Research
IMF paper on protectionist responses to the crisis
Research finds measures resulted in $30-35 billion decline
IMF paper on GCC equity market spillovers
Fund study says Gulf Cooperation Council equity markets were exposed to US and regional losses during crisis
US dollar leading currency peg: ECB paper
European Central Bank study shows US dollar continues to dominate as most used exchange rate currency anchor
BoE paper on development of central banks' lender-of-last-resort function
Bank of England study looks into evolution of clearing and settlements systems and central banks' progression as providers of liquidity
ECB paper on alternative DSGE models
European Central Bank study highlights methods to improve macroeconomic forecasts and monetary policy decisions
Bank of Portugal paper highlights variance in value of money
Bank of Portugal study challenges application of Bertrand competition in currency markets
EMEs more sensitive to risk premiums: IMF paper
IMF study shows a lower risk premium can reduce inflation in emerging economies
Qualitative indicators could have spotted crisis: Buba paper
Bundesbank study highlights importance of qualitative risk assessment in banking supervision
IMF study assesses Asean 5 bond market performance
Fund paper says Asean 5 bond markets compare well with other emerging markets
Sovereign spillovers normalised Asian spreads, says IMF study
Fund paper attributes volatility in Asian sovereign debt markets during crisis to sovereign risk spillovers
ECB study measures impact of corridor width on monetary policy
European Central Bank paper shows width of standing facility corridor has significant impact on volatility of short-term interest rate
Bank of Israel study reviews success of new pension scheme
Bank of Israel paper shows evidence of rise in savings contributions in response to new pension law in Israel
IMF study on financial frictions in EMEs
Fund paper shows developing economies are more exposed to financial frictions than emerging markets
Noyer expects euro area growth to weaken
Banque de France governor Christian Noyer says euro area growth may slow in coming quarter due to scars left on economies from crisis
Central Bank of Iceland paper on exchange rate regimes
Central Bank of Iceland study says floating exchange rate regimes provide little benefit to small, rich economies like Iceland
San Francisco Fed paper on merits of leaning against asset prices
San Francisco Federal Reserve study makes case for monetary policy to lean against asset price movements
Prudential rules ease procyclicality of bank lending: IMF paper
Fund study says rules to lower capital adequacy ratios offer relief to banks and distressed borrowers facing shocks
Oil prices do not follow random walk: Bank of Canada paper
Bank of Canada study attempts to tackle challenges in forecasting real and nominal oil prices
Anchoring inflation eases deflation risks: IMF paper
Fund study on US inflation dynamics shows well-anchored inflation reduces risk of deflation
FDI boosts external balances: IMF paper
IMF study shows central eastern and southeastern Europe region benefited from large foreign direct investment pre-crisis
Bankers underestimate need to recapitalise: ECB paper
European Central Bank study shows bankers’ incentive to recapitalise during periods of crisis are undermined by negative externalities
Bank reserves do not affect lending levels: NY Fed paper
New York Federal Reserve study says bank lending levels are independent of amount of reserves in banking system
BIS paper on regulating mobile banking providers
Bank for International Settlements study calls for bespoke approach to regulating mobile money service providers
BoE paper reviews international transmission mechanism
Bank of England study says shift in international monetary transmission mechanism in 1990 corresponds to changes in United Kingdom’s monetary policy framework