Research
Assessing the effects of fiscal policy with estimated and calibrated models: BoJ paper
Bank of Japan research shows some difference in impact of fiscal policy based on model used to measure it
IMF paper reconsiders association between public debt and long-term yields
Paper focuses on possible spillover effects of large advanced economies’ debt levels to other economies’ borrowing yields, especially in emerging markets
Capital preservation measures create moral hazard: Bundesbank research
Bundesbank dicussion paper finds that capital preservation measures create moral hazard in banks
Philly Fed paper investigates relationship between oil prices and exchange rates
Working paper shows little systematic relation between oil prices and the Canadian-US dollar exchange rate
Baby boomers sell-off may depress equities: SF Fed paper
San Francisco Federal Reserve study says demographic shifts in US may present headwinds for stock markets
Bank of Albania finds no misalignment in value of lek
Bank of Albania study shows adoption of floating exchange rate regime in Albania has maintained equilibrium level of real exchange rate
One-third of higher liquidity provisions were strategic: ECB paper
European Central Bank study says change in some banks’ bidding behaviour during the crisis reflected their strategic response to competitors
Inflation expectations consistent with expected utility theory: NY Fed paper
New York Federal Reserve study shows inflation expectations do affect agents’ economic decision-making process
Unconventional tools can ease interbank lending: ECB paper
European Central Bank study says repo haircuts can help boost interbank lending during crisis
Capital inflows must be better monitored: BoJ paper
Bank of Japan study says framework to monitor capital inflows must be improved to reflect increase in volume
Market discipline averted subprime chaos: Central Bank of Brazil paper
Central Bank of Brazil says subprime mortgage crisis did not cause serious problems in Brazil due to good regulation and transparency
Oil-price volatility driven by speculation: ECB paper
European Central Bank finds evidence of switch in oil-price regime in 2004 towards speculative demand
Fiscal policy in Cemac region strongly procyclical: IMF paper
Fund study finds evidence of procyclical nature of fiscal expenditure in Cemac countries
ECB paper identifies source of slump in global trade
European Central Bank study says numerous components of final expenditure contributed to sharp decline in global trade during financial crisis
High markups can exacerbate downturns: IMF paper
Fund study finds evidence that high markups in South Africa creates monetary policy asymmetries
Bank of Finland paper assesses China’s two-track system
Bank of Finland study explains why monetary policy in China uses a combination of price and quantitative instruments
Bank of Japan paper on success of Japan’s deregulation initiative
Bank of Japan study says deregulation in Japan has been broadly successful
Forecasting with multiple interest rates: Bank of Canada paper
Bank of Canada study builds augmented version of forecasting tool that includes multiple interest rates
Risks to Korean banking sector have declined: IMF paper
Fund study says Korean banks face less financial and contagion risk since the financial crisis
Outlook rosier towards the East: ECB paper
European Central Bank study says macroeconomic fluctuations look better in the east than west
Financing constraints reduces productivity growth: IMF paper
Fund study finds tighter credit conditions have a negative effect on factor productivity
European ABS purchases pushed yield curve lower: Fed paper
Federal Reserve study says European acquisitions of asset-backed securities contributed to decline in US bond yields pre-crisis
RBNZ estimates economic benefits from hosting major Rugby tournament
Reserve Bank of New Zealand expects the upcoming 2011 Rugby World Cup to add 1.4% to New Zealand’s growth
Exporting raises firm productivity: Bank of Israel paper
Bank of Israel study shows that exporting firms in Israel are on average more productive than non-exporters