Research
Public finances in a small developing economy
BOOK - The Governor of Central Bank of Barbados, Marion V. Williams, has written a book titled Managing Public Finances in a Small Developing Economy - The case of Barbados.
System approach for measuring the Euro area NAIRU
RESEARCH - This working paper from the ECB is co-written by Silvia Fabiani and Ricardo Mestre. The paper attempts to extend the analysis of a euro area-wide measure of the NAIRU, using time-series techniques rather than more structural approaches.
Central Bank of Norway Financial Stability Report
REPORT - The Central Bank of Norway, Norges Bank, has published its Financial Stability report, May 2001.
Monetary Authority of Singapore Quarterly Report
RESEARCH - The economics department of the Monetary Authority of Singapore has published its May 2001 Quarterly Report on Financial Markets.
Pricing of interbank payment services
RESEARCH - John A Weinberg, Vice President and Economist at the Federal Reserve Bank of Richmond has written a discussion paper titled 'The Pricing of Interbank Payment Services in a Changing Competitive Environment'. The paper was completed while he was…
Monthly economic report from Bank of Japan
Japan - The Bank of Japan published its monthly monetary policy report of recent economic and financial developments on 21 May.
Bank Indonesia will keep stable monetary policy
INDONESIA - Bank Indonesia said on 15 May that it will consistently maintain a prudent monetary policy and that high inflationary pressures are likely to be a great challenge until the end of the year.
ECB monthly bulletin May 2001
EUROPE - The European Central Bank has published its monthly bulletin for May 2001. It considers economic developments in the euro area, framework and tools of monetary analysis, and the new capital adequacy regime - the ECB perspective.
The effect of pessimism and doubt on asset returns
RESEARCH - Andrew Abel analyses the effects of pessimism and doubt on asset returns in a working paper published by the Federal Reserve Bank of Philadelphia.
The "too-big-to-fail" policy in Japan
RESEARCH - Mark Spiegel and Nobuyoshi Yamori of the Federal Reserve Bank of San Francisco analyse evidence from market equity values of the too-big-to-fail" policy in Japan in a working paper for the economic research department of the Federal Reserve…
Financial Policy and Central Banking in Japan
BOOK - A new book by T. Cargill, M. Hutchison and T. Ito analyses how the bank-dominated financial system - a key element of the oft-heralded "Japanese economic model" - broke down in the 1990s and spawned sweeping reforms.
Bank of England revamps its web site
UK - The Bank of England has transformed its online presence with a complete makeover to its external website and details on the Centre for Central Banking Studies handbooks.
Financial Stability and Central Banks
BOOK - This book is published by the Bank of England and includes papers presented at the banks 7th annual Central Bank governors' symposium in June 2000. The 2000 symposium considered financial stability and the role of central banks.
OECD Economic Outlook
RESEARCH - The OECD's Chief Economist, Ignazio Visco, presented the analysis and projections contained in the Economic Outlook No. 69 at a news conference at OECD headquarters in Paris on 3 May. The publication is available in English, French and German…
Good news reported by latest Fed Beige Book
RESEARCH - More evidence that the US economy has turned a corner after a steep six-month slide is reported in the latest Beige Book summary of regional economic conditions.
A Simple Model for Inflation in Brazil
RESEARCH - Working Paper No. 18 from the Bank of Brazil develops a model to investigate the transmission mechanism of monetary policy. The paper also describes the results of stochastic simulations designed to investigate the behaviour of various optimal…
Price level convergence and inflation in Europe
A paper by John H. Rogers at the Federal Reserve "Price level convergence, relative prices, and inflation in Europe" finds evidence to support the concept of price level convergence and investigates the extent to which divergence of national inflation…
Bank of Canada report
REPORT - The Bank of Canada released its semi-annual Monetary Policy Report on May 1.
Working papers from the Bank of England
The Bank of England has released four working papers addressing ICT spending in the UK; the real interest rate gap as an inflation indicator; sticky prices, and trends in UK company profitability.
International Economic Review article
RESEARCH - Jon Faust and Lars E. O. Svensson of the Board of Governors of the Federal Reserve, writing in the International Economic Review, define and study transparency, credibility, and reputation in a model where the central bank's characteristics…
Financial Regulation in South Africa 2000
Book - The South African Reserve Bank has published a book on the theory and practice, goals, trends, and instruments of financial regulation. It is titled "Financial Regulation in South Africa 2000" and is co-authored by Hans Falkena, Roy Bamber, David…
Monitoring the European Central Bank 3
BOOK - The Centre for Economic and Policy Research has published the third in its series of books monitoring the European Central Bank titled "Defining a Macroeconomic Framework for the Euro Area". It is co-authored by Alberto Alesina, Olivier Blanchard,…
International monetary policy cooperation
CENTRAL BANK RESEARCH - Giancarlo Corsetti and Paolo Pesenti at the New York Fed have written a staff report titled "International Dimensions of Optimal Monetary Policy". This article finds that the gains to be made from international monetary…
Developments in the Japanese government bond mkt
CENTRAL BANK RESEARCH - The Bank of Japan has published a new reseach paper "Market Participants' Behavior and Pricing Mechanisms in the JGB Markets". In this paper, which is based on interviews with market participants, the authors explore various…