Data
BoE research finds support for Phillips curve in micro data
Authors turn to direct measures of firms’ expectations and employ new instrumental variables in search of empirical support for the Phillips curve
UK watchdog looks to new technology to ‘transform’ bank competition
Use of “open APIs” can enable easy data-sharing, which regulator hopes will give consumers clarity on bank charges and boost competition – though some see flaws in the plan
Network analysis sheds light on systemic risk – BoE paper
Pilot study of derivatives markets makes use of CDS data to map network of interlinkages, finding more than just immediate counterparty ties matter for systemic risk
Granular data aids policy transmission understanding, Draghi says
ECB president highlights “very rich information set” launched this week; involves reporting data on up to 35,000 daily transactions in the money market
Annual inflation in Argentina at 40.3% by year-end, markets say
Inflation seen slowing to less than 16% by end of 2018; results published in new expectations survey, relaunched after the central bank studied examples from abroad
FSB unveils proposals to curb asset management risks
Consultation tackles liquidity mismatch, leverage, op risk and securities lending, with the aim of heading off potential trouble from the recent growth of asset management
Inclusion survey identifies ‘significant gaps’ in data collection
Report published by Irving Fisher Committee on Central Bank Statistics highlights issues around how data is collected, including lack of integration with national statistical frameworks
Central Bank of Ireland to form analytical teams to improve ‘data architecture’
Governor Philip Lane encourages regulators to “embrace” technological advances, while stressing the balance between innovation and consumer protection
BoE launches fintech collaboration
Bank of England is working with fintech firms on innovations to support central banking, including its own distributed ledger; non-bank payment providers to gain direct access to RTGS system
BoJ economists shed light on quality-price dynamics
Study of large database of prices shows how firms take advantage of new product launches to raise prices partly due to higher quality and partly to maintain profits
FSB warns more work needed on shadow banking assessments
Peer review finds implementation of the oversight framework remains at an "early stage"; urges authorities to make a host of improvements, including around data collection
BIS’s Tissot says micro data can plug macro gaps
Data is abundant in many areas, but making micro data work with macro is still proving tricky for statisticians, says BIS head of statistics
Researchers conduct ‘horse race’ of financial crisis early-warning models
Statistical approaches based on machine learning appear to offer more robust early warnings of financial crisis than models based on more conventional techniques, two researchers say
Nonlinear models struggle to outperform VARs, Azerbaijani paper finds
Central bank’s first working paper finds various different nonlinear forecasting models perform poorly against autoregressive and VAR models, and even random walks
Bean welcomes bid to increase ONS access to public data
Reforming the legal framework will improve ONS access to administrative data, former BoE deputy says, adding the ONS must be more proactive in acquiring and producing data
MAS director hails work on natural catastrophe data
Bernard Wee introduces Natural Catastrophe Data Analytics Exchange, aimed at remedying “gappy” expertise in the region
Bank of England to react ‘more cautiously’ to data in light of EU referendum
Uncertainty over referendum to affect macroeconomic data over next few months; inflation rising but still well below BoE target
BoE assumes control of interest rate benchmark
Central bank to take responsibility for overnight benchmark, planning to broaden the transactions underpinning its calculation; WMBA to retain role in calculating and publishing figures
BoE searches for better data on macro-financial links
As part of efforts to crack the UK’s productivity puzzle, the BoE plans improved data-gathering, seeking insight into the impact of capital accumulation and access to finance
Singapore official points to benefits big data offers insurers
Insurers can gain a competitive edge by harnessing insights from big data when designing products, the Monetary Authority of Singapore’s Chua Kim Leng says
AFI’s Hannig sees central banks bolstering resources to drive inclusion
Alfred Hannig expects central banks gradually to increase resources devoted to inclusion as they take more responsibility for the area; Alliance for Financial Inclusion announces independence
Flug outlines state of play on Israeli credit information database
Governor says new database established and operated by Bank of Israel will strike a balance between being comprehensive and relevant; key appointments to follow
FSB looks to gauge risks around collateral reuse
Reusing collateral brings various benefits, but could also pose stability risks, report says; FSB outlines options for measures that could give supervisors a clearer picture of reuse patterns
Research considers why macroeconomic announcements impact asset prices
A working paper published by the ECB weighs the ‘intrinsic value’ of macroeconomic news announcements in the US, finding timing is crucial to maintaining it