Research
Bank of Canada, Monetary Policy Report, April 2004
The Bank of Canada released its April 2004 Monetary Policy Report on 15 April. The Report reviews economic and financial trends in the context of Canada's inflation-control strategy.
Bank of Japan Monthly Report, April 2004
The Bank of Japan published its April 2004 Monthly Report of Recent Economic and Financial Developments on 13 April. In the report the BOJ said that the prospects for a sustained economic recovery remained bright.
RBNZ paper on inflation targeting central banks
This RBNZ paper tests the standard quadratic approximation to central bank preferences on data from Australia and New Zealand, two of the earliest explicit inflation targeting countries.
Reserve Bank of New Zealand Bulletin, Mar 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for March 2004. The March issue contains three articles and a speech given by Reserve Bank Governor Alan Bollard earlier this year on asset prices and monetary policy.
ECB says stance in line with price stability aims
The European Central Bank published its April 2004 Monthly Bulletin on 7 April. The bank said its monetary policy stance remains in line with its target of maintaining price stability. "The low level of interest rates provides ongoing support to the…
Independent evaluation of ECB research activities
The ECB released a report on Wednesday 7 April of an evaluation of the economic research activities at the ECB. The report provides a positive assessment of the research conducted at the ECB on several criteria, including scientific quality and relevance…
RBA Financial Stability Review, March 2004
The Reserve Bank of Australia has published the first edition of its new report, the Financial Stability Review for March 2004. The report will be published every six months.
St Louis Fed's Regional Economist, April 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2004 edition from the St Louis Fed includes the article "Miscommunication". What the Fed said last year it could do if deflation surfaced was one thing. What the…
The Japanese Economic Model: JEM
This Bank of Japan Working Paper sets out the Japanese Economic Model, a large macroeconomic model of the Japanese Economy. Although the JEM is a theoretical model it can be used for both projection and simulation analysis.
Survey of developments in e-money
The Committee on Payment and Settlement Systems (CPSS) has published its March 2004 Survey of developments in electronic money and internet and mobile payments. In this survey the number of participating central banks and monetary authorities has…
Sveriges Riksbank Inflation Report, No.1, 2004
Sweden's central bank, the Sveriges Riksbank, has published its First Inflation Report for 2004. The report said that there are increasingly clear signs that the Swedish economy is about to recover, after an unusually mild economic downturn. Inflation…
Back to the future? Assessing the deflation record
This BIS Working Paper looks back to a period when deflation was a regular feature of the economic environment, and says the phenomena comes in three basic types: the good, the bad and the ugly. It finds that despite periods of deflation it was not…
Return and volatility spillovers In Hong Kong
Laurence Fung and Ip-wing Yu discuss the effects of return and volatility spillovers in Hong Kong financial markets.
Foreign investment in emerging market economies
New CGFS publication and press release on the importance of financial sector foreign direct investment in bringing emerging market economies into the global financial system.
Central bank financial independence
This Bank of Spain Occasional Paper says that central bank independence is a multifaceted institutional design but the financial component has rarely been analysed. The paper sets out a comprehensive conceptual background for central bank financial…
Philadelphia Fed Business Outlook Survey, Mar 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, March 2004 activity in the region's manufacturing sector continues to improve.
Bank of Japan Monthly Report, March 2004
The Bank of Japan published its March 2004 Monthly Report of Recent Economic and Financial Developments on 18 March. In the report the BOJ kept its economic assessment unchanged, saying the economy was in a gradual recovery.
RBNZ's FX intervention background paper
Background information on the proposal of the Reserve Bank of New Zealand to extend the purpose for which it holds foreign exchange reserves. A capital injection into the RBNZ will be required to enable the Bank to absorb unrealised, temporary losses…
RBNZ's 2004 Monetary Policy Challenge
The Reserve Bank of New Zealand is again hosting the Monetary Policy Challenge this year. The Challenge is aimed at secondary school economics students and is designed to expand their understanding of monetary policy.
Bank of England Inflation Attitudes Survey, Feb 04
The Bank of England's February 2004 quarterly Inflation Attitudes Survey was published on 15 March. Asked what would be best for the British economy on interest rates - 23% thought they should go up, the highest outturn since the series began. The…
RBNZ Monetary Policy Statement, March 2004
The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for March 2004. Speaking at the release of the Statement Governor Alan Bollard said New Zealand has continued to enjoy a period of sustained economic growth over recent…
ECB Monthly Bulletin, March 2004
The European Central Bank published its March 2004 Monthly Bulletin on 11 March. The Bulletin reported that the main scenario of a continued gradual recovery in the course of 2004 and 2005 remains valid.
BIS Quarterly Review March 2004
The BIS September 2003 quarterly review, released 8 March, said global equity markets rallied in early 2004 due to investors strong risk appetite, not just economic and corporate fundamentals.
St Louis Fed's Central Banker, Spring 2004
The Spring 2004 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on the new plans for the Little Rock and Louisville branches after the restructurings are complete, and the senior vice president…