Research
IMF’s new exchange-rate terms explained
International Monetary Fund explains revisions to its system for the classification of exchange rate arrangements
Banks bend rules in crises: IMF paper
Authors show that banks used discretion in classifying mortgage debt and in accounting for related losses and assets
Finland downgrades 2009 forecast
Bank of Finland says it now expects economy to shrink by 7.2% this year
Bailout announcements agitated markets, shows IMF study
IMF working paper shows bailout decisions aggravated inter-bank markets, and argues for a coordinated policy response to restore global confidence
Real effects of banking crises: a literature review
Bank of Italy examines trends in research on banking crises
Interventions helped creditors not shareholders
Bank for International Settlements reviews market reaction to bank rescue packages during the crisis
Subprimes didn’t perform worse than prime loans: Philadelphia Fed
Philadelphia Fed’s loans data analysis yields unexpected results
Central banks victims of their own inflation-fighting success
European Central Bank tests whether memories of high inflation affect public preferences about the importance attached to price stability
Analysing the boom-bust cycle in Spain’s housing market
International Monetary Fund working paper constructs a model to explain the behaviour of housing market cycles in Spain and the European Monetary Union
Credit measurement in a changing world
Reserve Bank of Australia presents its approach to measuring credit and non-intermediated debt flows
Australian funds hedge half their foreign assets
Reserve Bank of Australia investigates the level of currency hedging by domestic managed funds
Borders affect prices
Boston Federal Reserve looks at the role of international borders in segmenting markets
Not everyone can make it to the top
Boston Federal Reserve finds American families’ economic mobility is decreasing
Privately-funded social security better
Central Bank of Turkey says fully funded social security provides greater welfare effects
Linking saving ratios and current account balances
Key differences in saving and investment ratios explain current account balances, but experiences still differ by region says an article published by the Reserve Bank of Australia
French banks resilient in crisis but hurdles remain
French banks have weathered the crisis through a diversified model and well-managed risk but many challenges remain, argues research published by the International Monetary Fund
Reasons for renminbi undervaluation disputed
Undervaluation of the renminbi is impenetrable as a result of the lack of clarity in academic literature, argues Bank of Finland paper
Belgium and euro area will not face deflation
Policymakers’ swift adoption of expansionary policies will prevent Belgian and Euro area economies from spiralling deep into deflation, argues the National Bank of Belgium
Towards a better measure of wealth
Report seeks to highlight the limitations of GDP as a measure of economic and social well-being, particularly problems in its measurement
The real effects of financial risk
Research estimates the magnitude of key effects on the real economy from financial sector stress
How competition influences bank failures
Bank of Finland uses evidence from Russia to investigate link between competition and failure
Monetary policy and the Jordanian central bank
Research charts the impact of central bank independence on policy
Riksbank's Svensson calls for better forecasting
Riksbank’s Lars Svensson reviews the development of the Riksbank’s transparency and communication since its independence in 1999
Sounder banks’ borrowers get burned in mergers
Centre for Economic Policy Research (CEPR) looks to Japan for firm-level evidence on the real effects of bank bailouts