Research
Boston Fed paper reviews Argentina's economic collapse
Boston Federal Reserve study shows higher input costs exacerbated macroeconomic downturn in Argentina during the early 2000s
NY Fed paper identifies causes of US housing bubble
New York Federal Reserve study shows US housing boom was driven by lower lending standards and overly optimistic investors
Bank of Israel paper reviews bond market reforms
Bank of Israel study shows success of reforms to local secondary government bond market were mixed
Domestic factors major contributor to global crisis: ECB paper
European Central Bank study says contribution of systemic contagion effects from US markets towards global crisis are overplayed
Financial stability reports effective communication tool: NBP paper
National Bank of Poland study says central bank communication can reduce market volatility through financial stability reports
BoC paper experiments with price-level targeting
Bank of Canada study finds evidence in support of well-anchored inflation expectations in a price-level targeting regime
Survey-based measures offer benefits over factor models: ECB paper
European Central Bank study says survey-based measures provide substantial forecasting benefits during recessions
Target2 offers useful liquidity monitoring tool: Netherlands Bank paper
Netherlands Bank study says Target2 payments systems can identify early signs of bank illiquidity
Early monetary exit risks return to recession: KC fed paper
Kansas City Federal Reserve study shows an early monetary policy exit can lead to a double-dip recession
RBNZ paper identifies disconnect between labour markets and rest of economy
Reserve Bank of New Zealand study shows bulk of variation in unemployment is due to labour market shocks
Central Bank of Chile paper identifies growth benefits from contracting institutions
Central Bank of Chile study shows effects of contracting institutions on growth are most pronounced in developed, rich countries
Clear central bank communication facilitates greater policy flexibility: IMF paper
Fund study shows clear central bank communication can reduce inflation and interest rate volatility
Fiscal response to crisis eased demand shock: Norges Bank paper
Norges Bank study says intervention by some governments during the financial crisis prevented a sharp drop in demand
Market conditions factor in liquidity costs: ECB paper
European Central Bank study shows price of liquidity systematically depends on bank characteristics and market conditions
Bank-based economies struggle more during recoveries: IMF paper
Fund study shows bank-based economies find it more difficult than market-based economies to recover from economic crises
SNB paper identifies creative destruction effect in competitive markets
Swiss National Bank study expands on Schumpeterian growth models to highlight pro-competitive effects of technology from new entrants
NY Fed paper observes pre-FOMC meeting equity drift
New York Federal Reserve study explores what causes US equity markets to move drastically ahead of a FOMC meeting
Buba paper on circulation of German euro banknotes
Bundesbank study estimates two-thirds of Germany-issued euro banknotes are in circulation outside Germany
Global financial linkages amplified US shocks: IMF paper
Fund study says close financial and trade links between Europe and US magnified effects of US housing market bubble
ECB foreign reserve managers need different incentives; working paper
Research suggests new rewards system for foreign reserve managers would help align results with ECB preferred outcomes
Riksbank paper investigates sectoral inflation
Working paper suggests flaws in past research on the topic
Spain learns from the past; working paper
Analysis of monetary system in the 1800s shows contraction in the money supply had a milder effect on the economy than expected
‘Astronomical’ Chinese reserves under scrutiny: Fed paper
Federal Reserve Bank of St. Louis working paper highlights drawbacks to current global-imbalance literature when trying to assess situation in China
Tail risks and contract design: BoE paper
Bank’s Fisher calls for further debate on where tail risks should be held as leveraged financial institutions pose larger systemic risks