Research
European Central Bank Working Paper No 194
RESEARCH - ECB Working Paper, "Sensitivity analysis of volatility: a new tool for risk management" by Simone Manganelli, Vladimiro Ceci and Walter Vecchiato, November 2002.
Bank of England Inflation Report, November 2002
REPORT - The Bank of England published its quarterly Inflation Report for November 2002 on Wednesday. In the report the bank recognises the fragility of the world economy and continued stock market volatility. The report reveals that inflation is…
Bank of Canada Review, Autumn 2002
REPORT - The Bank of Canada published its Review for Autumn 2002 on 12 November. The review contains articles titled, Is Canada Dollarized?, CLS Bank: Managing Foreign Exchange Settlement Risk and Purchasing-Power Parity: Definition, Measurement, and…
FRBSF Economic Letter - Stock Market Volatility
RESEARCH - In this Economic Letter from the Federal Reserve Bank of San Francisco the author surveys the academic literature on the properties and causes of stock market volatility, focusing on the debate on whether the stock market varies excessively,…
RBA Statement on Monetary Policy, November 2002
REPORT - The Reserve Bank of Australia released its November 2002 Statement on Monetary Policy on 11 November. In the statement the RBA divide the year into two distinct phases with emerging optimism characterising the first half. However the second…
Central Bank of Brazil Working Paper
RESEARCH - The paper 'Inflation Targeting in Brazil: Lessons and Challenges' by Andre Minella, Paulo Springer de Freitas, Ilan Goldfajn and Marcelo Kfoury Muinhos assesses the first three years of the inflation-targeting regime in Brazil adopted in July…
Bank of Canada Working Paper
RESEARCH - Bank of Canada Working Paper by David Andolfatto, Scott Hendry, and Kevin Moran, October 2002. Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional…
International Monetary Fund Working Paper
RESEARCH - International Monetary Fund Working Paper 'Transparency and International Investor Behavior' by R Gaston Gelos and Shang-Jin Wei. The paper looks at whether country "transparency" affect international portfolio investment and finds that…
The ECB and Euro-Area Enlargement
RESEARCH - IMF Working Paper by Helge Berger, October 2002. The likely enlargement of euro-area membership will radically change the environment under which monetary policy will be made in the euro area. This paper looks at the consequences of such an…
Danmarks Nationalbank Monetary Review, 3rd Quarter
REPORT - Denmark's central bank has published its Monetary Review 3rd Quarter 2002. The report contains articles including, Recent Economic and Monetary Trends, Status of the Basle Committee's New Capital-Adequacy Rules for Bank, Structure of the Banks'…
Sveriges Riksbank Economic Review 3rd Quarter 2002
REPORT - The Economic Review contains articles titled, The yield curve and the Riksbanks signalling, Consolidation in the Swedish banking sector: a central bank perspective and An evaluation of forecasts for the Swedish economy.
Chicago Fed National Activity Index September 2002
REPORT - CFNAI Indicates Economic Growth Remained Slow in September - The Chicago Fed National Activity Index (CFNAI) remained below zero for a second month in September, coming in at -0.35 in September, up from -0.45 in August.
MAS Guidelines on Sound Risk Management Practice
REPORT - On 30 October the Monetary Authority of Singapore published its Guidelines on Sound Risk Management Practices. This set of guidelines aims to provide banks, merchant banks, finance companies and insurance companies (referred to collectively as …
Philadelphia Fed Business Outlook Survey
REPORT - Activity in the region's manufacturing sector weakened this month, according to firms surveyed for the October Business Outlook Survey. Indicators for general activity, new orders, and shipments declined from their readings in September. Overall…
IMF report on the Policies of the Euro Area
REPORT - International Monetary Fund Staff Report on the Monetary and Exchange Rate Policies of the Euro Area. The report includes sections on movements towards greater central bank transparency, predictability of central bank interest rate decisions,…
Norges Bank's Inflation Report 3/2002
REPORT - Norway's central bank published its third and final Inflation Report for 2002 on 30 October. The Inflation Report discusses developments in the Norwegian economy and other factors that influence the inflation outlook. Developments in the…
Why Britain should join the euro
REPORT - Joining the euro will deliver rising prosperity for Britain - but failing to do so soon will put our hard-won economic success at risk, a group of Britain's leading economists argue in a report published 15 October by pro-European campaign group…
Financial structures in the euro area
REPORT - The European Central Bank (ECB) released a report on financial structures in the euro area on 25 October. The report describes the financial structure of the euro area as a whole and of the individual euro area countries, recent developments in…
National Bank of Hungary paper on the euro
RESEARCH - National Bank of Hungary Occasional Papers - 'Adopting the euro in Hungary: expected costs, benefits and timing', edited by Attila Csajbok and Agnes Csermely and released on 28 October.
Bank of Canada Monetary Policy Report
REPORT - Bank of Canada released its October 2002 Monetary Policy Report, 23 October. In the report the Bank of Canada said the Canadian economy has undergone a strong expansion with more rapid growth than all other G-7 countries over the past year…
Federal Reserve Board - Beige Book, October 2002
REPORT - The Federal Reserve Beige Book released 23 October showed that the US economy is struggling to get out of the sluggishness which has now infected retail sales. The report shows the housing market to be the one bright spot in an otherwise weak…
ECB Working Paper Series
RESEARCH - 'Should central banks really be flexible?', by Hans Peter Gruner, October 2002. The paper looks at a model where risk averse trade unions interact with a central bank. Gruner shows that central bank flexibility is not necessarily desirable…
BIS consolidated banking statistics
REPORT - The BIS today released consolidated banking statistics for the Second Quarter 2002. These statistics provide an insight into the nature and extent of banks' foreign exposures, as well as supplementary information about countries' external…
ECB Working Paper Series
RESEARCH - 'Monetary policy and the zero bound to interest rates: a review', by Tony Yates, October 2002. The paper reviews the literature on what the zero bound to nominal interest rates implies for the conduct of monetary policy. A situation familiar…