Research
NY Fed: foreign exchange swap lines smoothed disruptions in overseas markets
A New York Federal Reserve review shows swap lines enhanced the ability of central banks to provide dollar funding
IMF: fiscal prudence pays in emerging markets
IMF study shows that an improving fiscal position improves sovereign debt grading and reduces financing costs in emerging-market economies.
IMF: Larger long-term credit facilities needed in WAEMU
IMF study shows more investment in longer term projects in West African Union countries will enhance returns
IMF: allowing assets to run to maturity best exit strategy
IMF study on Japan’s experience of quantitative easing shows best exit strategy is to allow asset purchases to run to maturity
Banks should not rely on CDS spreads for credit risk
National Bank of Belgium study highlights a number of shortfalls in policymakers’ use of CDS spreads as an indicator for bank risk
Canada’s Murray: commodity boom and bust avoidable
Bank of Canada deputy governor John Murray says commodity market volatility can be eased with sensible policies
IMF: inflation targeting the next step for emerging economies
IMF study makes strong case for adoption of inflation targeting in emerging economies
IMF: tax reforms necessary to reduce poverty in Central America
IMF study shows reform of Central America’s regressive fiscal policies can improve wellbeing of poor households
IMF: fiscal policies ineffective in stabilising economies
IMF study shows automatic stabilisers and not outright discretionary fiscal policy is an effective remedy for stability
Atlanta Fed: subprime bubble linked to numeracy
Atlanta Federal Reserve study shows people with limited numerical skills are more likely to default on their mortgage
Bank of Italy on post-Lehman credit conditions
Bank of Italy paper shows severe credit contraction and behaviour of zombie banks distorted lending following Lehman’s collapse
Kansas Fed: high creditworthiness of poor in Bangladesh
Kansas Fed paper shows poor individuals more likely to make timely repayments to maintain relationship with bank.
NBB: Macroeconomics not to blame for financial turmoil
Belgian central bank paper looks at the consequences the financial crisis on macroeconomics with a study of Keynes and Lucas.
NBB: research department’s role in central banks vital to policy
Belgium National Bank looks at role of research departments in the bridging gap between policymakers and academics
CEPR: small banks pay big premium during credit crunch
Centre of Economic Policy Research study into bank lending finds small firms’ access to liquidity is affected more than larger firms by adverse credit conditions
IMF: Chile’s financial system resilient to global crisis
IMF paper shows little impact of global financial crisis on Chilean banks
Eurozone credit standards tightened further in past three months
ECB s bank lending survey shows credit conditions remain fragile
Bank of Japan: financial integration stronger in developed markets
Bank of Japan paper finds financial integration more advantageous to developed countries
Bank of Italy: debt-saddled Italian firms struggle to compete in Europe
Bank of Italy paper puts low productivity of non-financial firms in Italy to inherently high indebtedness in the country
IMF’s Shinohara warns EME dominance may lead to imbalance in growth
IMF deputy director Shinohara indicates global imbalances may result from an uneven distribution of growth
IMF: dollarisation minimises central bank functions
IMF paper offers guidance on dollarisation of currency using past experiences
IMF: Russian housing market vulnerable to external shocks
IMF paper shows house prices in former Soviet countries are vulnerable to foreign capital inflows in open economy model
IMF: local currency lending cushioned crisis blow
IMF study shows increased domestic currency lending led to relatively strong access to credit in American countries following credit crunch
BIS: monetary policy should factor in oil-price shocks
Bank for International Settlements research identifies strong role for monetary policy during oil shocks