Research
EC report on lack of financial sector integration
The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector.
Book on Economic Integration in South East Asia
The research department of the Nepal Nastra Bank's international financial division recently published a book on economic integration in South East Asia.
Estimating China's 'equilibrium' real ex rate
This IMF Working Paper looks at a sample of studies that have attempted to estimate the "equilibrium" real value of China's currency. It suggests the wide variation in such estimates can be explained by various factors including the different…
IMF Paper on international reserves
The IMF Working Paper "International reserves: Precautionary vs. mercantilist views, theory, and evidence" compares the importance of precautionary and mercantilist motives in the hoarding of international reserves by developing countries.
Legal aspects of European System of Central Banks
The European Central Bank published a book on Wednesday 26 October . The book contains a collection of articles on the European Union and the ESCB, the Eurosystem, monetary law, central bank independence and central bank statutes as well as on financial…
NY Fed Staff Paper on Treasury securities
The U.S. Treasury announced in August 2005 that it is exploring whether to provide a backstop securities lending facility for U.S. Treasury securities. The New York Fed Staff Paper "Why is the U.S. Treasury contemplating becoming a lender of last resort…
Monetary policy predictability in the euro area
This Norges Bank Working Paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries.
Monetary policy & asset prices: To respond or not?
This Working Paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
Has financial development made the world riskier?
This paper by Raghuram Rajan discusses the implications for monetary policy and prudential supervision of an increase in financial-sector-induced turmoil for some economies, due to developments in the financial sector.
Financing conditions in the euro area
According to this Occasional Paper from the ECB, for central banks, the monitoring of financing conditions plays a pivotal role in assessing the actual transmission of monetary policy impulses to borrowers.
Norges Bank paper on monetary policy, asset prices
A Norges Bank Working Paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
Financial de-dollarization: Is it for real?
De facto (unofficial) dollarization, defined as the holding by residents of assets and liabilities denominated in a foreign currency, is a policy concern in an increasing number of developing economies, according to this IMF Working Paper published on…
IMF paper on inflation-targeting central banks
The IMF Working Paper "Governance structures and decision-making roles in inflation-targeting central banks" surveys decision-making roles of governing bodies of central banks that have formally adopted inflation targeting as a monetary framework.
Bank system stability: cross-Atlantic perspective
This ECB Working Paper derives indicators of the severity and structure of banking system risk from asymptotic interdependencies between banks' equity prices.
ECB paper on exchange rate communication
The ECB Working Paper "How successful are exchange rate communication and interventions? Evidence from time-series and event-study approaches" analyses whether communication and actual interventions in FX markets are successful in moving exchange rates…
The political economy of seigniorage
While most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional, and economic reasons for relying on it, according to the IMF Working Paper published Tuesday.
Monetary policy predictability in the euro area
This Norges Bank Working Paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries.
IMF Staff Papers, Vol 52, No 2, 2005
The latest issue of the IMF Staff Papers published Monday 12 September includes a special section on Central Bank Financial Strength, presenting a collection of papers including "Central bank financial strength, transparency, and policy credibility".
Inflation targeting in Mauritius
The IMF Working Paper "'Inflation targeting lite' in small open economies: The case of Mauritius" develops a new macrofinance model for small open economies, allowing the investigation of Mauritius's experience with 'inflation targeting lite'.
Asian central banks pledge to enhance integration
The Monetary Authority of Singapore and the International Monetary Fund (IMF) jointly hosted a high-level seminar on Asian regional financial integration on 3 September 2005.
Central banking and supervisory challenges
The IMF is holding a conference 'Financial Stability - Central banking and supervisory challenges' in Washington on 6-7 September. The conference will address key financial stability issues posing challenges to central bankers and supervisors around the…
Atlanta Fed paper on credit and identity theft
This working paper from the Atlanta Fed looks at the phenomenon of identity theft. It says that ultimately society may have to find a level of theft that balances its preference for privacy with its tolerance for transaction fraud.
Papers from 29th Kansas Fed Symposium
Papers presented at the Federal Reserve Bank of Kansas City's 29th annual economic policy symposium, The Greenspan Era: Lessons for the Future, held August 25 - 27 in Jackson Hole, Wyoming, were published on Wednesday 31 August.
Atlanta Fed on the origins of central banking
This Working Paper from the Atlanta Fed outlines a model of the first true central bank, the Bank of Amsterdam, founded in 1609. It describes how it was able to control inflation in seventeenth- and eighteenth-century Netherlands.