Research
Deutsche Bundesbank Monthly Report, January 2003
REPORT - The Bundesbank said in its January 2003 monthly report that there were further job cuts and unemployment increased significantly. The price climate in Germany at the end of 2002 remained favourable. The rate of consumer price increase remained…
Bank of England Inflation Report, February 2003
REPORT - The Bank of England published its quarterly Inflation Report for February 2003 on Wednesday. In the report the Bank reduced its growth forecast for the UK economy to 2.5 per cent this year from 3 per cent. On the euro-zone economy the report…
IMF Working Paper Series
RESEARCH - The Working Paper 'Inflation Targeting Regimes' classifies countries that define their monetary policy framework by an inflation target into full-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes…
Reserve Bank of Australia quarterly statement
PRESS RELEASE - The latest quarterly statement on Monetary Policy has been released by the Reserve Bank of Australia today.
IMF paper on current issues in monetary policy
RESEARCH - 'Current Issues in the Design and Conduct of Monetary Policy' by Mohsin S. Khan, Director, IMF Institute, International Monetary Fund. The paper says that recent developments have brought to the forefront the idea that freely mobile capital,…
IMF Working Paper Series
RESEARCH - In the working paper 'Monetary Policy and Asset Prices: Does "Benign Neglect" Make Sense?' Michael Bardo and Olivier Jeanne of the IMF's Research Department consider the potential case for preemptive monetary restrictions when asset price…
Chicago Fed National Activity Index, December 2002
REPORT - CFNAI shows continued softness in economic growth in December - In December, the Chicago Fed National Activity Index (CFNAI) remained below zero for a fifth consecutive month. The monthly index came in at -0.49 in December, a small improvement…
Sveriges Riksbank Economic Review 4rd Quarter 2002
REPORT - The fourth issue of the Riksbank's Economic Review contains three articles: one on the art of targeting inflation, one on the IRB approach in the Basel Committee's proposal for new capital adequacy rules, and one on reformed management of…
Pagan Report on the Bank of England's Model
REPORT - The Pagan Report on Modelling and Forecasting at the Bank of England, 30 January. Professor Pagan concludes that the model does not represent the 'state of the art'. But he also concludes that the deficiencies of the model have not detracted…
Currency Crises and Macroeconomic Performance
RESEARCH - In the Reserve Bank of Australia Research Paper, 'Currency Crises and Macroeconomic Performance' the authors present some theory and evidence on the implications of sudden currency depreciations for output and inflation. The paper identifies…
CGFS publication: Credit risk transfer
REPORT - Report submitted by a Working Group established by the Committee on the Global Financial System, credit risk transfer, January 2003.
Does the Beige Book move financial markets?
RESEARCH - In the Atlanta Fed Working Paper 'Does the Beige Book Move Financial Markets?' the authors examine whether the descriptive content of the Beige Book affects asset prices. Their results indicate that more positive Beige Book reports on economic…
IMF Working Paper Series
RESEARCH - In the paper 'Market Predictability of ECB Monetary Policy Decisions: A Comparative Examination' Kevin Ross tests the idea that surveys of the ECB's monetary framework emphasise the inability of financial markets to correctly predict monetary…
IMF Working Paper Series
RESEARCH - The paper 'Why Do Many Disinflations Fail? The Importance of Luck, Timing, and Political Institutions' published on 15 January considers why so many inflation stabilizations succeed only temporarily. The authors, Javier Hamann and Alessandro…
Bank of Japan Monthly Report, January 2003
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, January 2003, on 24 January. In its report the Bank maintained its assessment of the economy for the second straight month but warned of risks from…
Deutsche Bundesbank Monthly Report, December 2002
REPORT - The Bundesbank said in its December 2002 monthly report that in the summer months, output showed only a slight increase but in terms of domestic demand, households' consumption picked up in particular. The retail trade benefited very little from…
Bank of Canada Monetary Policy Report Update
REPORT - The Bank of Canada on Thursday released its Update to the October Monetary Policy Report. These reports discuss economic and financial trends in the context of Canada's inflation-control strategy.
ECB Monthly Bulletin, January 2003
REPORT - The European Central Bank published its January 2003 Monthly Bulletin on 23 January. In the bulletin the ECB reported that the outlook for economic activity in the euro area has remained broadly unchanged since early December 2002 and economic…
Deutsche Bundesbank Monthly Report, November 2002
REPORT - The Bundesbank said in its monthly report that at present, economic activity is still too weak to relieve the labour market. What is mainly lacking at present, the report says, is some kind of positive outlook which, as experience shows, is…
Philadelphia Fed Business Outlook Survey, Jan 2003
REPORT - Growth in the region's manufacturing sector remains sluggish, according to firms surveyed for the January 2003 Business Outlook Survey. Manufacturing activity in the region is showing improvement, according to this month's Business Outlook…
Kansas City Fed Economic Review, Fourth Quarter 02
PUBLICATION - The Federal Reserve Bank of Kansas City has published the Fourth Quarter 2002 edition of its Economic Review. This edition contains articles from the bank's 2002 Economic Policy Symposium, 'Rethinking Stabilization Policy' - Central Bank…
Chicago Fed Letter, January 2003 Special Issue
REPORT - The latest Chicago Fed Letter is titled 'Any bounce in the economy in 2003?'. The U.S. economy is growing, albeit at a sluggish pace. What can we expect in 2003? After an impressive performance through the recent recession, will consumer…
Philadelphia Fed Business Outlook Survey, Dec 2002
REPORT - Growth in the region's manufacturing sector remains sluggish, according to firms surveyed for the December 2002 Business Outlook Survey. Although indexes for general activity and new orders remained positive for the second consecutive month,…
Reserve Bank of Australia Bulletin, January 2003
REPORT - Bulletin Statistical Tables, data updated to 8 January 2003.