Research
Monetary policy predictability in the euro area
The ECB Working Paper "Monetary policy predictability in the euro area: an international comparison" published Thursday evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries.
RBA paper on underlying inflation
The Reserve Bank of Australia Discussion Paper "Underlying inflation: Concepts, measurement and performance" published on 21 July explores the concept of underlying inflation and the properties of various measures of underlying inflation in the…
Risk management and regulation in banking
A joint workshop by the Basel Committee on Banking Supervision, the Centre for Economic Policy Research (London), and the Journal of Financial Intermediation, will be held at the Bank for International Settlements, Basel, Switzerland, 29-30 June 2006.
Federal Reserve's Monetary Policy Report, Jul 2005
The Federal Reserve published its July 2005 Monetary Policy Report to the Congress on Wednesday 20 July. The U.S. economy continued to expand at a solid pace over the first half of 2005 despite the restraint imposed on aggregate demand by a further rise…
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its July Monetary Policy Report Update on 15 July. The Bank said it expects Canada's economy to grow by about 2.7 per cent in 2005 and 3.3 per cent in 2006.
ECB publishes statistical classification
The European Central Bank published a "Statistical classification of financial markets instruments" for the first time on Tuesday 12 July.
ECB Monthly Bulletin, July 2005
The European Central Bank published its July 2005 Monthly Bulletin on Thursday 14 July. The report said there is not yet any sign that a sustained economic recovery has started in the euro zone.
Good/bad deflation and Japanese economic recovery
The Discussion Paper "Good deflation/bad deflation and Japanese economic recovery" says economic history suggests that technological progress can go hand in hand with general deflation. It finds that short-run shocks to Japan's relative price structure…
Monetary policy during Japan's lost decade
This University of Tokyo Discussion Paper published May 2005 develops a quantitative costly price adjustment model with capital formation for the Japanese Economy.
Past and future of central bank cooperation
The Bank for International Settlements published papers on Tuesday 12 July from its Conference "Past and future of central bank cooperation" celebrating 75 years of the BIS, 1930 - 2005, held in Basel, Switzerland, 27-29 June.
Reserve Bank of Australia 2005 Conference
This year's RBA conference focused on various issues related to the changing nature of the business cycle, including: the changes that have occurred over recent decades; possible explanations for those changes; international linkages; and the impact of…
Paper on bank supervision Russian style
The Working Paper "Bank supervision Russian style: Rules vs enforcement and tacit objectives" from Ghent University published May 2005 focuses on the conflict between two central bank objectives, namely individual bank stability and systemic stability.
BoE paper: Bank loans versus bond finance
This Bank of England Working Paper published on 11 July develops a model to analyse the optimal choice between bank loans and bond finance for a sovereign debtor.
Federal Reserve Bulletin, Spring 2005
The Federal Reserve's Bulletin for Spring 2005 includes the article 'Background on FOMC meeting minutes' outlines previous changes to the release schedule for the minutes and provides a brief overview of the content of the minutes and the way they are…
Philadelphia Fed Business Review, 2nd Quarter 2005
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Second Quarter 2005. In this quarter's message, President Anthony Santomero shares his views on the U.S. economy and outlines some of the "Lessons learned from the…
Integration of securities market infrastructure
This ECB paper published 7 July investigates the state and process of integration of the European securities market infrastructure. The integration of financial infrastructures is one of the basic policy goals and key responsibilities of the Eurosystem.
Norges Bank, Economic Bulletin, June 2005
Norges Bank, the central bank of Norway, has published its June 2005 Economic Bulletin. The latest Bulletin includes the article 'Norges Bank's role in the event of liquidity crises in the financial sector' by Karsten R. Gerdrup, adviser in the Financial…
The Federal Reserve System: Purposes and Functions
The book "The Federal Reserve System: Purposes and functions" was published on Tuesday 5 July. The book includes chapters titled, 'Overview of the Federal Reserve System,' 'Monetary Policy and the Economy,' 'The Implementation of Monetary Policy,' 'The…
ECB Paper on GCC regional monetary integration
The Gulf Cooperation Council (GCC) plans to introduce a single currency by 2010 in its six member states. This paper focuses on selected macroeconomic and institutional issues and key policy choices which are likely to arise during the process of…
St Louis Fed's Regional Economist, July 2005
The Regional Economist, July 2005 edition, from the St Louis Fed includes the article "Do we have a saving crisis?" Theoretically, the decline in saving jeopardizes the US economy because savings are lent to businesses for investment. In reality, the US…
Minutes from the Sveriges Riksbank Meeting, 20 Jun
The Sveriges Riksbank published the minutes from its 20 June Executive Board meeting on 5 July. In Sweden economic activity has slowed, the minutes said. In the first quarter GDP growth was much lower than estimated by the Riksbank and other forecasters.
Research on exchange rates and monetary policy
This BIS Working Paper published June 2005 reviews research carried out on exchange rates and monetary policy by central banks that participated at the Autumn Meeting of Central Bank Economists on "Exchange rates and monetary policy", which the BIS…
Bank of Canada, Business Outlook Survey, Summer 05
The Bank of Canada published its Summer 2005 Business Outlook Survey on 4 July, reporting that businesses remain optimistic about the economic outlook.
Paper: MPC inflation targeting and decision making
This paper published June 2005 considers decision making in the Bank of England's MPC. It finds there are identifiable forms of heterogeneity among members of the committee that improves the predictability of interest rate changes.