Research
IMF identifies early indicators of bank weakness
Research from the International Monetary Fund identifies a set of indicators and thresholds to distinguish between sound banks and those vulnerable to financial distress.
Labour markets matter for ECB policy
Disturbances in the wage-bargaining process are a significant contributor to inflation and output fluctuations in euro-area, a paper from the Philadelphia Federal Reserve finds.
Was subprime possible to predict?
Research by the Boston Federal Reserve finds that market participants should have predicted the steep rise in foreclosures that occurred in 2007 and 2008.
Are commodities useful indicators of inflation?
Commodity prices are significant indicators of inflation, research published by the Bank of Canada posits.
New BoJ discussion paper series
The Bank of Japan published a new issue of its online discussion paper series.
Inflation dynamics uncovered
A new paper from the Kansas City Federal Reserve examines the dynamics of various measures of national, regional and global inflation.
Monetary policy should consider intermediaries
The size of the balance sheets of market-based financial intermediaries are important macroeconomic state variables for monetary policy, finds a paper published by the New York Federal Reserve.
Government should not give in to fear
The government should not capitulate when the public shows an excessive fear towards risk, says a new paper from Harvard's John F. Kennedy School of Government.
Innovation impacts money demand
Technological developments affect average money holding and interest elasticity of money demand, research from the Bank of Italy notes.
Banking system stability measures - a new model
A paper from the International Monetary Fund, co-authored by Charles Goodhart, a former member of the Bank of England's Monetary Policy Committee, presents a new method for estimating the impact of stability measures on the banking system.
Government spending ineffective
Government spending shocks have a small effect on GDP and lead to crowding-out effects on private sector investment, a paper from the European Central Bank posits.
Financial intermediation affects labour shares
Financial intermediation plays an important role in the determination of labour shares in the national income, research from the Bank of Canada finds.
Equity market interdependence on the rise
The interdependence between equity markets in the United States and the East Asia-Pacific regionl has risen steadily since early 2006, research from the Hong Kong Monetary Authority finds.
The monetary-policy lag and inflation targeting
Central banks and governments should set a relatively high inflation target when confronted with a long monetary-policy lag and a zero nominal bound for interest rates, research from the Bank of Canada posits.
Banks and liquidity: a theoretical view
A model analysing the interbank market and liquidity crises indicates that banks need to be more liquid.
Explaining America's Great Inflation
Acceleration of US inflation in the 1960s caused by Bretton Woods the exit and the Treasury's role in defending the dollar, say Michael Bordo and Barry Eichengreen, in a new paper.
Communication key in inflation targeting
Communication is crucial in limiting the damage to central bank's credibility associated with overshooting inflation targets, notes a new paper from the International Monetary Fund.
New model for anticipated structural changes
New research from the Reserve Bank of Australia develops a model that is relevant for monetary policy which can allow for anticipated structural changes.
Eichengreen: ideology slowed response to crisis
Ideology delayed US officials in taking necessary steps after the credit crisis erupted, says Barry Eichengreen, a financial historian based at the University of California, Berkeley, in a new paper.
How individuals remit funds internationally
A research briefing from the Federal Reserve Bank of Kansas City describes means by which individuals make international remittances.
How Fed decisions impact share prices
The Federal Reserve's interest rate decisions impact equity prices around the globe. However, the impact varies considerably between firms. Research from the Fed uncovers several factors which account for these variations.
Canada inspired Mundell-Fleming model
Canada's experience with both an open capital account and floating exchange rate in the 1950s created the open-economy macroeconomics field, a paper from the Bank of Canada posits.
Competition lowers bank-market spreads on loans
Banks price their loans more in line with the market interest rate in countries with stronger loan market competition, says a new paper from the Bank of Spain.
Balassa-Samuelson revisited
A new paper from the Bank for International Settlements finds that Balassa-Samuelson effects are clearly present in 11 euro accession countries and that these explain around 24% of inflation differentials vis-a-vis the euro area.