Research
Japan: FATF recommendations, anti-money laundering
Report on the Observance of Standards and Codes on the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism for Japan. Prepared by a staff team of the IMF as a background documentation of the periodic consultation with…
ECB Monthly Bulletin, July 2004
The European Central Bank published its July 2004 Monthly Bulletin on 8 July. The high unemployment rate in the eurozone is likely to limit pressure for wage increases and thus prevent the recent rise in oil prices spilling over to other consumer prices…
St Louis Fed's Regional Economist, July 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, July 2004 edition from the St Louis Fed includes the article "Fannie, Freddie and the FHLB". These government-sponsored enterprises continue to make headlines because of…
'The Region' from the Minneapolis Fed, June 2004
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for June 2004. The issue includes 'Prospects for economic expansion' in which Gary Stern speaks on the concepts of resilience, flexibility and productivity. In …
Semiannual Report on Currency and Monetary Control
The Bank of Japan has published a summary of its semiannual report on currency and monetary control for the second half of fiscal 2003. Japan's economic activity started to recover gradually in the second half of fiscal 2003 (Oct 03-Mar 04) led by an…
Can debt crises be self-fulfilling?
Several papers argue that debt crises can be the result of self-fulfilling expectations that no one will lend to a country. This IMF Working Paper says this type of coordination failure can be eliminated by a combination of state-contingent securities…
Fed Reserve Bank of St Louis Review, Jul/Aug 2004
The latest edition of the St Louis Fed's Review for July-August 2004 contains proceedings of the Twenty-Eighth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis and includes articles "Is inflation targeting best-practice monetary…
Norges Bank Inflation Report, July 2004
Norway's central bank, Norges Bank, has published its latest Inflation Report for July 2004. The report says inflation is low and since the March Inflation Report, it has moved in line with projections. Inflation is being restrained by the appreciation…
The development of statistics for EMU - ECB book
The European Central Bank published a book on 2 July recording the work to develop statistics for Economic and Monetary Union (EMU). Part A of the book concerns the preparatory work in the years 1992 - 98. Part B describes the numerous enhancements made…
Reserve Bank of New Zealand Bulletin, Jun 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for June 2004. The June issue contains articles spanning most of the Reserve Bank's core functions including "What drives the New Zealand dollar?". In addition, for the first time the…
Chicago Fed National Activity Index, May 2004
The Chicago Fed National Activity Index May 2004 moved sharply higher, to +0.91, from a downward revised +0.52 the previous month. As was the case in April, production- and employment-related data added the most to May's CFNAI, although each of the four…
St Louis Fed's Central Banker, Summer 2004
The Summer 2004 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries an article "The FACT Act Helps Bankers Mitigate Risks" which says approximately half of all identity-theft claims in the Eighth District…
Evolution and procedures in central banking
The papers in this volume "Evolution and Procedures in Central Banking" were presented at the Cleveland Fed Central Bank Institute's first conference. The articles and discussants' comments in this volume largely focus on two questions: the need for…
Bank of England Financial Stability Review, Jun 04
The Bank of England published its latest Financial Stability Review for June 2004 on Monday 28 June. It contains the Bank's regular half-yearly review of risks to financial stability and measures taken to strengthen the financial infrastructure, together…
Bank of England Inflation Attitudes Survey, May 04
The Bank of England's May 2004 quarterly Inflation Attitudes Survey was published on 18 June. Asked about the future path of interest rates, 71% expected rates to rise in the next 12 months, up slightly from 69% in the February survey.
The Norwegian Banking Crisis
It has been ten years since the Norwegian banking crisis ended. This publication considers the crisis in retrospect and provides a comprehensive, but reasonably compact description in English of the Norwegian banking crisis. It contains six chapters and…
Financial stability and macroeconomic models
The pre-release article to the Bank of England's Financial Stability Review "Financial stability and macroeconomic models" says financial instability is commonly perceived to be costly. But how costly? And why?
NY Fed study sees no sign of US housing bubble
The New York Federal Reserve Bank said in a study published on Tuesday that there is no bubble in U.S. home prices despite the price surge in recent years and even if regional prices do fall, that will not pose a threat to the overall economy.
Bank of England Quarterly Bulletin, Summer 2004
The Bank of England released its Quarterly Bulletin Summer 2004, on 18 June. The Bulletin includes articles titled "Assessing the stability of narrow money demand in the United Kingdom," "Deriving a market-based measure of interest rate expectations," …
Bank of Japan Monthly Report, June 2004
According to the Bank of Japan's June Monthly Report the Japanese economy is "gathering strong momentum" and continues to recover, increased production and corporate profits are having a positive effect on employment, it said.
Federal Reserve Board - Beige Book, June 2004
The Federal Reserve released its June 2004 Beige Book survey on 16 June. The report said that economy activity in April and May continued to expand across the United States.
Philadelphia Fed Business Outlook Survey, Jun 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, June 2004, expansion continued in the region's manufacturing sector with most indicators improved on their May readings.
BIS Quarterly Review June 2004
The BIS June 2004 quarterly review, released 14 June, is divided into two parts. The first analyses recent developments in financial markets, financing flows in banking and debt securities markets, and activity on derivatives markets. The second part…
Bank of Canada Financial System Review, June 2004
The Bank of Canada published its semi-annual Financial System Review on 10 June. Economic forecasts of global growth in 2004 have been revised upwards significantly. In addition, favourable financing conditions and the efforts of firms to restructure…