Research
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Central bank refinancing greatly lowers banking risk – ECB paper
Paper uses data on post-crisis eurozone to calculate effects of refinancing rate on risks facing banks
Reforms cut risk-taking by G-Sibs – ECB paper
Researchers say reforms may have at least partly resolved “too big to fail” problem for largest banks
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
Austrian paper estimates effects of European helicopter money
Researchers use data on likely consumption of windfall income from survey of 17 European countries
Global fraud framework needed as digital transactions rise – report
Covid-19 has forced consumers to trust new payment methods, but it could come at a cost
Bank of Finland research looks at ECB’s effects on eurozone equities
Researcher says eurozone monetary easing has raised eurozone equities’ expected risk premia
DNB survey looks at factors driving trust in financial system
Authors use data from DNB survey of Dutch consumers of financial services
Sticky prices play key role in monetary policy responses – ECB paper
Author finds different US industries’ react very differently to monetary policy decisions
BIS paper explores impact of sterilised FX interventions
Authors say economic and financial stability implications of intervention have been understudied
‘Combination’ forecasts can beat standard methods – RBI paper
Traditional inflation-output relationship seems “broken”, authors say
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
ECB paper offers model for timely response to financial risks
Framework should allow policy-makers to act rapidly in response to rising risk, authors say
BIS paper models credit booms and busts
Authors outline heterogeneous-agent framework that could support macro-prudential policy
BIS paper delves into new fintech database
Authors investigate rise of “big tech credit” in many economies
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
Bank of Canada sets out pandemic-adjusted CPI methodology
Pandemic triggered rapid shift in consumers’ spending habits
Deeper EU capital markets will improve risk sharing - BdF paper
Researchers present new methodology to estimate cross-border financial risk sharing in the EU
Bank of Spain paper warns over eurozone’s public debt
Individual eurozone countries likely to be more vulnerable due to recent debt increases, paper says
Investment fund sector needs stress tests – Bundesbank paper
Researchers say their model finds investment firms can magnify losses from global asset price shock
BIS research maps out links between banks and non-banks
First attempt at global mapping reveals significant scale of interconnections
Flu pandemic of 1918 hit poor economies hardest – ECB paper
Researchers say evidence indicates lower income countries may be worst hit by Covid-19
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say
Central banks are using biased estimates of pass-through – BIS paper
Standard measures exchange rate pass-through fail to account for market power, researcher argues