Research
NBER: narrow funding banks will help regulate ABS market
National Bureau of Economic Research study proposes new narrow funding banks to help regulate asset-backed securities
More than half of Hong Kong banknotes held outside territory
Hong Kong Monetary Authority research cites increased integration with mainland and popularity of Macao as factors
IMF on reserve adequacy in The Gambia
Research suggests reserves equal to the value of between 4.5 and seven months of imports are needed
Oxford SWF Project cautions funds on aping other investors
Oxford SWF Project paper argues sovereign wealth funds’ tendency to copy strategy of other institutional investors misguided
SF Fed: fiscal stimulus had short term benefits
San Francisco Federal Reserve study finds fiscal stimulus has had mixed effect on employment in the United States
NY Fed: charter schools preferred over public
New York Federal Reserve study finds charter schools in Michigan compete for student enrollment with private schools
Bundesbank solves German inflation and unemployment anomaly
Bundesbank study finds new, significant trade-off between unemployment and inflation in Germany
IMF: successful financial liberalisation requires good governance
Fund study shows that good political institutions increase opportunity for sustainable financial deepening
CEPR: PIGS neglected current account deficits
Centre for Economic Policy Research study shows adoption of euro caused countries to relax current account discipline
SNB: money market rates best target during recessions
Swiss National Bank study shows money market-based monetary policy procedures create greater stability
National Bank of Hungary tests hybrid inflation targeting rule
National Bank of Hungary study says hybrid regime takes best of price-level and inflation targeting regimes
Fed proposes high frequency method to calculate equity returns
Federal Reserve study finds new method of measuring equity returns using high frequency data reduces forecasting bias
SNB on how a taste for the home grown impacts trade
Swiss National Bank research examines how preference associated with “home market effects” impacts the aggregate volume of trade and welfare gains from liberalisation
IMF on why bad news increases volatility, decreases leverage
IMF research attempts to explain why bad news is often associated with higher future volatility
St Louis Fed on asset pricing and portfolio choice
Research points to significant advances in rationalising empirical features
The Italian lira: 1896-1997
Bank of Italy publishes information on pre-euro currency
Boston Fed: Massachusetts suburb receives housing boost from Boston
A Boston Federal Reserve study shows inner city growth impacts positively on housing recovery in suburban areas
IMF: Fiscal health helps weather negative externalities
Fund study shows that fiscal austerity can weaken effects of negative demand shocks on growth in low income countries
IMF: policymakers benefit from data standards initiatives
Fund study says IMF data standards initiatives benefit quality of economic forecasts and subsequent policy decisions
BoE’s Haldane: China must not overshoot on financial reform
Bank of England executive director Andrew Haldane says China must continue to promote patience while harnessing impatience
Bank of Israel: FX intervention forced shekel depreciation
Bank of Israel study says ad hoc purchases successfully depreciated the value of the shekel against the US dollar
Cleveland Fed: Foreclosure lowers home prices by 1.6%
Cleveland Federal Reserve paper finds effects of foreclosure on house prices larger than previously thought
NY Fed: Education promotes regional development
College-educated people spur economic growth, New York Fed research finds.
Islamic banks affected differently by crunch: IMF
IMF research finds Islamic banks outperformed conventional rivals in 2008, but trend was reversed following year