Research
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
IMF paper identifies de-dollarisation drivers in South America
Fund study says de-dollarisation of deposits and development of local capital markets key factors in Latin American countries
Spain’s monetary policy could not have prevented housing bust: IMF
Fund study says retaining the peseta would not have necessary prevented the housing collapse in Spain over the last decade
NY Fed: US consumers ease debt burdens
New York Federal Reserve study measures scope of consumer indebtedness and impact of credit issuance
Inflation in emerging markets driven by exchange rates: IMF study
Fund study shows emerging market countries exhibit strong exchange rate monetary policy channels compared to more conventional channels
Public expectations of banking supervision unrealistic: Netherlands Bank study
The Netherlands Bank study says high public expectations of banking supervision can adversely impact financial stability
Fed study on minimum wage and inequality
Federal Reserve study says impact of minimum wage declines on inequality in United States overstated
Debt management poses greater refinancing risks: Netherlands Bank
The Netherlands Bank study says greater reliance on short-term debt requires better coordination between debt managers and central banks
IMF paper investigates financial integration in Asia
Fund study finds equity and debt markets within Asian countries remain considerably more integrated with countries outside the region than within
Financial crises hit imports hardest: IMF research
Fund study shows financial crises are associated with large and persistent losses in imports while exports are not adversely affected
MBS purchase programme sent strong signal to mortgage market: Fed paper
Federal Reserve study says mortgage-backed security purchase programme had strong signalling effect on mortgage bond market
ECB paper develops new labour market model
European Central Bank study estimates new monitoring and forecasting model to measure labour market adjustments in Europe
IMF paper investigates drivers of extreme commodity price movements
Fund research looks to wine and crude oil prices to uncover the causes of volatility
Research commends Norges Bank’s stress tests
Group led by former Federal Reserve official says tests are highly innovative, economically sound and largely transparent
Forecasting ability fails to justify rating agencies’ power grab
Rating agencies forecasts “not particularly outstanding” during decades following the Great Depression, Bank for International Settlements paper finds
Fiat money, central banking and the Bank of Amsterdam: Atlanta Fed research
Atlanta Federal Reserve paper uses Bank of Amsterdam example to explore effects of fiat money on central bank functions
Norges Bank paper looks at combining predictive densities
Norges Bank research seeks means to go past point forecasts when combining models
Semi-structural models and inflation forecasting: Bank of Canada paper
Bank of Canada study finds semi-structural models best traditional New Keynesian Phillips Curve, bivariate vector autoregression models at inflation forecasting
Capital flows drive financial imbalances: IMF study
Fund paper says capital inflows are main factor behind financial imbalances, with effects worsened by insufficient oversight
Norges Bank on links between marginal value of cash and firms’ behaviour
Norges Bank research points to impact of marginal value of cash on businesses’ decision making