Research
Bank of Israel: FX intervention successful
Bank of Israel study shows rise in frequency of foreign currency interventions caused depreciation in shekel-dollar exchange rate
IMF: currency crises studies inaccurate
Fund research finds earlier studies on currency crises fail to identify volatile market fundamentals
IMF on luck and labour markets
Evidence from cricket shows a good first job has persistent positive impact on long-term career outcome, Fund study says
Firms have cut reliance on debt financing: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says businesses have raised equity and looked to their profits for funding
ECB: monetary policy could have prevented the crisis
European Central Bank study finds low benchmark rate had significant role in lax lending standards before crisis
BIS: interbank markets are hierarchical
Bank for International Settlements study finds evidence of tiered interbank market in Germany
T&T solves remittances anomaly
Central Bank of Trinidad and Tobago study explains drop in remittances to developing world
Bank of Canada: central banks prefer higher haircuts
Bank of Canada study shows haircuts on collateralised assets is greater when central banks cannot lend exclusively to illiquid institutions
St Louis Fed: forward rates provide investors little advantage
St Louis Federal Reserve study says informational value of longer term forward rates provides no additional economic benefits
Philly Fed: school failure insurance reduces dropout rates
Philadelphia Federal Reserve study says introduction of insurance against college failure risk could increase retention rate
RBA develops more robust monetary policy model
Reserve Bank of Australia study uses sign restriction VAR models to explain exchange rate puzzle in measuring monetary policy
Riksbank: inefficient labour markets distort growth
Riksbank study shows inefficiencies in output are related to the inefficient allocation of labour in the United States
IMF: Gulf bank balance sheets severely impaired by economic downturn
Fund study finds link between economic conditions in Gulf states and banks’ nonperforming loans in region
IMF: low income countries lack proper monetary policy framework
Fund study shows monetary transmission mechanism in low-income countries is less effective due to institutional deficiencies
Polish banking sector curbed growth in crisis
National Bank of Poland study shows banking sector played significant role in economic slowdown during financial crisis
ESRB big leap for Europe: Trichet
European Central Bank president Jean-Claude Trichet says launch of European Systemic Risk Board indicates significant progress in regulatory architecture
RBNZ: carry trade reversed depreciation in NZD
Reserve Bank of New Zealand study shows high yielding currencies gradually offset declines in New Zealand dollar during crisis
IMF on link between collateralised borrowing and systemic risk
Fund study says rapid declines in the value of bank collateral can cause systemic risks
BIS on renminbi management
Bank for International Settlements research results consistent with the renminbi having been managed in 2006-08 against a basket of currencies
CEPR advocates rule-based approach to central bank projections
Centre for Economic Policy Research study says central bank projections based on interest rate rule yield same results as one on market expectations
SF Fed: SWFs trump central banks on foreign investment returns
San Francisco Federal Reserve study shows central banks are more risk averse than sovereign wealth funds, producing lower average returns on investments in foreign assets
ECB: excess liquidity expansion induces financial fragility
European Central Bank study shows that over expansion of credit can lead to increased fragility in financial markets
BoJ: consumption tax hike insufficient to balance budget
Bank of Japan study says consumption tax increase and moderate growth unlikely to return country to fiscal sustainability
BoE: consumption volatility explains global decline in real interest rate
Bank of England study shows lower global real interest rates caused by higher consumption volatility in traded goods