Research
Forecaster surveys improve eurozone inflation modelling – ECB paper
Households’ and firms’ expectations do not provide useful data on inflation
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
Group tests bond settlement on French CBDC platform
Euroclear says CBDC-driven system can plug into existing market infrastructure
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
US bank mergers have not cut branch access – Cleveland Fed
Despite fall in banking firms, number of branches has grown, research finds
BIS paper finds flaws in green taxonomies
“Taxonomy of taxonomies” proposes tackling weaknesses in categorisation of green assets
BIS paper outlines model of managed floats
Framework captures financial frictions while being simpler than other models, authors say
Greater competition cut US banks’ ‘insider lending’ – BdF paper
Researchers quantify bank owners’ and executives’ loans to themselves and their interests
IMF lays out role for investment funds to green economy
Global Financial Stability Report estimates $20 trillion will be needed over the next two decades
SSM reduced large eurozone banks’ risk-taking – ECB paper
Reduced credit risk was driven by supranational authority’s greater efficiency, authors argue
PBoC governor says China does not need QE
Yi Gang says China has space to carry on with conventional monetary policy
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
Emerging European countries’ asset purchases worked – IMF paper
Emerging market central banks in Europe bought assets without triggering instability, authors find
BoE paper links debt and labour supply
Households behave differently depending on their wealth and debt, paper finds
Inequality sharpens monetary policy’s effects – ECB paper
Author analyses “inequality channel” using model with three types of heterogeneous agent
Authorities should consider stress-testing global supply chains – BoE paper
While global supply chains have not changed much, the shocks impacting them have, researchers say
Sectoral prices growing in importance as inflation driver – BIS paper
Monetary policy risks being “overly forceful” if it tries to respond, Borio and co-authors warn
EU bank resolution law needs reform – research
Law should recognise guarantees for subsidiaries by parent banks, NBB paper says
Foreign vulnerabilities can affect domestic growth – BoE paper
Study of ‘GDP-at-risk’ shows financial factors overseas can lead to worse outcomes locally
Bundesbank paper looks at short sellers in the pandemic
Short sellers saw Covid-19 would strongly affect fiscally constrained countries - paper
BIS paper explores Fed’s ‘whatever it takes’ moment
Covid facility had most of its impact without the Fed actually buying any bonds, authors find
Canadians ditched cash during pandemic, research shows
Central bank data shows cash withdrawals fell in comparison to debit card transactions
BDF paper analyses banks’ capital buffers
Researchers suggest new approach to setting banks’ structural and cyclical reserve levels