Research
Unemployment rate will take several years to normalise: Bernanke
Federal Reserve chairman Ben Bernanke expects unemployment rate to take several years to return to normal levels
Screening distant borrowers presents challenges: Netherlands Bank paper
Netherlands Bank study examines effectiveness of lending to distant borrowers during crises
Securitisation limits debt renegotiations: Chicago Fed paper
Chicago Federal Reserve study says mortgage securitisation reduces likelihood of renegotiating debt and raises probability of foreclosures
IMF studies G-7 factors in global business cycles
IMF study examines impact of G-7 indicators in driving global business cycles
Philly Fed reviews DSGE models
Philadelphia Federal Reserve study examines mis-specification of money-demand shocks in dynamic stochastic general equilibrium models
Carry-trade inflows open to vicious circles, say Shin, Plantin
Centre for Economic Policy Research study shows interaction between capital inflows and monetary policy might destabilise carry trade
Bank of Canada paper on exposure of foreign shocks
Bank of Canada study examines Canadian economy’s exposure to global economic developments
IMF paper identifies Brazilian interest rate regime switch
Fund study says Brazil’s relatively low interest rate level and lack of volatility are owing to regime changes
Fiscal policy bolsters monetary policy: Central Bank of Turkey paper
Central Bank of Turkey study shows sound fiscal policy can help achieve active monetary policy
Short-time programmes ease unemployment concerns: CEPR study
Centre for Economic Policy Research study says initiatives for short-time work programmes can help reduce unemployment during recessions
Strong US-Canadian financial linkages: Bank of Canada paper
Bank of Canada study finds strong evidence of spillover effect between financial conditions in the United States and Canada
Fed funds rate falls short: Kansas City Fed paper
Kansas City Federal Reserve study says interest rate for reserves may play larger role in Fed’s monetary policy exit plan than fed funds rate
Monetary policy impacts credit risk: CEPR paper
Centre for Economic Policy Research study examines impact of monetary policy on bank riskiness
Safe haven effects caused exchange rate swings: IMF paper
Fund study identifies source of exchange rate volatility during financial crisis
BoJ paper on Chinese cross-border capital flows
Bank of Japan study examines the impact of greater economic integration on cross-border flows in China; makes recommendations on policy prescriptions
Covered bond purchase programme a success: ECB paper
European Central Bank study says Eurosystem’s covered bond purchase was an effective policy tool
Eurosystem crisis measures averted prolonged crisis: ECB paper
European Central Bank study says introduction of unconventional monetary policy measures during financial crisis successfully provided liquidity to banking system
NY Fed paper highlights discount window stigma
New York Federal Reserve study finds evidence of stigma attached to bank lending when accessing funds from discount window during crises
Bank of Finland study finds positive innovation channel
Bank of Finland study finds positive effect of finance on growth through efficient technological innovations
BoJ study identifies capital inflow feedback loop
Bank of Japan Review study says foreign exchange intervention in emerging markets may have unintended consequences on capital flows
Bank of Finland research on moral hazard effect of collateralised loans
Bank of Finland study examines effects on moral hazard when collateral values fluctuate
NY Fed paper investigates decline in adjustable-rate mortgage
New York Federal Reserve says supply-side factors explain decline in market share of adjustable-rate mortgages in recent years
Political instability hampers growth: IMF research
Fund study shows political instability significantly reduces economic growth
Research underestimates probability of reaching zero bound: San Francisco Fed
San Francisco Federal Reserve paper says probability of hitting the zero lower bound of interest rate is often underestimated in economic research