Research
Asset managers should face minimum cash levels – ECB paper
Researchers say macro-prudential measure would improve market allocation of financial resources
Paycheck protection facility supported lending – Fed paper
Study finds liquidity facility helped banks lend more to small businesses during the Covid-19 crisis
BoE paper highlights link between mortgage limits and consumption
Authors find “new link” between down payment requirements and household consumption
Chilean central bank measures country’s carbon footprint
Study aims to create methodology to assess emissions and develop plan to cut footprint
Central clearing of Treasuries could cut disruption – NY Fed paper
Central clearing could have avoided most settlement failures during Covid-19 crisis, authors say
Central bank ‘activism’ risks long-run costs, paper argues
Central banks acting outside their mandate is “never without cost”, law professor says
ECB paper measures economic uncertainty in eurozone
Researchers present method to monitor changes in uncertainty in eurozone and its trading partners
Foreign banks can reduce harm of ‘doom loop’ – ECB paper
Cross-border banks in eurozone countries soften effects of sovereign stress on credit
Macro-prudential tools can boost long-run growth – BoE paper
Authors develop theoretical framework linking financial frictions to long-run growth
Curbing booms could cut carbon emissions – BIS paper
Overheating economies can misallocate resources to carbon-heavy industry, authors find
Black applicants face US mortgage discrimination – Philadelphia Fed paper
Lower approval rate cost Black Americans more than $200 billion between 1994 and 2018
Emerging markets should prepare for higher rates – IMF article
Middle and low-income economies need to anchor fiscal policies after the pandemic is under control
Macro-pru can alleviate stress – Portuguese paper
Co-ordinated macro-prudential and fiscal policies can alleviate credit contractions, paper finds
Capital and liquidity rules work better together, BoE paper finds
Literature review finds having both requirements is better than just one, but “significant gaps exist”
Biden stimulus will not move inflation much – Chicago Fed paper
Research finds most models predict very limited and short-term increases
Covid-19 support may have created “zombie firms” – BIS economists
Policy-makers should impose tighter lending standards and reform bankruptcy law, analysts argue
MMT rests on ‘untested statements’ – Richmond Fed paper
Authors warn that modern monetary theory rests on shaky foundations
Demand for US services likely to rebound- Cleveland Fed survey
Study says US consumers have become more optimistic, except older people
MMFs should increase public debt investment – ECB paper
Regulatory framework for money market funds has “fragilities”, researchers argue
‘Bottom-up’ approach can improve inflation forecasts – BoE paper
Item-level inflation data contains useful information for forecasting, authors find
BIS launches database on Covid-19 monetary policy actions
Data designed to help researchers study “massive” policy response to pandemic
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
Richmond Fed: is US ready for digital dollar?
Brief argues there are questions to answer before embarking on CBDC
Newspaper text can improve growth forecasts – DNB research
Sentiment index can cut errors in short-term forecasts, study finds