Research
IMF paper draws lessons from Sri Lanka’s debt restructuring
Country sought to negotiate simultaneously with array of creditors, while executing reform plan
Europeans flock to cash during times of crisis – ECB research
Study highlights hard currency’s role as ‘spare’ tyre in payments system
IMF study outlines ‘optimal policy’ for tokenisation
Researchers recommend interoperability mandates and public-private cost-sharing
NBER paper explores drivers of collateral prepositioning
Authors ask why US banks choose not to pledge all their available collateral at the Fed
Eurozone consumers shifted habits after tariffs – ECB survey
More financially literate citizens stopped buying US goods, consumer expectations survey shows
Signalling sizeable spending spooks stock markets – ECB study
Larger-than-expected fiscal measures in times of uncertainty could backfire on governments
NBER paper emphasises role of accounting in bank regulation
Bookkeeping conventions matter to how effective capital and liquidity rules are, authors write
New taxonomy of operating frameworks from BIS economists
Two-dimensional approach captures “surprising similarities” between different methods
Dollar dominance amplifies transmission of US shocks – study
Bank of Korea research recommends promoting South Korean bonds and internationalisation of won
Riksbank deputies say rate forecasting key to transparency
Officials say advantages of openness outweigh drawbacks
US consumers’ expectations of finding work hit new low – study
Mean perceived probability of a newly unemployed person finding a job fell to 44.9%
Liquidity impairment harms policy transmission – BIS paper
Authors say QE may be more potent in times of market stress
Little impact on Sweden’s inflation from US’s China tariffs – study
Sveriges Riksbank paper says levies will affect Swedish exporters in as yet unknown ways
US SMEs less fazed by tariff turmoil – Boston Fed survey
Study suggests further uncertainty over levies would no longer cause firms’ outlook to deteriorate
World Bank report says going green makes economic sense
Authors tie employment, resources and productivity to environmental health
DNB calls for ‘structural solutions’ to varying eurozone inflation
Rebalancing effect of eurozone’s uniform monetary policy is “slow and incomplete”, central bank says
Study suggests AI is already leading to US job losses
Research by St Louis Fed says effect has been greatest in mathematical and computer sectors
Tariffs may lower the natural interest rate – research
Increased trade costs reduce demand for capital, say authors
BoE economists outline model of liquidity-solvency spirals
Model aims to test banks against the sort of interactions that led to collapse of SVB and Credit Suisse
NBER paper says geopolitical risk impacts consumer expectations
ECB survey questions help establish causal link between Russia-Ukraine war and spending plans
Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
Yield spreads of bonds held by mutual funds decline in QE – ECB paper
Bond purchase programmes compress risk premia and boost demand, research finds
Ex-BIS research head backs tokenised deposits over stablecoins
Tokenisation is the “truly transformative innovation”, argue Cecchetti and Schoenholtz