Research
BIS paper flags ‘barren patches’ in post-crisis reforms
Reforms have boosted “shock-absorbing capacity” but some problems persist, authors say
Banks’ ‘geographic complexity’ raises some risks and cuts others – BIS paper
Global reach has complex effect on banks’ risk profiles, authors find
Most eurozone states experience fiscal spillovers – ECB paper
Eurozone fiscal policy may be especially effective when rate changes have little impact, paper says
Women affected more by job losses in US lockdown – Kansas Fed
Roughly 60% of job losses were to women in the first half of March, researchers find
Fed banks ramp up Covid-19 surveying
Real-time and weekly surveys reveal deepening economic fallout
Fed paper examines drivers of US leverage
Economic growth can be major influence even without loose monetary policy, researchers say
Shadow banking increases need for asset purchases – ECB paper
Large non-bank financial sectors can impair transmission of monetary policy, paper finds
Trump’s NAFTA replacement could harm car production – Dallas Fed research
Authors say Mexico could face biggest loss from USMCA deal
US must overhaul statistics to fight coronavirus – Minneapolis Fed paper
New methods, laws and cross-sector agreements are necessary to support real-time data analysis, research says
BIS paper finds little evidence of ‘liquidity trap’
Monetary policy remains effective even very close to the lower bound, economists find
IMF programmes must not get too large – Bundesbank paper
Preferred creditor status can lead to large-scale IMF operations crowding out private investors
Covid-19 macro effects could last 40 years – research
Research from University of California says natural rate could take decades to return to normal
Flatter Phillips curve calls for average inflation targeting – Brookings paper
Average inflation targeting could be “especially effective” in current environment, researchers say
ECB paper looks at euro exchange rate shocks
Exogenous exchange rate shocks having more impact on eurozone inflation, researchers find
16% of US jobs in high-risk sectors – Brookings research
Researchers examine possible impact of coronavirus on US sectors and metropolitan areas
Economists must study ‘certainty shocks’ – Bundesbank paper
Policy-makers must distinguish between shocks which raise or lower certainty, researcher says
US dollar has become ‘risk barometer’ – BIS economists
Role of dollar has changed since 2008 due to major changes in global financial sector, authors say
UK lenders do little to account for extreme weather risks – BoE paper
Banks barely adjusted mortgages in the wake of severe flooding in 2013–14, authors find
ECB’s negative rates boosted lending – Bank of Italy paper
Banks increased credit to ex ante riskier firms, but did not see rise in failed loan rates, researchers find
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
Richmond Fed paper examines use of discount window
Facility not typically used in “life or death” scenarios, researchers find
More frequent ELB events cut inflation expectations – San Fran Fed
Household and businesses change spending and pricing behaviours, researchers say
Bank of Spain paper looks at macro-pru and growth at risk
Financial cycle, time elapsed and type of measure has major impact on effectiveness – researcher
Financial crises harm innovation – BIS paper
Loss of access to bank credit can harm research spending for more than 10 years, study finds