Research
Dallas Fed: Oil shocks driven by supply and demand factors
Dallas Federal Reserve study links variations in oil prices and US growth patterns over past four decades to endogenous shocks
Greece’s fiscal situation far worse than US: Atlanta Fed
Atlanta Federal Reserve study says Greece’s fiscal debts more worrisome than the United States’s
IMF: European debt measurements misleading policies
Fund study says European Union spending cuts neglect impact of policies on future
IMF: democracies outpace autocracies following commodity boom
Fund study shows following an international commodity boom, growth tends to increase in emerging market democracies, but decrease in autocracies
Philosopher says financial crisis puts economics profession into disrepute
Philosopher Philip Mirowski says economists’ outdated theories had a large hand in fueling the financial crisis
BIS: Global banking at a crossroads
Bank for International Settlements study says financial crisis has changed the model for international banking
Turkey: Manufacturing sector very sensitive to monetary tightening
Central Bank of Turkey study shows monetary tightening impacts some areas of the economy more than others
Boston Fed: Real rigidities dampen exchange rate shocks
Boston Federal Reserve study on price rigidities shows intense price competition leads to weak pass-through effects when there is an exchange rate shock
BoJ: productivity underestimated during expansions
Bank of Japan study into labour productivity revisions shows productivity growth is often underestimated during expansions
Boston Fed: poor subsidise card payment transfers of rich
Boston Federal Reserve paper shows low income households subsidise the cost of card payment transfers for high income households through higher relative prices
IMF: high indebtedness depresses growth
Fund study says higher initial debt levels have negative effect on growth
Bank of Canada: firms don’t smooth inventories
Bank of Canada study shows high costs attached to inventories deters firms from smoothing inventory ahead of countercyclical swings
Expansionary policy commitment redundant: Norges Bank
Norges Bank study says low interest rate rhetoric at central banks ineffective under neo-classical Phillips curve model
CEPR: Central banks stuck in interest rate trap
Centre for Economic Policy Research study says central banks will inevitably end up in a low interest rate trap during a crisis
Goodhart: Anglo-Saxon model of banking is flawed
Bank of England former MPC member Charles Goodhart says Asian model of banking is better suited to staving off crises
ECB: Crisis amplified monetary policy channels
European Central Bank study on credit channels finds the financial crisis amplified the impact of monetary policy on the economy
BIS: Top-down approach to countercyclical capital buffers preferred
Bank for International Settlements paper on capital buffers says a bottom-up approach is more favourable to a top-down as bank specific factors neglect variable differences in capital structures of firms
BIS: Inflation targeting only one option
Bank for International Settlements study says inflation targeting is not necessarily the only prescription for price stability
IMF on Peru’s de-dollarisation experiment
IMF uses Peruvian experience in last decade to show benefits of de-dollarisation policies
ECB identifies dark side of wholesale funding
European Central Bank study finds that despite benefits of wholesale funding, liquidity scares can cause instability to banks that are uninformed of potential risks
Fed better prepared than us for financial crisis: ECB paper
European Central Bank study shows stronger emphasis towards output allowed the Fed to react faster than Frankfurt to financial crisis
EU’s Barnier: paradigm shift in regulating OTC derivatives
European Commission commissioner for internal market and services Michel Barnier says concept of light touch regulation is history
Wellink: OTC markets still need good risk management systems
Basel Committee chairman Nout Wellink warns central clearing house not a silver bullet for over-the-counter derivatives markets
Credit boom overlooked due to silo culture in credit markets
Financial Times journalist says informational barriers between credit specialists and regulators meant credit markets were poorly managed pre-crisis