to curb financial crises
“Leaning against the wind” is unlikely to work, New York Fed paper argues
Neutral interest rate likely to rise, paper finds
Several factors are pushing rate upwards, Bank of Canada researchers say
Uneven US innovation could increase inequality – research
St Louis Fed economist documents rising patent concentration by area
Banxico paper probes forced labour’s lingering effects in Ecuador
High forced labour involvement is associated with decreased descendants’ income
DNB surveys Dutch consumers on CBDC use
Half of the population would not open CBDC current account, study finds
Neutral interest rates at pre-pandemic levels, Bank of Canada finds
Nominal neutral interest rates in both countries sit between 2.25% and 3.25%
Oil shocks can be identified in real time, paper says
Bank of Italy researchers’ model identifies demand and supply shocks from daily data
Politics and economics drive swap line decisions – IMF paper
Financial and trade links as well as political reasons affect decision-making, authors say
Stress-test failures increase banks’ M&A scrutiny, Fed research finds
US lenders’ merger-related activity improves if they have failed tests, authors say
Dollar less popular for services trade than for goods – ECB paper
Large firms prefer sticking to the US currency, research finds
Fed policy has more effect during US recessions, ECB paper finds
Researchers use non-linear methods to examine effects of FOMC shocks
US news has a large impact on global bond yields – research
Bank of Canada research finds US news affects expectations in other countries
Inequality exacerbates crises in several ways, Fed research finds
High-income households have a high tolerance for risk, which boosts the non-bank sector
Mexico needs reform to fulfil potential – Dallas Fed paper
Anti-trust measures, easier market entry and FDI should aid growth, researchers say
Energy shocks create monetary policy trade-off, paper says
Rate-setters should consider energy prices’ impact on jobless, Bank of Italy paper finds