Research
Monetary policy helped curb inflation expectations – research
Higher rates could achieve a “soft landing” if the expectations channel is strong enough, authors say
Climate change increases inflation risks – ECB paper
Both level and volatility of inflation could increase due to rising temperatures, researchers say
Fed research looks at second-round effects of oil price inflation
Late 2022 oil price rally could cause inflationary pressure as late as mid-2025, paper finds
Credit lines can amplify stress – NBER paper
Study finds junk-grade firms draw more credit, and drawdowns can worsen liquidity shocks
ECB paper analyses impact of Chinese financial shocks
“China shocks” affect global commodities and equities, but less than US equivalents, researchers find
ECB paper studies ESG ratings’ effects on debt costs
Downgrades had only temporary effect on US firms’ bond spreads, researchers find
Smaller US banks face unequal real estate risk, paper says
St Louis Fed research finds lenders hold 40% to 75% of commercial real estate debt
More female Stem workers could boost Japan’s productivity – study
Tackling gender pay gaps and discrimination against female researchers could accelerate growth
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
US-China trade is falling, Fed researchers find
Fall driven by advanced technology trade, but other US allies are not following suit, paper finds
BIS names top journals for central bank research
Not all of the top five general economics journals make the list, and finance journals miss top spots
No stablecoin has always been able to maintain parity – paper
Authors warn there is no guarantee that issuers can redeem stablecoins on demand
Sweden faces lower employment and labour force growth
Integration of foreign-born citizens is key to keep expanding labour force, says Riksbank research
Asian bond spreads with US not widening, BIS research finds
Central banks’ actions have decoupled EME bonds from stronger dollar, researchers say
‘Conceptual complexity’ has risen in BoE publications, research finds
Conceptual complexity plays central role in expectations, understanding and trust, authors find
BIS releases guide to tackle ‘complex’ offline CBDC design
Trade-offs include privacy and security to meet jurisdiction-specific objectives
Decentralised finance has outpaced regulation – ECB paper
Technology with ‘no legal personality’ poses financial stability risks
Firms’ pricing power was driver of generalised inflation, paper finds
Supply shocks gave firms cover to raise prices without losing sales, authors find
Ring-fencing protects retail banks, but lowers total equity value
BoE research finds concentrating risks in one group of banks depresses asset prices
Paper explores shifting drivers of Beveridge curve
Authors say job openings and unemployment data are not enough to judge prospects of a soft landing
Global big tech regulation needed, says BIS paper
Researchers advocate for an activity-based approach as big tech overtakes fintech in some economies
Liquidity impacts monetary policy transmission – BoE paper
Hedge funds play key role in transmission at longer maturities, authors find
Balance sheet data can help gauge systemic risk, ECB paper says
Researchers present methodology for assessing large and small lenders based on SRisk measure
Natural disasters can trigger capital flight – Bank of Italy paper
International investors move funds out of EMEs but not advanced economies, researchers say