Research
BoJ: liquidity strains alter investor behaviour
Bank of Japan study shows investors sell or buy a liquid asset more quickly in distressed environments
Buba’s Böhmler: ongoing education vital to central banks
Bundesbank executive board member Rudolf Böhmler says education will keep staff up-to-date on advances in finance
Norges Bank: co-op loans less salient
Norges Bank study shows salience of co-op loans leads homebuyers to take on more costly borrowing
St Louis Fed: Chinese house prices have minimal effect on savings rate
St Louis Federal Reserve study says rising housing prices in China do not explain the high savings rate of households
Bundesbank: fiscal stimulus contractionary in long term
Bundesbank study shows lump sum debt financing has short-term economic benefits but long-term costs
RBA: China’s thirst for commodities driven by global export market
Reserve Bank of Australia study says China’s demand for resources is largely driven by developments in international not domestic markets
IMF: budget responsibility laws do not guarantee improved fiscal policy
Fund study shows fiscal performance is not enhanced by institutions on budgetary responsibility
Canada calls for holistic approach to regulation
Bank of Canada study says regulators must consider capital, liquidity and short-term liabilities jointly when addressing systemic risk
IMF: dollar volatility influences Gulf risk premia
Fund study shows US inflation and consumption drive risk premia in Gulf Cooperation Council countries
SNB: immigrants reduce seigniorage
Swiss National Bank study shows increase in immigration reduces seigniorage for banknotes
SNB: rich nation imports deskill developing economies
Swiss National Bank says trade with richer nation depresses relative wage of skilled workers in less developed countries
IMF: policy prescriptions for Asean 5 economies
Fund study lays out strategy for fiscal retrenchment in Asean 5 economies
IMF finds persistent debt overhang in Baltic countries
Fund study finds level debt overhang most pronounced in Estonia and Latvia
Italy: Basel II framework left banks defenceless against monetary policy shocks
Bank of Italy study shows higher capital requirements under Basel II did not guard against monetary policy shocks
Islamic finance poses challenges for central banks: Bank of Italy
Bank of Italy study says underdeveloped market for Islamic finance creates problems for central banks and regulators
IMF research finds new method to model asset prices
Fund study uses a logarithmic linear method to compute risk adjustments in asset price models
Michael Bordo: Fed failed as lender of last resort
Federal Reserve did not fulfil its role as lender of last resort
Eugene White: Fed supervision increased probability of crises
Fed’s increased role in banking supervision during the early part of the last century altered behaviour of banks and regulators
IMF: stricter ring-fencing creates greater incentive to build capital buffers
Fund study shows that policies to employ stricter ring-fencing on bank subsidiaries requires them to hold larger capital buffers
Finland finds limitations in China’s monetary policy
Bank of Finland study finds China’s monetary policy strongly influences asset prices but not household consumption
Namibia’s Shiimi: financial inclusion a high priority
Bank of Namibia governor Ipumbu Shiimi outlines plans to promote financial inclusion in Namibia
Kansas Fed on moral hazard in lending
Kansas City Federal Reserve study shows moral hazard poses greater threat to lending than adverse selection
IMF: deep structural problems hinder Italy’s recovery
Fund study says Italian economy unlikely to return to full capacity unless structural weaknesses are addressed
Temporary workers account for large part of labour reallocation costs: Bank of Canada
Bank of Canada study shows excluding temporary workers severely underestimates adjustment costs to labour