Research
Bank of Finland paper studies impact of China’s credit channel
Monetary policy’s effects on credit have significant impacts on economic activity, researchers say
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
Central banks should use direct lending in shocks – BIS paper
Lending to firms directly could reduce welfare loss during financial shocks, researchers say
ECB’s asset purchases didn’t always stimulate bank lending – research
Sounder banks reduced lending to non-financial firms, Bundesbank paper finds
Eurozone bank productivity growth fell over last decade – ECB paper
Researchers try to quantify eurozone banks’ total factor productivity growth
Sterling’s fall boosted UK inflation - San Fran Fed paper
Prices of tradeable goods rose significantly more than non-tradable goods, researchers find
BDF paper presents model for larger stress-tests
Model can be used to analyse impact of macro-prudential measures, authors say
ECB paper models eurozone’s vulnerabilities
Model can be used to predict build-up of major macroeconomic imbalances, researchers say
Government assets are just as important as deficits – IMF research
Borrowing costs are determined by structure of public assets
London to remain major financial centre despite Brexit
Research at the Central Bank of Ireland highlights the “premium” the UK capital enjoys over other cities
BoI paper uses shadow rates to measure influence of QE
Fed’s policy weakened dollar from 2011–14, researchers find
Bank of Spain study looks at growing rental market
Stagnant incomes, regional disparities and falling loan-to-value levels are pushing growth in renting
Hurricane forecasting has ‘significant effects’ on financial markets – Fed
Cutting forecast errors could reduce additional volatility, researchers say
Dallas Fed paper looks at impact of tech shocks
Researchers exploit forecast data for “more precise” identification of technology shocks
‘Night-time luminosity’ can shed light on growth – RBI paper
Satellite data is useful as a high-frequency indicator of economic activity, authors find
Two-thirds of countries failing to meet global standards on inflation – IMF paper
More than half the world has not updated CPI weighting in the last five years, researchers find
Sovereign default risk affects bank assets – Bank of Italy paper
Researchers look at data on bank assets from 15 countries from 2004–18
Higher inflation expectations can cut consumption – research
Authors conduct randomised control trial to test “forward guidance puzzle”
Fed researchers gauge tightening from balance sheet normalisation
Tightening is ‘modest’ compared to accommodation provided by asset purchases, researchers find
BIS paper highlights new channel for Mundellian ‘dilemma’
Authors weigh financial channel as explanation for why trilemma has become dilemma
Raising CCyBs could have ‘greatly mitigated’ 2008 crisis – St Louis Fed paper
Policy-makers could have avoided a fall in aggregate consumption of 21%, researcher finds
Climate change will hit US growth hard – Dallas Fed study
US growth could fare worse than China’s with projected temperature rises, researchers find
Canadian collateral can withstand crisis-level systemic risk – BoC paper
Trading by bank customers could be a potential indicator of future crisis, researcher says