Research
What 1 trillion can buy you
1 trillion-worth ($10.6 billion) of central bank interventions moves the yen/dollar rate by 1.7%, finds a new paper from the Bank of Japan.
Risk premia can be procyclical
New research from the Bank of England shows that risk premia can be procyclical.
Union activity linked to swings in output
Countries with high union density experience larger fluctuations in output, posits a new paper from the European Central Bank.
Emerging markets should watch fiscal positions
Emerging-market economies should pay off their debts sooner rather than later, posits new research from the Bank of England.
Korea's target hits its aims
By having an explicit inflation target, the Bank of Korea is taking the optimum route to price stability, posits a new paper from the European Central Bank.
What moves the yield curve?
The monetary policy response to the inflation gap impacts the yield curve, says a new research form the Kansas City Federal Reserve.
Sequential bargaining in a New-Keynesian model
This working paper by the European Central Bank considers a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period.
Finding equilibrium in complex markets
This IMF Working Paper provides a brief overview of the implications of computational complexity for economic modelling.
China's financial liberalisation success
Liberalisation of China's financial system reduced its vulnerability, posits a new paper from the Hong Kong Monetary Authority.
How to measure global inequality
World inequality cannot be measured with the same tools as applied at a national level, says a new research from the Bank of Italy.
US monetary policy self absorbed - Dallas Fed
Monetary policy in the United States is too self absorbed, said Richard Fisher, the governor of the Federal Reserve Bank of Dallas in the first Annual Report of the central bank's Globalization and Monetary Policy Institute.
Asian crisis's impact on money demand
The Asian crisis impacted money demand in Chilean economy, posits a new paper from the country's central bank.
IMF surveillance improved
The International Monetary Fund's (IMF) country surveillance improvements are effective, posits a new paper from the Bank of Canada.
Multi-family subprime borrowers should owe less
Multi-family property owners with subprime mortgages should receive a writedown of a proportion of the principal balance on their loan, argues a new paper from the Federal Reserve Bank of Atlanta.
Floating rates worth weight in gold for Germany
German society was better off under the floating exchange-rate regime than during the pre-first world war classical gold standard period, finds a paper by Michael Bordo and Bernhard Eschweiler for the National Bureau of Economic Research.
Avoid Dutch disease with deep financial industry
A deep financial industry can reduce the exchange-rate appreciation effect of capital inflows, posits a new paper from the International Monetary Fund.
Enlargement and stability: ECB's new challenges
Enlargement and financial stability are the European Central Bank's (ECB) main new challenges, finds a paper from the National Bureau of Economic Research.
Financial regulation: a macro analysis
A report from the Centre for Economic Policy Research applies macroeconomic analysis to the design of financial regulation.
Financial variables impact inflation dynamics
Financial variables can explain the long-term dynamics of inflation expectations, finds a new paper from the European Central Bank.
Sepa implementation: an overview
A new publication from the Bank of Italy gives an up-to-date overview of the Single Euro Payments Area (Sepa) implementation process.
US liquidity impacts eurozone inflation
Excessive liquidity in the United States weakens the effectiveness of monetary policy in the euro area, a new paper from the International Monetary Fund posits.
Research assesses risk-management methods
A paper from the Hong Kong Monetary Authority compares different methods for estimating and forecasting the volatilities and correlations of asset returns.
Education pays more in the US than Canada
Education has more impact on pay in the United States than in Canada, posits research from the Bank of Canada.
Wage cuts less likely in less flexible markets
Research from Norges Bank finds that it is more difficult to cut wages in economies where labour markets are less flexible.