Europe
Italian bail-outs may set bad precedent, ECB supervisor warns
But recent resolutions show system is working well operationally, Angeloni says
Draghi and Yellen issue warnings on regulatory rollback
The two central bankers used their speeches at Jackson Hole to focus on the dangers of abandoning the lessons of 2008
Latvian central bank unveils instant payments system
System is the first to be compatible with the Single Euro Payments Area project, says the bank
ECB paper presents new measure for monitoring real estate vulnerability
Aggregated measure out-performs most models as predictor of past crises, authors say
Draghi’s ‘whatever it takes’ is not credible – Nobel laureate
Chris Sims says ECB cannot be sure it will be able to stop a run on the euro until it is backed by a central eurozone fiscal authority
EU countries must stop state-funded bail-outs, Bundesbank board member argues
Use of state funds to bail out banks “not in the interest” of legislators, Dombret says
ECB criticises government of Cyprus over new central banking legislation
Collection of information on individual debtors is a “government task”, ECB says
Opaque money markets work well, Nobel laureate says
Bengt Holmström says policymakers should not try to make money markets more transparent
Public spending shocks work better when households are confident- paper
Government spending stimulus reduces household confidence as it confirms pessimism regarding the economy, paper argues
QE has positive spillovers into south-eastern Europe, ECB paper says
Some countries experience stronger inflationary effects than eurozone - researchers
QE has not increased eurozone inequality - ECB’s Constâncio
Low-income households benefit most from stimulus, ECB vice-president says
European yield curve calculation regulations should change, ESRB says
Last liquid point, ultimate forward rate and convergence point should all change, report argues
European insurance resolution needs major reform – ESRB
Insurance sector’s contribution to systemic risk has increased but current tools are insufficient, report says
ECB cautions Slovenia over ‘critical infrastructure’ draft law
Legislation should not encroach on the central bank’s regulation of payments systems, says ECB
ECB council worries about euro’s strength, though recovery continues
Minutes of July’s monetary policy meeting suggest low inflation warrants loose policy, but recovery is gathering momentum
Archive – EMU: a sceptical US view
Allan Meltzer of the American Economic Association explains why he is worried about a union by the back door; first published in November 1997
Lithuanian paper examines interplay between European housing and credit
Panel-like econometrics may give misleading results, authors warn
German court refers ECB bond purchases to ECJ
“Doubtful” whether PSPP is authorised by German and European law, says court
DNB paper looks at Fed’s use of credit swap lines
Federal Reserve used currency swap lines to calm markets in worst of crisis, paper says
Credit spreads’ limited use as short-term predictors – paper
Researcher examines the accuracy of three sets of credit spreads
Esma backtracks on account segregation
Esma opts for minimum EU-wide account segregation requirements
Where have all the women gone?
The number of women working at central banks has increased substantially, but a glass ceiling appears to remain for those reaching for senior management positions
Record-high FX reserves prompt new questions for SNB
Reserves reach $734 billion as Swiss franc depreciates against euro
Fiscal multipliers significantly higher at effective lower bound, paper says
Researchers use data from 17 advanced economies for the period of 1960–2015