Research
Banks outpacing insurers with cloud adoption – BoE
UK financial institutions lean towards software when it comes to cloud outsourcing, blog post shows
Sovereign debt needs strong collective action clauses – ECB paper
CACs with bond-by-bond voting fail to prevent creditor holdouts, researchers find
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Brookings paper examines impact of governance structures on use of CCyBs
Countries with strong governance mechanisms are more likely to use the macro-prudential tool, researchers find
Remittances can cause volatility if concentrated – IMF paper
Flows of remittances are broadly stabilising for the receiving country, but not if they are too concentrated, paper finds
Paper takes ‘Hank’ approach to eurozone policy transmission
Authors identify three key dimensions of household heterogeneity
Atlanta Fed research offers 17th century lessons for proposed standing repo facility
Crises can pose demand and credibility challenges, researchers warn
Paper models monetary policy in a ‘Hank’ framework
Authors combine micro and macro “moments”, finding investment is “crucial” to policy transmission
Central banks must learn lessons of BoJ’s inflation target rise – Fed paper
Failure to hit old targets and disagreement among policy-makers will harm credibility, paper argues
Cyber security suffers from inconsistent approaches, says IMF’s Lipton
Emerging markets struggle to implement international recommendations, expert adds
Bank of Spain paper looks at EM vulnerability
“Sherloc” tool seeks clues for emerging market fragility in wide range of variables
Demographic change could mark end of economic growth – NBER paper
Shrinking populations could cause knowledge and living standards to stagnate, author says
ECB paper looks at role of uncertainty in central bank comms
Researchers use machine learning to study market reactions to BoE inflation reports
Machine learning model flags importance of yield curve for crisis prediction
Model has potential to allow policy action before crisis hits, BoE paper says
HKMA says banks should set up AI hub
Hong Kong lenders should establish “centre of excellence” to improve use of AI, central bank says
Trump’s tax cuts boosted growth and jobs – Dallas Fed paper
Researcher uses state-level data on tax cuts to estimate national impact
Ageing populations will keep interest rates low – BdF paper
Housing availability can attenuate decline in rates, authors find
Female Spanish entrepreneurs face unconscious bias by lenders – research
Double standards suggest credit allocation among start-ups is not efficient
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
BIS paper: banks may harm customers through ‘steering’
Nudging “naive” households to take decisions can harm their welfare, authors find
Patterns of exchange rate pass-through are changing – RBI paper
Pass-through in emerging markets is non-linear, asymmetric and falling, authors find
Crises are non-linear, beware high debt levels – research
IMF paper warns against complacency on high debt levels
Central bank research may be too focused on narrow topics – paper
Network analysis finds many central banks are limited in the scope of their research
Machine learning can produce better credit scores – BIS paper
Fintech firms may be better at predicting default rates, researchers find