Research
National Bank of Hungary paper measures degree of real wage rigidity in labour market
National Bank of Hungary study says Hungary ranks among the lowest in countries with downward real wage rigidity
High inflation risks further trend drift: Fed paper
Federal Reserve study shows above-average inflation levels have led to periods of uncertainty over trend inflation
IMF paper highlights growth opportunities for Central America
Fund study says better regulation and more open markets can increase growth convergence in Central American countries
New regulatory initiatives pose stability risks: National Bank of Austria paper
National Bank of Austria study says overdose of Tobin tax can lead to severe instability of financial system; ban on short selling increases tail risk
Limited liability leads to excessive risk-taking: IMF paper
Fund study shows excessive risk-taking by banks increases as the interest rate decreases
Skilled graduates key driver for regional growth: NY Fed paper
New York Federal Reserve study says producing skilled graduates contributes to regional economic success
Liquidity concerns explain high level of cash transactions: Bundesbank paper
Bundesbank study says high percentage of cash transactions due to consumers' willingness to monitor liquidity
Credit booms fuelled by lax monetary policy: IMF paper
Fund study says accommodative monetary policy was main driver of credit booms in last half century
Identifying Sifis: Central Bank of Colombia paper
Central Bank of Colombia releases a working paper outlining a method to establish the systemic importance of financial institutions; offers an alternative method to the BIS
Bank of Finland paper explains patterns of privatisation in Russia
Bank of Finland working paper investigates the privatisation of Russian industrial land across regions and firms
Bank of Canada paper captures hot potato effect of inflation
Bank of Canada study finds evidence of hot potato effect in buyers’ spending patterns in response to higher inflation
IMF paper identifies risk-sharing, contagion trade-off in Asia
Fund study shows risk sharing in Asia is found to be low between countries in the region compared with contagion effects
Cleveland Fed paper measures impact on education of late school joiners
Cleveland Federal Reserve study shows that delayed entrance to school and relative age at entry has bearing on children's achievement levels but that many later catch up with peers
G-4 liquidity caused surge in captal inflows: IMF paper
IMF study attributes recent increase in capital inflows towards emerging markets to highly accommodative monetary policies in G-4 countries
Household debts significantly under-reported in surveys: NY Fed paper
New York Federal Reserve study finds substantial gap in credit card debt reporting between consumer surveys and official credit reports
IMF paper identifies new approach to forecasting recessions
Fund study says forecasts for recessions can be improved by adopting formal methods to select data
National Bank of Poland paper forecasts inflation using survey data
National Bank of Poland study says consumer sentiment can be effectively eliminated from inflation expectations in survey data
High teenage unemployment due to crowding-out effect: Fed paper
Federal Reserve study says high rates of teenage unemployment due to increased competition for low‐skilled jobs
IMF paper assesses supervisory burden of regulatory overhaul
Fund study says US Volcker rule and UK retail ring-fencing proposals must be complemented with supervision of bank activities
UK monetary policy not constrained by inflation targeting: BoE paper
Bank of England study co-written by external MPC member Adam Posen says Bank of England has been no less flexible than Federal Reserve under inflation targeting framework
Tail events resemble platypus moment, rather than black swan: RBA’s Ellis
Reserve Bank of Australia head of financial stability, Luci Ellis, says financial supervisors should be alert to rent-seeking behaviour in order to identify looming threats
Systemic capital requirements are often underestimated: BoE paper
Bank of England study examines level of potential losses on bank balance sheets in event of systemic crises
NY Fed paper examines threat to international role of dollar
New York Federal Reserve study says decline in the international role of the dollar should not be a concern if US maintains strong economic growth
BIS paper highlights growing risk of currency crises
Bank for International Settlements paper authored by Professor Robert Aliber outlines role of cross-border money flows in a currency crisis