Research
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.
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.