Research
Pillar 3 crucial for bank safety
Bank of Finland examines the combined effect of the Pillar 1 minimum capital requirements and Pillar 3 disclosure requirements of Basel II on bank safety
Spain should hold on tightening fiscal policy
R. Anton Braun, University of Tokyo, compares the current Spanish recession with Japan in the 1990s and looks at the impact of fiscal policy measures
HKMA policy eased post-Lehman stress
Hong Kong Monetary Authority looks at the effectiveness of its policy response to the dislocations and stress in the local interbank and FX swap markets after Lehman collapse
Ireland on how to make better forecasts
Central Bank and Financial Services Authority of Ireland looks at whether modelling structural change improves macroeconomic forecasting
Too-big-to-fail matters for macroprudence
Federal Reserve Board research looks at the dynamics of spillover effects of the global financial crisis to Asia and Pacific region
Danes naturals for mobile payments
National Bank of Denmark research suggests that Danish consumers should utilise mobile payments more
The role of monetary policy in mitigating terms of trade instability
A paper from the Reserve Bank of Australia finds that floating exchange-rate regimes play the central role in soothing terms of trade volatility, followed by monetary policy measures
BIS global financial regulator needed: Griffith-Jones
Stephanie Griffith-Jones argues for far stronger global financial regulatory governance under the Bank for International Settlements (BIS)
Global regulatory reform not in sight: Kern Alexander
Kern Alexander says consensus on international regulatory reform is still far ahead
A new transmission model – research
An IMF working paper outlines a panel unobserved components model of the transmission mechanism
Global balance-sheet growth behind dollar scarcity
Bank for International Settlements looks at the causes of the dollar shortage in the global banking system during the crisis
Productivity drives banks’ international efforts
Bundesbank’s research finds that only the largest and more productive banks engage in international activity and set up foreign affiliates
Regulation helps microfinance institutions expand
World Bank’s research investigates the impact of regulation on microfinance institutions
Raise inflation target to avoid slump – IMF report
International Monetary Fund study looks at how monetary policy can help hold off a protracted deflationary and economic slump when policy rates are near zero
Why MPC chairmen are (almost) always in the majority
Research uncovers reasons why committees tend to back chairmen
The link between exchange rates and monetary policy
Bank of Canada paper finds a strong negative relationship between rate setting and exchange rate pass-through
Macroeconomic volatility and terms of trade shocks
Reserve Bank of Australia research explores the effect of terms of trade volatility on macroeconomic volatility
Banking: a mechanism design approach
Philadelphia Federal Reserve research uses mechanism design to study banking
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Credit-card discrimination hard to prove
Federal Reserve Board finds no evidence of credit-card companies discriminating against minorities.
Public banks good for growth
Central Bank of Cyprus finds that government ownership of banks has been associated with better long-run growth performance
External balances in low-income countries
International Monetary Fund research offers empirical analysis of balances in low income countries
Lamfalussy godfather of BIS’s macroprudence
National Bank of Belgium paper shows Alexandre Lamfalussy as the originator of the macroprudential approach to stability
Mutual guarantee institutions aids credit access
Bank for International Settlements finds that membership of mutual guarantee institutions help small and medium enterprises to obtain bank funding