Research
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
US-China trade is falling, Fed researchers find
Fall driven by advanced technology trade, but other US allies are not following suit, paper finds
BIS names top journals for central bank research
Not all of the top five general economics journals make the list, and finance journals miss top spots
No stablecoin has always been able to maintain parity – paper
Authors warn there is no guarantee that issuers can redeem stablecoins on demand
Sweden faces lower employment and labour force growth
Integration of foreign-born citizens is key to keep expanding labour force, says Riksbank research
Asian bond spreads with US not widening, BIS research finds
Central banks’ actions have decoupled EME bonds from stronger dollar, researchers say
‘Conceptual complexity’ has risen in BoE publications, research finds
Conceptual complexity plays central role in expectations, understanding and trust, authors find
BIS releases guide to tackle ‘complex’ offline CBDC design
Trade-offs include privacy and security to meet jurisdiction-specific objectives
Decentralised finance has outpaced regulation – ECB paper
Technology with ‘no legal personality’ poses financial stability risks
Firms’ pricing power was driver of generalised inflation, paper finds
Supply shocks gave firms cover to raise prices without losing sales, authors find
Ring-fencing protects retail banks, but lowers total equity value
BoE research finds concentrating risks in one group of banks depresses asset prices
Paper explores shifting drivers of Beveridge curve
Authors say job openings and unemployment data are not enough to judge prospects of a soft landing
Global big tech regulation needed, says BIS paper
Researchers advocate for an activity-based approach as big tech overtakes fintech in some economies
Liquidity impacts monetary policy transmission – BoE paper
Hedge funds play key role in transmission at longer maturities, authors find
Balance sheet data can help gauge systemic risk, ECB paper says
Researchers present methodology for assessing large and small lenders based on SRisk measure
Natural disasters can trigger capital flight – Bank of Italy paper
International investors move funds out of EMEs but not advanced economies, researchers say
Paper offers new method for measuring natural rate
Authors say use of natural experiment leads to much smaller errors
Commercial real estate poses financial stability risks – research
Researchers say current strength of commercial real estate loans may not persist
Policy ‘pivot’ can deliver soft landing, says NBER paper
Authors aim for more realistic model of expectations through “level-k thinking”
‘Buy now, pay later’ may target the financially fragile – NY Fed
Researchers warn sector may not be resilient
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
‘Illiquid lemon markets’ can worsen crises – NBER paper
Authors extend George Akerlof’s Nobel prize-winning work to the macroeconomy
OECD says interest rates should stay high ‘until well into 2024’
Report says monetary policy needs to stay tight until underlying inflationary pressures are lowered
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years