Research
High public debt will choke long-term growth: ECB
European Central Bank paper finds debt to GDP ratio of 70% enough to drag growth down
Decomposing the education wage gap
Atlanta Federal Reserve paper adds to plethora of research on link between education and wages
IMF investigates spread of Islamic finance
Fund research uncovers five factors influencing diffusion of Islamic finance
Atlanta Fed on dual labour markets
Income inequality may be exacerbated by firing costs, Atlanta Federal Reserve research argues
IMF: central bank independence unrelated to politics
Fund study shows that political factors do not figure in central banks’ independence and effectiveness, but key for budgetary institutions
Central Bank of Luxembourg: banks pass stress tests
Central Bank of Luxembourg study shows local banks’ tier one capital buffers are sufficient to weather macroeconomic shocks
BoC: contingent capital must supplement counter-cyclical capital buffers
Bank of Canada study says contingent capital more effective in providing liquidity to banks in a crisis
IMF: East African countries have divergent financial barriers
Fund study finds more advanced members of East African Community have lower financial barriers than others
IMF: commodity shocks explain variation in Latin American fiscal positions
IMF study finds impact of commodity price volatility on government revenue in Latin America linked to fiscal standing
IMF: bond issuance creates more effective monetary policy channel
IMF study says government bond issuance can help mop up excess liquidity, making monetary policy more effective
BoJ on dollar’s “exorbitant privilege”
Bank of Japan research notes that with great privilege comes great responsibility
ECB paper: global finance has little impact on Mediterranean
Real economy, not finance, impacts Mediterranean, research published by the European Central Bank posits
HKMA: Australia’s investment-led deficit well balanced
Hong Kong Monetary Authority study shows that current account deficits are not always a bad thing
NY Fed: emergency dollar swap lines a success
New York Federal Reserve study says dollar swap facilities provided effective source of funding to banks during financial crisis
Bank of Israel: riskier firms still turn to banks for funding
Bank of Israel study says profitability of firm and size determined method of financing with low profit firms preferring bank loans
IMF: financial stress distorts losses in defaults
IMF study says probability of default measures do not fully account for potential losses
Philly Fed investigates impact of shocks on credit lines
Philadelphia Federal Reserve examines the effect of the subprime crisis on credit lines
IMF: inflationary risks minimal during recessions
Fund study shows advanced countries are at low risk of inflationary pressure when economy is running under capacity
Kansas City Fed: QE effective at zero bound
Kansas City Federal Reserve study shows quantitative easing is effective at lower interest rate bound
Lessons from Bill Taylor and the last financial crisis
Kansas City Federal Reserve publishes a short biography of former FDIC chairman
IMF: Noughties oil swings driven by demand
IMF study says global oil demand shocks led to volatility in prices during last decade
St Louis Fed: Financial innovation important for growth
St Louis Federal Reserve study says improving best financial practices can boost economic performance
Monetary policy has scant impact on commodity prices
European Central Bank research finds the impact of monetary policy on prices is rather limited, though statistically significant
Minimum capital requirements increase systemic risk
Netherlands Bank research notes that Basel II capital requirements foster homogeneity