Research
Fed paper asks if affordable housing law led to subprime lending
Federal Reserve Bank of St Louis working paper asks whether affordable housing legislation in the US contributed to the subprime securities boom
IMF paper discusses strengthening Russia's fiscal framework
Working paper from IMF researchers sets out ways Russian fiscal policy is straying from best practice and suggests improvements
National Bank of Hungary studies voting by MPC members
Research from the Hungarian central bank finds evidence that preference heterogeneity is random among the members of the policy-setting committees at the central banks of Poland and Hungary
IMF paper looks at long-term prosperity in China
IMF research suggests China could enhance long-term income by implementing reforms to weaken protection of monopolies and encourage entry in all industries
Fed working paper studies inflation risk premium
New Federal Reserve Board working paper uses evidence from Treasury inflation protected securities market to investigate inflation risk premiums
ECB working paper proposes indicator of systemic stress
European Central Bank researchers outline a new indicator of contemporaneous stress in the financial system, called the composite indicator of systemic stress
Netherlands Bank working paper studies media impact on debit card use
Research finds “significant” impact of newspaper articles about skimming fraud on same day debit card usage
IMF paper looks at exchange rate volatility and currency pegs
Recent IMF research paper investigates the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes
Bank of Canada paper studies central counterparties in repo markets
New Bank of Canada discussion paper looks into impact central counterparties have on a model of a repo market; finds stabilising elements
IMF paper studies impact of regulation and taxation on banking
IMF researchers investigate the impact of bank regulation and taxation in a dynamic model with banks exposed to credit and liquidity risk
BIS study looks at financial volatility prediction
Bank for International Settlements researchers investigate the prediction of financial volatility using economic variables
IMF paper studies bank asset quality in emerging markets
IMF research paper finds significant links between banks' asset quality, credit and macroeconomic aggregates
Philippines economic newsletter looks at roots of financial crisis
Central Bank of the Philippines investigates international claims and cross-border lending during the global financial crisis
IMF paper analyses corporate investment in India
International Monetary Fund research paper looks into how the business environment affects corporate investment in India, which has been sluggish since the financial crisis
Fed paper studies the effect of Tarp on bank risk-taking
Discussion paper says the increase in risk-taking without an increase in lending following Tarp capital injections “is suggestive of moral hazard due to government ownership”
Buba discussion paper uncovers secrets of board risk-taking
Researchers find board changes that result in more female executives at banks can lead to increased risk-taking; executives with PhD qualifications reduce risk
BIS working paper studies collateral requirements
Research estimates collateral requirements for mandatory central clearing of over-the-counter derivatives; finds major dealers already have ample assets to meet initial margin requirements
Boston Fed continues research into payments
Researcher Scott Schuh adds to 2010 research into payments; finds rising cost of debit cards reduces their use
Dutch working paper investigates risk preferences
Netherlands Bank working paper provides new field of evidence on risk preferences over small stakes
Bank of Japan paper studies currencies and commodities
New research paper from the financial markets department at the Bank of Japan examines the relationship between so-called commodity currencies and commodity prices
IMF research analyses Brazil's high interest rates
IMF research paper assesses high interest rates in Brazil; suggests country could move towards lower rates if domestic savings increase to levels found in other emerging markets
Bank of Portugal studies synchronisation of macroeconomic fluctuations
Research paper expands on the assessment of synchronisation of macroeconomic fluctuations across countries and regions; past assessment has been crucial for the debate on economic integration
Bank of Canada working paper investigates market movers
New research looks into whether central bank communications or media reports impact markets more
Reserve Bank of India working paper studies gold prices
Research looks at the links between gold prices and financial stability in India