Central Banking
Monetary policy effects on housing bubble: Bank paper
Bank of England study measures impact of monetary policy and capital inflows on housing activity
Endogenous debt crises: CEPR paper
Centre for Economic Policy Research study says reckless borrowers pose greater threat of sovereign default than poor economic growth
A compromise candidate for the ECB?
Commentators divided on the viability of a compromise candidate for the European Central Bank presidency
Basel alone will not protect us: UK Treasury Committee’s Tyrie
UK Treasury Select Committee chair Andrew Tyrie says fundamental changes to the way banks are supervised a must; tripartite system left no one in charge
Beijing downplays hot money flows
China’s State Administration of Foreign Exchange says hot money flows are “ant-like” relative to size of economy; analysts say results downplay risks of emerging markets overheating
Zhou and Carstens new co-heads of IIF crisis prevention group
People’s Bank of China governor Zhou Xiaochuan and Bank of Mexico governor Agustín Carstens to co-head Group of Trustees at Institute of International Finance working group
Central banks should consider price-level targeting: CentralBanking.com poll
Fifty-three percent of voters in CentralBanking.com poll think central banks should mull switch to price-level targeting framework
Household attitudes are changing: RBA’s Lowe
Reserve Bank of Australia assistant governor Philip Lowe says restraint in household consumption may be a long-term trend
No more bailouts under Dodd-Frank: FDIC’s Bair
Federal Deposit Insurance Corporation chair Sheila Bair says Dodd-Frank Act ensures taxpayer will no longer bear cost of bank failures
Mortgage discounting slows monetary policy pass through: Bank of Canada
Bank of Canada Winter Review 2010–2011 says mortgage-rate discounting slows monetary policy pass-through to lending rates
Bernanke on progress of Dodd-Frank reforms
Federal Reserve chairman Ben Bernanke outlines Dodd Frank reforms in financial stability area
Boston Fed paper on measures of bank output
Boston Federal Reserve study finds bias in methodology statistical agencies’ measurement of bank output
Rebalancing growth in Asia: IMF paper
Fund study examines case for rebalancing growth in Asia through investment-oriented policies
FOMC minutes on why yield curve is steepening
Federal Open Market Committee meeting minutes explain steep rise in long-term Treasury yields
Bank of Finland paper on boom and bust
Bank of Finland proposes model to measure financial frictions in the Finnish economy
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
ECB overnight lending rockets to 19-month high
Banks’ borrowing from the European Central Bank’s marginal lending facility climbs to $21 billion on Wednesday; sudden move has sparked speculation on bank troubles, analysts say
RBA spends $18,000 on governor’s table; refurb could cost up to $68m
Reserve Bank of Australia says refurbishment could set it back A$68 million; big-ticket items include A$18,000 desk for governor Glenn Stevens
Fed’s Kohn appointed to Bank’s FPC
UK government names four external members to interim Financial Policy Committee; former Fed vice-chair Donald Kohn among three ex-central bankers appointed to macroprudential body
Dallas Fed paper on SNB crisis measures
Dallas Federal Reserve case study on success of Swiss National Bank liquidity provisions to foreign banks
RBA minutes: rates on hold as flood damage assessed
Minutes of Reserve Bank of Australia rate-setting meeting relay concerns over impact of floods on economic outlook; cautious over rising commodity prices
Central Bank of Chile paper links instability to austerity
Central Bank of Chile study finds positive correlation between austerity and instability in Latin American countries
Buba study on robustness of monetary policy
Bundesbank research examines whether misspecification may have consequences on robustness of monetary policy decisions
Inflation may hit 5%, but we couldn’t have done it different: King
Bank of England’s Inflation Report says inflation will likely soar further; medium term outlook shifts slightly as spare capacity margin revised downwards