Research
NY Fed paper highlights risky debt management strategies
New York Federal Reserve study says high levels and maturities of debt risk increasing macroeconomic instability
Czech National Bank paper discusses how inflation targets are set
Czech National Bank study says historical macroeconomic characteristics are factored into officials’ decision to set the level of inflation targets
Fiscal cuts can stabilise macroeconomy: Philly Fed paper
Philadelphia Federal Reserve study shows fiscal retrenchment can, in some circumstances, reduce macroeconomic instability and stimulate economic activity
Recessions and banking crises are strongly interdependent: BoE paper
Bank of England study co-authored by Martin Weale identifies useful indicators that can help predict banking crises
Precautionary price stickiness: Bank of Spain paper
Bank of Spain working paper uses two models to assess price setting
Risk management in central and eastern Europe: Hungarian research paper
National Bank of Hungary releases working paper that looks at risk management approaches in central and eastern Europe
ECB paper highlights limitations of reforms to Stability and Growth Pact
European Central Bank study co-authored by Jürgen Stark says new fiscal surveillance framework will not ensure sound fiscal policies
Philly Fed paper tests accuracy of Phillips curve in forecasting inflation
Philadelphia Federal Reserve study shows accuracy of Phillips curve models in forecasting inflation is highest during economic downturns
De Nederlandsche Bank paper measures flow of trade-based money laundering
De Nederlandsche Bank study shows money laundering through licit exports and imports offers way around stricter anti-money laundering regulations in financial markets
Crisis accelerated EMU development: ECB paper
European Central Bank study says financial crisis gradually sped up institutional development of Economic and Monetary Union
Debt tolerance levels in Central America: IMF paper
Fund study shows level of debt reduction needed to achieve investment-grade credit-rating status
NBD paper assesses impact of credit card surcharge on cash payments
National Bank of Denmark study shows new credit card surcharge did not cause shift towards greater cash payments
IMF paper on enhancing DSGE modelling
Fund study identifies benefits from adopting a richer set of data in dynamic stochastic general equilibrium models
Bank of Portugal paper reviews effects of transport costs on trade
Bank of Portugal study rejects the pure iceberg cost approach used to measure transport costs for exporters
San Francisco Fed paper identifies strong QE signalling channel
San Francisco Federal Reserve study finds strong signalling effect from Federal Reserve’s quantitative easing programme
US and Japan generate largest spillover effects: IMF paper
Fund study finds slow-growing countries benefit most from growth spillover effects from US and Japan
Modern macroeconomics failed to take into account defaults: BoJ paper
Bank of Japan study co-authored by professor Charles Goodhart says modern macroeconomics must incorporate defaults into their models
Riksbank was ‘wrong’ to raise rates: Svensson
Riksbank deputy governor Lars Svensson says Riksbank miscalculated repo rate path and should have followed Federal Reserve with accommodative stance
Public capital productivity is high: IMF paper
Fund study shows that public capital investments explain variations in economic growth in middle- and low-income countries
Financial openness provides incentive for remittances: Netherlands Bank paper
Netherlands Bank study shows greater financial openness attracts higher levels of remittances
Dallas Fed paper identifies sizeable asymmetries in FX and bond markets
Dallas Federal Reserve paper highlights asymmetries between returns of government bond and exchange rates
Housing bubble fuelled by light-touch regulation: IMF paper
Fund study shows light-touch regulation of independent mortgage originators fuelled the US housing bubble
IMF paper identifies most systemically important jurisdictions
Fund study says risk-based surveillance should focus on systemically important jurisdictions
Semi-government bond markets provide liquidity benefits: RBA paper
Reserve Bank of Australia study says semi-government bond market is important feature of Basel III liquidity reforms