Research
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
Virus impacts consumer credit more than restrictions – Fed paper
“Pandemic itself” was main driver of credit contraction in US, not lockdowns, paper finds
Shadow banks play key role in business cycle – BoE paper
Contraction in securitisation can spill into wider credit conditions, researchers say
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Evidence of central bank research bias is ‘mixed’ – RBA paper
Results contrast with another recent study that found bias in research on QE
Largest banks’ funding advantages grew in pandemic – research
Biggest banks’ perceived risk advantage grew after onset of Covid-19, researcher finds
BIS paper tests impact of macro-pru on non-banks
Domestic and foreign prudential policies have opposite effects on non-bank share, authors find
Corruption in Aruba is increasing, central bank survey shows
Citizens believe government has “no real will” to fight corruption and may benefit from it
Bank efficiency has little effect on Chinese monetary policy – Finnish paper
Chinese banks with very high or low loan-to-deposit ratios are most affected, researchers find
Frequent recessions push up US unemployment rate – paper
Cleveland Fed research says two decades of growth would produce 3.6% unemployment
ECB paper analyses US home ownership
Labour market dynamics and rising house prices account for generational inequality, researcher says
BIS paper seeks to overcome flawed Chinese growth statistics
Authors use regional data to circumvent “flat” GDP time series
Only climate policy risk priced in US equity markets – research
US political debate is only “wake-up call” for investors, who seem to disregard physical risks
Epidemics cause delayed political unrest – IMF paper
Infectious disease outbreaks lead to upheaval after health crisis has passed, researchers say
BoE paper seeks origin of systemic risk
Network analysis tool can overcome problems with other approaches, authors say
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
House price distortions slow European growth – Estonian paper
Misaligned prices amplify business cycles in short run but damage growth over long run – researchers
Monetary unions might benefit from taxing external debt – DNB paper
Policy would reduce adverse effects of shocks to risk premia on sovereign debt, researchers find
More capital could increase lending during pandemic – paper
Philadelphia Fed research finds capital injections and lower requirements would both increase lending
Penalty fears drove US funds’ March run – NY Fed paper
Research finds “sophisticated” investors respond to asset signals but retail investors do not
RBI paper tracks impact of rising transparency on expectations
Research uses text mining to study changing degree of transparency at the RBI
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
Bundesbank paper estimates effects of Fed’s QE policies
Purchases of private securities were most expansionary measure, researchers find