Research
Inter-sectoral dependence key for stress tests
Bank stress tests should take into account inter-sectoral dependencies, finds a new paper from the Bundesbank.
Japanese companies with strong ties lose out
Japanese firms with strong bank ties are less profitable, finds a new paper from the Bank for International Settlements.
Nationalisation a possibility for one or two
Full nationalisation may prove necessary as a last resort for one or two of the larger United States banks, says a new paper from the Brookings Institution.
Buba's focus on output-growth gap significant
The Bundesbank's response in 1970s and 1980s to the output-growth gap under monetary-growth targeting was highly significant, posits a new paper from the European Central Bank.
BIS Quarterly Review, March 2009
The Bank for International Settlements (BIS) published its latest Quarterly Review on Monday.
Fed's TSLF fulfils its functions
Federal Reserve's Term Securities Lending Facility (TSLF) is effective in improving market liquidity, finds a new paper form the New York Federal Reserve.
Sovereign risk exacerbates procyclicality
The risk premium associated with the possibility of sovereign default plays a key role in the procyclicality of fiscal policy in emerging economies, finds a new paper from the Richmond Federal Reserve.
A new model of housing cycles
A new paper from the Central Bank of Turkey presents a simple model of housing cycles in a two good economy.
Irish citizens no good at making financial plans
The Irish population saves too little, finds a new study from the Central Bank and Financial Services Authority of Ireland.
Denmark's incredible price stability
The past five centuries in Denmark have been dominated by price stability, posits a new paper from the National Bank of Denmark.
Transparency: too much of a good thing?
Too much monetary policy transparency can be bad, finds a new paper from the Bank of Japan.
Central bank liquidity abates crisis but not risk
Central banks' liquidity provision can manage a liquidity crisis but cannot tackle the roots of liquidity risk, posits a new paper form the European Central Bank.
What 1 trillion can buy you
1 trillion-worth ($10.6 billion) of central bank interventions moves the yen/dollar rate by 1.7%, finds a new paper from the Bank of Japan.
Risk premia can be procyclical
New research from the Bank of England shows that risk premia can be procyclical.
Union activity linked to swings in output
Countries with high union density experience larger fluctuations in output, posits a new paper from the European Central Bank.
Emerging markets should watch fiscal positions
Emerging-market economies should pay off their debts sooner rather than later, posits new research from the Bank of England.
Korea's target hits its aims
By having an explicit inflation target, the Bank of Korea is taking the optimum route to price stability, posits a new paper from the European Central Bank.
What moves the yield curve?
The monetary policy response to the inflation gap impacts the yield curve, says a new research form the Kansas City Federal Reserve.
Sequential bargaining in a New-Keynesian model
This working paper by the European Central Bank considers a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period.
Finding equilibrium in complex markets
This IMF Working Paper provides a brief overview of the implications of computational complexity for economic modelling.
China's financial liberalisation success
Liberalisation of China's financial system reduced its vulnerability, posits a new paper from the Hong Kong Monetary Authority.
How to measure global inequality
World inequality cannot be measured with the same tools as applied at a national level, says a new research from the Bank of Italy.
US monetary policy self absorbed - Dallas Fed
Monetary policy in the United States is too self absorbed, said Richard Fisher, the governor of the Federal Reserve Bank of Dallas in the first Annual Report of the central bank's Globalization and Monetary Policy Institute.
Asian crisis's impact on money demand
The Asian crisis impacted money demand in Chilean economy, posits a new paper from the country's central bank.