Research
Banking: a mechanism design approach
Philadelphia Federal Reserve research uses mechanism design to study banking
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Credit-card discrimination hard to prove
Federal Reserve Board finds no evidence of credit-card companies discriminating against minorities.
Public banks good for growth
Central Bank of Cyprus finds that government ownership of banks has been associated with better long-run growth performance
External balances in low-income countries
International Monetary Fund research offers empirical analysis of balances in low income countries
Lamfalussy godfather of BIS’s macroprudence
National Bank of Belgium paper shows Alexandre Lamfalussy as the originator of the macroprudential approach to stability
Mutual guarantee institutions aids credit access
Bank for International Settlements finds that membership of mutual guarantee institutions help small and medium enterprises to obtain bank funding
Central banks must guard independence – IMF
International Monetary Fund says the risk of losses from unconventional policies can pose challenges to financial independence
Monitoring can prevent crisis
International Monetary Fund looks at role of uncertainty in contagion during a financial crisis
Tips are good inflation hedge
Boston Federal Reserve says Tips hedge well against inflation risk
China’s consumption key for crisis exit
International Monetary Fund says global recovery needs China and Japan to strengthen domestic consumption
The geography of return predictability
Central Bank of Cyprus investigates whether local stock returns vary with local business cycles in a predictable manner
Future rate disclosure works
Bank of Italy looks at the impact of disclosing future rate movements as part of monetary policy
Culture matters for regulation
Bank of Italy says trust has impact on preferences for regulation
Raise liquidity rule for property funds – Buba
Analysis of German real-estate funds during the crisis shows that regulators should impose a higher liquidity ratio, a new paper from the Deutsche Bundesbank argues
Accounting standards and capital regulation for securitisation
Bank for International Settlements looks at how regulators could alter the securitisation chain and its influence on originators’ incentives
Traders’ inventories affect market liquidity
Philadelphia Federal Reserve investigates how holdings of mortgages will affect traders’ propensity to buy and sell further
How to drive debt long-termism in emerging markets
World Bank’s studies the extent of emerging-markets’ domestic demand for long-term debt instruments
UK Households face lending constraints – survey
The Bank of England’s quarterly survey shows lending to households has declined, but credit is increasingly available to the corporates
IMF’s new exchange-rate terms explained
International Monetary Fund explains revisions to its system for the classification of exchange rate arrangements
Banks bend rules in crises: IMF paper
Authors show that banks used discretion in classifying mortgage debt and in accounting for related losses and assets
Finland downgrades 2009 forecast
Bank of Finland says it now expects economy to shrink by 7.2% this year
Bailout announcements agitated markets, shows IMF study
IMF working paper shows bailout decisions aggravated inter-bank markets, and argues for a coordinated policy response to restore global confidence
Real effects of banking crises: a literature review
Bank of Italy examines trends in research on banking crises