Research
Philadelphia Fed Business Outlook Survey, May 2003
The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported…
ECB Monthly Bulletin: erozone inflation limited
The European Central Bank published its May 2003 Monthly Bulletin on 15 May. In the report the ECB said that eurozone inflation risks were limited and that the economy would pick up later this year and accelerate in 2004.
BoE Inflation Report, May: :world economy sluggish
The Bank of England published its quarterly Inflation Report for May 2003 on Thursday May 15. In the report the Bank said the recovery in the world economy has been sluggish. The conflict in Iraq was associated with a sharp deterioration in economic…
RBA Statement on Monetary Policy, May 2003
The Reserve Bank of Australia has released its May 2003 Statement on Monetary Policy. The global economy entered a period of slower growth towards the end of last year, which has continued into 2003. While this has been generally expected to be temporary…
IMF Working Paper - The ECB's Money Pillar
In the IMF Working Paper 'The ECB's Money Pillar: An Assessment' Albert Jaeger discusses the case for a money pillar in the European Central Bank's (ECB) monetary policy strategy. The Paper says effective communication of the ECB's monetary policy…
IMF Working Paper - The ECB's Inflation Objective
IMF Working Paper 'The ECB's Inflation Objective' by Mads Kieler. The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive…
Chicago Fed 2003 Bank Structure Conference
On May 7-9, the Federal Reserve Bank of Chicago will hold its 39th annual Conference on Bank Structure and Competition. The conference, to be held at the Fairmont Hotel in Chicago, has a rich tradition of serving as a forum to encourage an ongoing…
Role of Money Stock in Conducting Monetary Policy
Bank of Japan research paper examining economic and financial developments since the 1990s. This paper discusses (1) the role of he money stock within the Bank of Japan's (the Bank's) monetary policy and (2) why the relationship between the money stock…
Regular OTC Derivatives Market Statistics
The Global OTC Derivatives Market at end-December 2002, 8 May. The BIS is releasing today its semiannual statistics on positions in the global OTC derivatives market for end-December 2002. The statistics cover the notional amounts and gross market values…
QIS 3 - Basel Committee releases Impact Study
The Basel Committee on Banking Supervision has released the results of the latest field test of new capital rules. This is the third impact study undertaken by the committee and was intended to show how the committee's new capital accord will impact the…
Mexico redesigns currencies to help blind people
The Bank of Mexico intends to make alterations to its bank notes to help the blind and visually impaired distinguish them by making them identifiable by touch.
Efficacy of central bank interventions - Australia
An RBA discussion paper "Identifying the Efficacy of Central Bank Interventions: Evidence from Australia" says the endogeneity of exchange rates and intervention has long plagued studies of the effectiveness of central banks' actions in foreign exchange…
Growth and Adjustment in Chile-A Look at the 1990s
A Working Paper from the Central Bank of Chile published March 2003 provides a thorough review of the post-1998 slowdown in economic growth in Chile. The paper is jointly authored by the newly named president of the Banco Central De Chile Vittorio Corbo.
Capital flows to emerging markets
A recent Working Paper from the Bank of England 'Capital flows to emerging markets' extends a model previously developed by Barro et al. The paper looks at the optimal rate at which capital should flow to emerging market economies. It suggests optimal…
Federal Reserve Board - Beige Book, April 2003
The Federal Reserve Beige Book released on 23 April reported that the US economy remained becalmed during the war with Iraq, as geopolitical uncertainty and bad weather conspired to keep consumers at home.
Research themes at the Bank of Canada, 2003
The Bank of Canada presents a summary of major research themes for 2003. Studies will continue on various aspects of inflation dynamics including extensions to earlier work on New Keynesian Phillips curves and developing more sophisticated approaches to…
Bank of Canada Monetary Policy Report Apr.03
The Bank of Canada on Wednesday April 23 released its April 2003 Monetary Policy Report. In the report the bank cut its growth forecast for the year and said the potential impact of the SARS virus creates additional uncertainty for this country's economy…
Philadelphia Fed Business Outlook Survey, Apr 2003
The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported…
Deutsche Bundesbank Monthly Report, March 2003
The Bundesbank said in its March 2003 monthly report that growth in overall output came to a halt in the fourth quarter of 2002 and the labour market situation deteriorated further around the turn of the year.
The Regional Economist, April 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2003 edition from the St Louis Fed includes an article 'Is Confidence High?' Economic forecasters rely on monthly consumer confidence surveys to help them determine…
ECB TARGET Annual Report 2002
The European Central Bank (ECB) on 14 April publishing the third edition of the TARGET Annual Report. It gives an overview of TARGET operations in the year 2002.
Bank of Japan Monthly Report, April 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, April 2003, on 10 April. In the report the BOJ acknowledged that economic activity remained flat. But it was more upbeat about business investment and said…
IMF World Economic Outlook, April 2003
The International Monetary Fund has published its twice yearly World Economic Outlook report for April 2003. In the report the IMF said the global economic recovery will remain slow and uncertain even after the war with Iraq, and will be dangerously…
ECB says 2003 growth rate hard to predict
The European Central Bank published its April 2003 Monthly Bulletin on 10 April. In the report the ECB said while a modest rate of growth should be expected this year, "the specific evolution of economic growth for the rest of this year is particularly…