Research
Negative monetary policy effects from declines in pledgable collateral: IMF paper
Fund study says reuse of pledgable collateral by banks and dealers contributed to dry-up of liquidity during global financial crisis
Credit-leading indicator to trigger countercyclical buffer phases: BIS paper
Bank for International Settlements study shows that credit-to-GDP ratio is best indicator for build-up and release phases of countercyclical capital buffers
Bank bail-outs risk instability in emerging market economies: IMF paper
Fund study says emerging markets are at risk of creating further macroeconomic instability by injecting money into financial system
Central Bank of Brazil paper on designing an effective macroprudential framework
Central Bank of Brazil study says macro-prudential tools can adversely influence monetary policy transmission mechanism
BIS paper identifies lending threshold to bank recapitalisation efforts
Bank for International Settlements study shows recapitalisation of banks will only boost lending once balance sheets are sufficiently strengthened
Undercapitalisation of banks raised financial distress during crisis: ECB paper
European Central Bank study shows that size, capitalisation of banks and degree of credit expansion contributed to stress in banking sector during the crisis
BIS paper examines effects of negative asset price bubbles in Asia-Pacific
Bank for International Settlements study shows underpricing of assets in Asia-Pacific caused cross-border spillovers
Bank of Canada paper evaluates degree of banking stress in high-income countries
Bank of Canada study shows high-income countries dominated capital flows and experienced largest banking sector stresses during crisis
Brics funding to low-income countries is risk-weighted: IMF paper
Fund study shows degree of loans concessionality to low-income countries is negatively correlated with risk profile
Price stickiness reduces productivity gains and job creation: Bank of Korea paper
Bank of Korea says less rigid prices and more elastic demand can heighten effects of productivity on job creation
Portugal less vulnerable to global price shocks: Bank of Portugal paper
Bank of Portugal study finds the country has one of the lowest price elasticities of external demand in the euro area
Commodity futures help forecast spot prices during periods of turmoil: IMF paper
Fund study shows futures-based forecasts of commodity spot prices still tend to outperform a random walk during periods of volatility
Argentina crisis lessons for Europe: CEPR paper
Centre for Economic Policy Research study says beleaguered eurozone countries can learn from Argentina’s financial crisis
Precautionary savings not limited to prudent consumers: IMF paper
Fund study finds evidence risk-taking consumers can also generate precautionary savings
Religion and culture influence economic preferences: ECB paper
European Central Bank attempts to address long-standing debate between sociologists Karl Marx and Max Weber on causal effect between religion and the economy
Cleveland Fed paper outlines benefits of new early-warning system
Cleveland Federal Reserve study assesses latest model for developing early-warning systems to highlight build-up of systemic risk
BoE paper identifies large variation in UK price behaviour
Bank of England study shows significant variation in probability of price changes in microeconomic studies into UK consumer price index
BoE paper identifies strong habit-formation in savings
Bank of England study finds length of precautionary savings incentive during periods of volatility is often underestimated in monetary policy models
Central bank communication crucial to formation of market expectations: ECB paper
European Central Bank paper shows effective use of communication on policy choices has important impact on market expectations
IMF paper explores unemployment drivers in Latin America
Fund study links high and persistent levels of unemployment in Latin American countries to disinflationary monetary policy regimes
ECB paper highlights renminbi’s prominence in Asia
European Central Bank study says China’s growing dominance in Asia is key driver of currency movements in region
Rule of thumb is inaccurate method to design reserves policy: IMF paper
Fund study says economic reforms are a more durable policy than international reserves at mitigating effects of external shocks
St Louis Fed paper captures effect of crisis on composition of FDI
St Louis Federal Reserve study says rise in cost of capital during financial crisis left some US industries experiencing volatile foreign direct investment flows
Cash is still king in low-value transactions: Bank of Canada paper
Bank of Canada study shows cash is still used intensively for low-value transactions due to its speed, merchant acceptance and low costs