Research
Manufacturing leverage weakens ECB monetary policy – BoI paper
Eurozone industrial firms’ response to policy shocks decreases as leverage rises, researchers find
Network effects magnify impact of US monetary policy – BdF paper
Researchers find that impact of US monetary policy is increased by complex cross-border interactions
Claudio Borio says central bank independence is tied to globalisation
Both are underpinned by the same “economic and political zeitgeist”, the BIS economist says
India’s approach to national biometric ID applicable to ‘all economies’
BIS paper examines how India created digital financial infrastructure as a public good
‘Sharp tightening’ can create multiple equilibria – New York Fed paper
“Multimodality” means economy could be stuck in “bad equilibrium” for a long time, authors warn
Brexit uncertainties reduced Belgian exports to UK - NBB paper
Paper looks at impact on exports and imports of uncertainty caused by Brexit referendum
Dutch corporate sector is key source of current account surplus
SMEs save to finance investment due to higher borrowing rates than large companies
‘Green finance’ standards ineffective with smaller firms – BdF paper
Banks lend to smaller firms irrespective of their industries’ polluting records, researcher says
Effects of Irish and Dutch macro-pru differ strongly – DNB paper
Researchers look at interaction of monetary and macro-prudential policy in two eurozone economies
BIS paper examines economic impact of macro-pru
Shocks are similar to monetary policy but transmission differs, researchers say
Brexit opens opportunity for EU’s capital markets union – research
Future EU-UK relations limited by Brussels’ focus on preserving integrity of internal market
Atlanta Fed develops new data app
App provides access to Fed bank’s most popular data points and tools
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
ECB paper presents new measure for global financial cycle
Researchers say global financial cycle and large capital flow episodes show consistent links
PBoC’s monetary policy framework not likely to change – RBA research
Institutional structure and economic development model prevents alignment with international peers, paper argues
Eurozone bond purchases work as stabilisation tool – BoI paper
Researchers simulate effectiveness of sovereign bond purchases against both real and financial shocks
ECB paper examines low inflation’s impact on Asia
Researchers study impact of downside inflationary shocks on 12 of region’s largest economies
ECB’s QE boosts equity prices beyond fundamentals – DNB research
Negative sovereign bond yields encourage investors to increase exposure to riskier assets
Global climate cycles create varied growth challenges – paper
Changing climate has different impact on growth depending on country’s normal climate, researchers find
Negative rates not to blame for low eurozone bank profitability – Fed paper
Rates and macroeconomic environment only make up third of shortfall, researchers find
Banks could be stuck with riskiest corporate loans during downturn – Fed paper
Researchers say loan syndication may leave banks unable to offload leveraged debt in downturn
Tighter policy in large economies squeezes cross-border banking – paper
US monetary policy shocks play major role in bilateral bank lending – Bank of Spain paper
Kansas Fed paper looks at weak US fraud controls
US has much higher ‘in-person fraud’ rates than three other developed economies, researcher says
China should bolster macro-pru framework – IMF paper
Lack of accurate credit information weakens macro-prudential measures, researchers say