Research
Bankruptcy does not exclude consumers from credit markets: Fed paper
Federal Reserve study finds evidence that bankruptcy filers are not excluded from unsecured credit markets but usually pay a higher premium for finance
Crisis measures improved financial market conditions: Chicago Fed paper
Chicago Federal Reserve study shows Fed crisis measures led to significant improvement in financial market conditions
LIC Asia banks’ not isolated from crisis: IMF paper
Fund study identifies spillover effects from global financial crisis on low-income country banks in Asia
IMF paper addresses asset shortages in emerging markets
Fund study says greater capital market development and regulatory reform can raise supply of financial assets in emerging markets
Crisis propagated liquidity shortage: Bank of Canada paper
Bank of Canada study shows banks that rely on wholesale funding were worst affected during the crisis
Italy presents a legal perspective on cross-border insolvency
Bank of Italy draws on conference proceedings to produce booklet on legal issues surrounding cross-border insolvency
IMF re-examines link between exchange and inflation rates
IMF examines link between nominal exchange rate and inflation
New model for assessing underlying inflationary pressure: Canada
Discussion paper calls for exclusion of components with “exceptionally large price changes” when assessing underlying inflationary pressures
Phasing in Basel III rules eases economic costs: IMF paper
Fund study shows that implementing higher capital and liquidity requirements over a lengthy period of time can help reduce the macroeconomic costs of enforcing such rules
BIS paper highlights change in bank-lending channel
Bank for International Settlements study shows shift in drivers of bank-lending channel in European and United States pre-crisis
IMF paper builds US, euro area financial conditions indexes
Fund paper creates financial conditions indexes to forecast economic activity in the US and euro area
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
Financial cycles have strong economic implications: IMF paper
Fund study examines whether the close correlation between business and financial cycles is synchronised or coincidental
Overdraft surveys reduce balances in the red: Philly Fed paper
Philadelphia Federal Reserve study examines impact of overdraft surveys on bank balances
Capital constraints limits firm productivity: BoE paper
Bank of England study shows recession in United Kingdom limited firms’ ability to finance production costs
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
NY Fed paper proposes two-tier capital model
New York Federal Reserve study suggests creating a two-tier capital model to solve leverage conflicts
RBA paper reviews unconventional monetary policy measures
Reserve Bank of Australia study says use of long-term interest rates and communication about future short-term interest rate path has merit
Precautionary saving motives necessitate monetary stance revisions: BoE paper
Bank of England study says households’ precautionary saving motives justify accommodative policy bias
Measuring output gap in export-oriented economies: IMF paper
Fund study assess methods to measure output gap in countries facing non-traditional demand pressures
Shirakawa on earthquake response efforts
Bank of Japan governor Masaaki Shirakawa says he feared earthquake would lead to deterioration in business sentiment
Bank of Finland on modelling rational expectations
Bank of Finland study discusses modelling rational expectations in monetary policy framework
QE solution at zero bound: NY Fed paper
New York Federal Reserve paper co-authored by Brian Sack shows quantitative easing successfully eased monetary policy at the zero bound
IMF paper explores measures of default probability
Fund paper investigates methods to measure market price of risk and probability of default