Research
Diverging regulatory policies could spell trouble for banks, report says
Deloitte says there are obvious signs of regulatory divergence as regulators and supervise focus on national policies
‘Key currencies’ affect patterns of global imbalances – BIS paper
Authors say it is important to think about a “dollar zone” not just the dollar
Causes of liquidity traps are ‘crucial’ to policy response – BdF paper
Liquidity traps caused by investor deleveraging may not respond to QE, researchers say
EME banks have ‘substantially’ increased global footprint – BIS research
Study finds emerging market banks have taken a greater role as their home economies have grown
Fed’s communications may outweigh rate changes – Bundesbank paper
Researchers look at impact of Fed announcements and policy changes from 1994 to 2008
Releasing liquidity can encourage banks’ ‘gambling’, ECB paper argues
ECB paper analyses Portuguese authorities’ response to banking crisis
Google’s data tool has potential for countries with data gaps – IMF research
Authors explore how search queries can be used to track human behaviour, which could be used to map macroeconomic indicators
Yield curve inversions may become more frequent, researchers say
Richmond Fed study examines relationship between term premium and yield curve inversion
Fed paper examines impact of liquidity rules on dealers
Dealers changed behaviour in response to reforms, but de-risking was already under way, paper finds
BoE paper outlines DSGE model of financial and real frictions
“Channels of effect” run between financial markets and labour markets, authors find
RBA authors try to estimate banknotes’ whereabouts
Information is sparse on the period between a banknote’s issuance and its destruction
Lack of monetary autonomy ‘central’ to eurozone debt crisis – researchers say
Spain would have been ‘immune’ to rollover debt crisis outside eurozone – Minneapolis Fed paper
Bundesbank paper looks at effects of sanctions regimes
German banks cut activity in sanctioned countries but subsidiaries may increase lending, paper finds
Communication of monetary policy took back seat in financial crisis, researchers find
ECB press conferences transmitted non-monetary information in 65% of cases from 1990 to 2017, researchers find
Bank lending standards can worsen financial frictions, ECB paper finds
Model shows tighter lending standards can damage productivity, researcher argues
New US tariffs have varying impact on prices – Canadian research
Over the long term, tariffs have “modest impact” on aggregate prices and output, but there are likely to be short-term price movements as sectors face capacity pressures
PBoC’s policy communication could improve - IMF paper
Central bank’s communications should be more timely and accessible, researchers say
Fed’s emergency lending facilities eased funding pressures, researchers find
Facilities likely avoided severe sale of assets at fire-sale prices, authors say
French banking crisis of 1930s far worse than previously thought – BdF paper
Central bank policies worsened crisis, Banque de France paper says
Non-bank lending could replace interbank market – Atlanta Fed paper
Basel III capital requirements and Fed’s QE are reducing US interbank lending, researchers say
US inflation likely to fall below target – San Francisco Fed
Factors unrelated to economic cycle have increased their contribution to price increases in 2018
ECB and EBA action may have limited CoCo contagion – BoI paper
Deutsche Bank CoCos spread volatility throughout European banks in 2016, researchers find
Brexit vote has hurt UK investment – IMF paper
Researcher presents proxy term for UK firms’ exposure to Brexit costs
QE has persistent impact on foreign exchange, researchers find
European Central Bank QE caused euro to fall 12% against dollar - Dallas Fed paper