Research
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket
Bank of Italy: location, not size instrumental to debt restructuring
Bank of Italy study finds debt restructuring of firms is more likely when located closer to borrowers
Demand and supply forces restriced credit: Bank of Italy
Bank of Italy study finds declines in demand and supply of credit dampened lending growth in Italian banks during financial crisis
BIS: Crisis response lacks rigour compared to Nordic countries in 90s
Bank for International Settlements study into the recent financial crisis says policy response may slowdown recovery
Riksbank study finds rate-setting board too large
Riksbank study on monetary policy committees finds Sweden’s Executive Board is not as effective with six members
Rate-setters decide on premise rather than conclusion: Riksbank
Riksbank research shows decisions based on premise rather than conclusions are preferred during tied Monetary Policy Committee votes
Bank of Spain proposes more efficient stress test method
Bank of Spain study explores new methods of stress testing that identifies more harmful risks to previously unscreened institutions
Sovereign bonds lost safe haven status in crisis: Bundesbank
Bundesbank study on sovereign bond spreads finds marked change in perceived risk of holding government debt following the bailout of Bear Stearns
Broader card payment security measures may minimise fraud: Kansas Fed
Kansas Federal Reserve study on card payment fraud says more can be done to improve the security of card based transactions
St Louis Federal Reserve: African Americans have endured economic disadvantage
A St Louis Federal Reserve study compares the economic progress of African Americans against white Americans and finds significant differences in access to labour markets
Bank of Portugal: calendar effects valuable data source for ATM patterns
A Bank of Portugal study on ATMs finds calendar effects provide useful understanding of consumer habits when undertaking cash withdrawls
Low savings widened Southern Europe's fiscal gap: IMF paper
Fund study finds lack of savings in Southern European countries caused large current account deficits to form in the run-up to the global financial crisis
Bank of Canada: foreign US Treasury holders depressed long term yields
A Bank of Canada study into long-term US Treasury yields finds foreign holders absorbed the excess supply of bonds and decreased yields pre-crisis
IMF: Sub-Saharan banks are cost efficient
Fund study on Sub-Saharan Africa finds banks in the region are cost efficient, but can do better if regulation is improved
France's Landau on how to deal with global imbalances
Banque de France second deputy governor Jean-Pierre Landau says debate should focus on removing policy-induced distortions
Philly Fed: central banks can do more to anchor inflation expectations
Philadelphia Federal Reserve study argues monetary authorities can better anchor inflation expectations by focusing on short term rates
Maastricht criteria tough enough to contain crisis threat: Cyprus
Central Bank of Cyprus paper finds risk of default zero if debt-to-GDP and primary surplus ratios remain below limits set out in Maastricht Treaty; paper mentions Greece and Italy as states where there is a default risk n
Professional forecasts lose accuracy over time: Philly Fed
Philadelphia Fed study finds that professional forecasters perform better on shorter timescales
Fed scoops prize for best swap lines: BIS
Bill Allen and Richhild Moessner study the effects of central banks’ swap lines and find those established by the Federal Reserve to provide dollar liquidity went furthest in achieving their aims
Mix of bad luck and policy fuelled credit boom in Eastern Europe
IMF research finds both bad luck and poor policymaking led to credit boom in new EU member states
IMF: Capital, not liquidity, limited post-crisis lending
Fund paper on bank lending finds that capital rather liquidity constraints froze lending following the 2007 sub-prime mortgage crisis
Bank tests joint credit and interest rate risk model
Bank of England research tests endogenous model to calculate credit and interest risk; finds results differ substantially
BoE payments research offers tips on economising on collateral
Bank of England study into payments systems argues that under a collateral-based real-time gross settlement system liquidity savings mechanisms can improve welfare
IMF: higher capital costs could suffocate growth in Aus, NZ
Fund study into post-crisis growth levels in Australia and New Zealand says biggest threat is higher capital costs