Research
Smaller MPCs rely more on staff views
The use of staff-policy recommendations by central banks' monetary policy committees is negatively related to the size of the rate-setting board, research published by the National Bank of Hungary finds.
Poor institutions hinder fiscal policy
The quality of nations' institutions impacts the effectiveness of fiscal policy, research published by the Central Bank of Chile finds.
An agent-based model of payment systems
A new research paper by the Bank of England lays out a multi-agent, multi-period model of a Real-Time-Gross-Settlement system.
Divorcing money from monetary policy
By paying interest on reserve balances at the central bank's target interest rate, a central bank can increase the supply of reserves without driving market interest rates below its target, says a new paper from the New York Federal Reserve.
Dollar less important when reserves abundant
The share of the dollar in global foreign currency reserves falls when reserve levels increase, finds a new paper from the European Central Bank.
R&D not essential for export success
Innovation does not necessarily boost firms' export performance, finds a new paper from the Central Bank of Chile.
Domestic inflation influenced by global factors
Common shocks, similar policy reactions, international trade and financial links are significant common components in global inflation rates, finds a new paper from the St Louis Federal Reserve.
Financial globalisation promotes stability
Financial globalisation fosters domestic macroeconomic stability, finds a new paper from the San Francisco Federal Reserve.
Inflation dynamics in Turkey
A new paper from the Central Bank of Turkey examines monetary pressures and inflation dynamics in the domestic economy.
Focusing on headline could induce volatility
Policies that react to headline inflation can induce different macroeconomic effects than those reacting to core inflation, a new paper from the Federal Reserve Board finds.
Integration raises solvency risks
More financial integration and innovation increases the risk of market and liquidity stress resulting in insolvency, a new paper from the International Monetary Fund finds.
Errors in inflation forecasts
A new paper from the Central Bank of Chile assesses inflation forecasts from the Survey of Professional Forecasters for forecast errors for the period 2000 to 2008.
US rates and dollar influence commodity prices
Shocks to US real interest rates and the dollar exchange rate lead to fluctuations in commodity prices, new research from Norges Bank indicates.
Gold standard and price-level targeting
A new paper from the Bank of Canada compares the gold standard and with price-level targeting regime.
Local lenders apply tougher credit standards
Collateral requirements are more stringent for business loans granted by local lenders than those granted to firms further away, a paper published by the Bank of Spain finds.
Benefits of mixed ability classes
Highly capable students gain from mixing with average students, finds a new paper from the Boston Federal Reserve.
Crime and the city
Arrests follow crime, but an increase in arrests does not necessarily lead to a decrease in crime, finds a new paper from the Federal Reserve of St Louis.
Emerging market policy cited for smaller spreads
Better macroeconomic policies are behind the low spreads on emerging markets' sovereign debt, a new paper published by the Bank of Canada finds.
Fiscal discipline an essential investor benchmark
A country's primary balance - its fiscal balance minus any interest payments - is an important signalling device to investors regarding sovereigns' commitment to repay debts, finds new research form the Central Bank of Turkey.
Portugal: components of exports shifting
The share of Portugal's exports of parts and components has more than doubled since the late 1980s, a new paper from the country's central bank states.
Bank of Canada Review - summer 2008 edition
The Bank of Canada has published the spring edition of its Economic Review.
Turkey: past FX intervention worked
Direct foreign-exchange market interventions carried by the Central Bank of Turkey between 2002 and 2005 led to a fall in predicted volatility in the foreign-exchange market, a new paper from the central bank finds.
Real exchange rates and monetary policy
Reserve Bank of Australia, the Bank of Canada and the Bank of England pay close attention to real exchange-rate movements, while the Reserve Bank of New Zealand does not, new research from the Bank of Canada finds.
Unemployment rate and benefits relationship
A new paper from the Federal Reserve Bank of Philadelphia investigates the impact of unemployment benefits on the jobless rate.