Research
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
NY Fed paper proposes two-tier capital model
New York Federal Reserve study suggests creating a two-tier capital model to solve leverage conflicts
RBA paper reviews unconventional monetary policy measures
Reserve Bank of Australia study says use of long-term interest rates and communication about future short-term interest rate path has merit
Precautionary saving motives necessitate monetary stance revisions: BoE paper
Bank of England study says households’ precautionary saving motives justify accommodative policy bias
Measuring output gap in export-oriented economies: IMF paper
Fund study assess methods to measure output gap in countries facing non-traditional demand pressures
Shirakawa on earthquake response efforts
Bank of Japan governor Masaaki Shirakawa says he feared earthquake would lead to deterioration in business sentiment
Bank of Finland on modelling rational expectations
Bank of Finland study discusses modelling rational expectations in monetary policy framework
QE solution at zero bound: NY Fed paper
New York Federal Reserve paper co-authored by Brian Sack shows quantitative easing successfully eased monetary policy at the zero bound
IMF paper explores measures of default probability
Fund paper investigates methods to measure market price of risk and probability of default
Financial cycle dynamics: IMF paper
Fund study finds financial cycles tend to be long, severe and highly synchronised within and across countries
Bank of Canada paper on enhancing GDP forecasts
Bank of Canada study says pooling methodologies can improve accuracy of GDP forecasts
RBNZ paper on global bond yields
Reserve Bank of New Zealand study finds close correlation between domestic and global bond yields
IMF paper on growing threat of moral hazard
Fund study calls for further incentives and rules to stem threat posed by large systemically important financial institutions
Renminbi revaluation effects on India: RBI paper
Reserve Bank of India study says revaluation of renminbi will impact India’s exports sector
IMF paper on debt dilution
Fund study says commitment to reduce debt levels can eliminate risk of debt dilution
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
Atlanta Fed paper on evolution of US mobile payments
Atlanta Federal Reserve study says unique set of rules necessary for mobile payments industry to evolve in United States
Central Bank of Colombia paper on too-connected-to-fail
Central Bank of Colombia study calls for too-connected-to-fail rather than traditional too-big-to-fail approach
BoE paper on systemic threat of credit rating agencies
Bank of England study says regulatory reforms should reduce reliance on credit rating agencies
CCP reform risks further bailouts: IMF research
Fund study says reforms on central counterparties will not reduce systemic risk and could lead to further taxpayer funded bailouts
Central banks can avert banks hoarding liquidity: NY Fed paper
New York Federal Reserve says central banks can help prevent liquidity hoarding by supplying cash to markets
Crisis reduced Swiss franc activity in money markets: SNB paper
Swiss National Bank study finds evidence of sharp decline in unsecured Swiss franc turnover during recent crisis
High food prices drive political instability: IMF paper
Fund paper shows rising international food prices attributes to political instability in low-income countries
Regulators misprice assets during interventions: Richmond Fed
Richmond Federal Reserve study investigates the accuracy of monitoring bank assets during regulatory interventions