Research
Chicago Fed Letter, Special Issue, September 2002
PUBLICATION - The September 2002 Special Issue of the Chicago Fed Letter looks at Asset price bubbles and their implications for monetary, regulatory, and international policies. Difficulties in identifying asset price bubbles were discussed by attendees…
International Monetary Fund Working Paper
RESEARCH - Central Bank Financial Strength, Transparency, and Policy Credibility by Peter Stella, Monetary and Exchange Affairs Department, IMF, August 2002.
IMF assessment of Macau's financial regulation
REPORT - Macao SAR, Assessment of the Regulation and Supervision of the Financial Sector, International Monetary Fund, Monetary and Exchange Affairs Department, 3 September.
Bank of Japan Research Papers
RESEARCH - How Should the Recent Increase in Japan's Monetary Base Be Understood?, Bank of Japan, Policy Planning Office, 5 September.
Chicago Fed Letter, September 2002
PUBLICATION - The September 2002 issue of Chicago Fed Letter looks at how inequality is perpetuated over generations and how financial constraints among low income families may contribute to this cycle.
3rd Annual Payments Symposium Presentations
PRESENTATIONS - 'Using new technologies to transform the future of payments', sponsored by the Federal Reserve Bank of Cleveland, Columbus Marriott Northwest, Ohio, held between 6-7 June 2002.
ECB Working Paper Series
RESEARCH - 'Constructing quality-adjusted price indices: a comparison of hedonic and discrete choice models' by Nicole Jonker, September 2002. The Boskin Report (1996) concluded that the US consumer price index (CPI)overestimated the inflation by 1.1…
HKMA Quarterly Bulletin, August 2002
REPORT - The Hong Kong Monetary Authority has published its Quarterly Bulletin for August 2002. The report contains an article Hong Kong's Currency Board Today: The Unexpected Challenge of Deflation.
Joint publication of statistics on external debt
PUBLICATION - On 30 August 2002 the BIS, the IMF, the OECD and the World Bank jointly published a new quarterly release of statistics on the external debt of 176 developing and transition countries, together with data on international reserves.
Market functioning and central bank policy
RESEARCH - BIS Papers No. 12, August 2002. The papers in this volume were presented and discussed at the Autumn Central Bank Economists' Meeting held at the BIS on 15-16 October 2001. The meeting focused on recent changes in market functioning and their…
Current Issues in Economics and Finance
PUBLICATION - The Federal Reserve Bank of New York has published the July/August 2002 edition of Current Issues in Economics and Finance with an article 'Why Hasn't Electronic Bill Presentment and Payment Taken Off?'. The delivery and payment of bills…
Chicago Fed National Activity Index, July 2002
REPORT - CFNAI Reflects Economic Softness. In July, the Chicago Fed National Activity Index (CFNAI) fell below zero after being positive the two previous months. Weakness in the employment-related data accounted for the largest negative contributions to…
IMF Working Paper Series
RESEARCH - 'Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001' by Kenneth Rogoff and Jeromin Zettelmeyer, August 2002. This paper describes the evolution of the literature from the late 1970s until 2001, with particular emphasis on the…
Has Russia Been on the Right Path?
RESEARCH - A Commentary by Kenneth Rogoff, Economic Counsellor and Director, Research Department, IMF, Vedomosti, 26 August. Rogoff compares the progress to market reform of Russia against that of China and quotes Joseph Stiglitz on the "enormous success…
European Central Bank Publication
PUBLICATION - The European Central Bank has published it's euro banknotes and coins, brochure, August 2002.
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the Third Quarter 2002. The U.S. economy is expected to grow in each of the next five quarters, but growth rates will likely be lower than those…
Basel Committee Publications No. 92
REPORT - Internal Audit in Banks and the Supervisor's Relationship with Auditors: A Survey, August 2002. The survey, conducted by the Basel Committee's Accounting Task Force, found widespread endorsement of the key internal audit principles identified by…
Sticky prices: the impact of regulation
RESEARCH - The Journal of Monetary Economics, May 2002, contains a paper, 'Sticky prices: the impact of regulation'. The paper finds that approximately one-third of the items in the CPI are governed by price regulations that can slow and add noise to the…
Deutsche Bundesbank Monthly Report, July 2002
REPORT - Germany's central bank, on Tuesday published its Monthly Report for July 2002. The Bundesbank report reveals that the German economy grew slightly in the second quarter by 0.25 percent in April to June compared with the previous three months…
Fedtalk from the Boston Fed, May 2002
PUBLICATION - Financial Services Update of the Federal Reserve Bank of Boston, May 2002. A newsletter about Boston Fed financial services, Fedtalk offers the latest information on check services and electronic delivery systems. The most recent edition,…
New England Economic Review, Second Quarter 2002
PUBLICATION - Published quarterly by the Federal Reserve Bank of Boston, the journal examines economic and public policy issues, as researched by the Bank's economists and others. In the most recent edition of the New England Economic Review the journal…
ECB Working Paper Series
RESEARCH - "An estimated stochastic dynamic general equilibrium model of the euro area", by Frank Smet and Raf Wouters, August 2002. The paper concludes that there is a considerable degree of price and wage stickiness in the euro area. The paper also…
ECB Working Paper Series
RESEARCH - 'The Industry Effects of Monetary Policy in the Euro Area' by Gert Peersman and Frank Smets, August 2002.
Economic Review from the Atlanta Fed Bank
PUBLICATION - Global Banks, Local Crises: Bad News from Argentina by Marco Del Negro and Stephen Kay, published in the Economic Review, Federal Reserve Bank of Atlanta, Third Quarter 2002, Vol 87, No 3.