Research
EM central banks, Chinese and Indian households going for gold
Financial products have made it easier to access precious metal – BdF research
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
House prices react rapidly to rates shocks – BIS paper
Monetary policy transmission stronger in US property market than previously thought, study argues
Cash use supporting ‘shadow economy’ in Slovakia – study
Central bank research points to “substantial” activity intended to avoid regulatory scrutiny
Phasing out coal-fired power could ultimately pay for itself – BdF paper
Authors say gains from lower operating and finance costs could compensate for outlay costs
LatAm rate hikes consistent with pre-Covid strategy – BIS paper
Region’s central banks did not become more hawkish during pandemic, researchers argue
China poses ‘risk of economic coercion’ – Belgian paper
National Bank of Belgium says trade with EU has shifted to more “strategic” goods
Phillips curve differs depending on labour market – Fed study
Research finds curve to be flat in normal markets and steep in tight ones
Credit expansion could dampen growth in EMEs – BIS bulletin
Shift in lending from manufacturing and into real estate is also affecting productivity
North Macedonia develops new DSGE model
Analytical tool to supplement existing models built in conjunction with CNB and IMF
Covid led to shift in cross-border payment flows – Brazilian study
Pandemic resulted in changes across sectors, instruments and types of economy
Yuan will not rival dollar for foreseeable future – Fed study
Figures show aggregate usage of currency lags behind that of euro, yen and pound
Lower-paid workers face greatest impact from AI – BIS paper
Risk of core skills being replaced, and jobs being lost, is higher for people on low incomes
Most eurozone countries pay high price for membership – study
Central Bank of Iceland research finds smaller states would be better off setting rates independently
Bank closures lead to job cuts at small businesses – Fed study
Research finds that if 25% of local branches close, employment growth falls by four percentage points
Wildfire pollution depresses home values and rents – study
Dallas Fed research finds effects extend to areas “thousands of miles” from where fires take place
Mortgage reforms, surprise rate hikes harm renters – ECB study
Researchers say young people could lose equivalent of 1% of their lifetime consumption
Fed study finds there are no truly offline payment systems
Hybrid solutions mitigate some risks, say researchers
BLS revises US employment downward
Bureau says 818,000 fewer jobs were created over year to March than it had previously estimated
‘Reserve asset competition’ explains global fiscal cycle – paper
Local fiscal shocks can trigger debt issuance abroad, authors find
Lending spreads may dampen monetary policy – research
Rate hikes appear to have been muffled and cuts might be too, say Kansas City Fed authors
NY Fed chief unveils real-time reserves calculation framework
John Williams and fellow researchers cite five measures of reserves’ ampleness or scarcity
BoC paper offers monetary policy ‘decision synthesis’
Authors say model combination method helps capture complexities of decision-making
Growing divide between ethereum investors – Philadelphia Fed study
Paper claims returns disadvantage “minnows” more than would be case with conventional assets