Research
EMs gain less from GenAI adoption than AEs – BIS study
Service economies with strong digital and legal frameworks best placed to benefit from AI
Mutual funds amplify FX sensitivity to capital flows – study
Investment in Swiss bonds increasingly linked to franc’s value, SNB paper finds
NBFIs grew twice as fast as banks in 2024, FSB finds
Annual report highlights strong growth in investment funds but flags lack of data on private credit
Central banks finding new ways to tackle uncertainty – BIS study
Policy-makers using more scenario analysis and high-frequency data, survey finds
European lenders are making polluters pay – ECB study
Firms looking to fund projects near ‘biodiversity-sensitive’ areas face worse borrowing conditions
Manufacturing will not be jobs engine in US – St Louis Fed study
Authors say periods of rising productivity in sector have been accompanied by drops in employment
US policies could create challenges for MAS – Amro report
Singaporean central bank confident risks from possible capital inflows can be managed with existing tools
Tariffs may permanently raise medical goods costs – NBER study
Research also finds that trade barriers can worsen domestic supply shortages
US inflation expectations hold steady in November – NY Fed
Latest survey shows increasing concerns over medical costs and financial welfare more generally
Public backstop complements private liquidity – BoE paper
Wholesale funding conditions improve even without banks tapping lending facilities, researchers find
Minimum haircuts must be carefully designed – BIS bulletin
Funding- and collateral-driven trades incentivise different repo terms, authors point out
Insurers make disasters worse for eurozone governments – ECB study
Resulting sell-offs of short-term debt push up sovereign borrowing costs, research finds
Rise of NBFIs suggests gradualism is best policy – BIS bulletin
Institutions’ uncertain effects on transmission warrant flexibility from central banks, says study
AI agents can manage liquidity, researchers find
BIS/BoC paper encourages policy-makers to lay groundwork for broader adoption in financial markets
BIS paper proposes simpler Basel capital framework
Authors say ‘capital stack’ is too complex and does not provide enough resilience to some shocks
Private liquidity insurance improves stability – BIS study
Yet prospect of central bank interventions can crowd out market, authors say
BIS paper explores how central bankers’ lives shape policy
Officials who have experienced high inflation tend to be more hawkish, researcher finds
€25K handouts would not affect labour market – ECB paper
Stimulus packages are effective in raising consumption, researchers argue
BoE paper highlights ‘cost-of-carry’ channel of monetary policy
High inventory levels can boost transmission, authors say
CBDC technical design has little impact on demand – BoK study
Working paper also finds that interest-bearing retail instruments attract more interest
Advanced economies’ debts are ‘unsustainable’ – research
US, Japan and European nations need to get their fiscal act together, says study by Belgian central bank