Research
RBA authors try to estimate banknotes’ whereabouts
Information is sparse on the period between a banknote’s issuance and its destruction
Lack of monetary autonomy ‘central’ to eurozone debt crisis – researchers say
Spain would have been ‘immune’ to rollover debt crisis outside eurozone – Minneapolis Fed paper
Bundesbank paper looks at effects of sanctions regimes
German banks cut activity in sanctioned countries but subsidiaries may increase lending, paper finds
Communication of monetary policy took back seat in financial crisis, researchers find
ECB press conferences transmitted non-monetary information in 65% of cases from 1990 to 2017, researchers find
Bank lending standards can worsen financial frictions, ECB paper finds
Model shows tighter lending standards can damage productivity, researcher argues
New US tariffs have varying impact on prices – Canadian research
Over the long term, tariffs have “modest impact” on aggregate prices and output, but there are likely to be short-term price movements as sectors face capacity pressures
PBoC’s policy communication could improve - IMF paper
Central bank’s communications should be more timely and accessible, researchers say
Fed’s emergency lending facilities eased funding pressures, researchers find
Facilities likely avoided severe sale of assets at fire-sale prices, authors say
French banking crisis of 1930s far worse than previously thought – BdF paper
Central bank policies worsened crisis, Banque de France paper says
Non-bank lending could replace interbank market – Atlanta Fed paper
Basel III capital requirements and Fed’s QE are reducing US interbank lending, researchers say
US inflation likely to fall below target – San Francisco Fed
Factors unrelated to economic cycle have increased their contribution to price increases in 2018
ECB and EBA action may have limited CoCo contagion – BoI paper
Deutsche Bank CoCos spread volatility throughout European banks in 2016, researchers find
Brexit vote has hurt UK investment – IMF paper
Researcher presents proxy term for UK firms’ exposure to Brexit costs
QE has persistent impact on foreign exchange, researchers find
European Central Bank QE caused euro to fall 12% against dollar - Dallas Fed paper
ECB paper examines banks’ responses to unconventional policy
Weaker banks’ sheets reduce credit supply in response to conventional policy shocks, paper finds
Advanced economies suffer greater spillovers – BIS research
Study examines extent to which various central banks cause and suffer policy spillovers
Standard notions of time fail to fully explain financial cycles – BIS paper
Distinguishing “calendar time” and “financial cycle time” could help explain booms and busts
Machine learning model outperforms professional forecasters
The model may uncover new relationships in data that were previously overlooked, researcher says
Mobile phones boost financial inclusivity in Cambodia – paper
Phone users more likely to open financial accounts and invest using microcredit
ECB unveils richer eurozone forecasting model
“NAWM II” models financial sector’s role in originating and propagating economic shocks
Researchers find trade-off between financial sector development and inequality
Financial sector development negatively impacts inequality, BIS paper says
Information can substitute for collateral, BoE paper finds
Strong lending relationships can insulate a firm during booms and busts
IMF programmes do not harm governments’ financing ability – ECB paper
Governments use IMF as an excuse when “struggling with transparency”, authors argue
ECB paper looks at large database on inflation expectations
Expectations more powerful when lower bound on nominal rates is binding, researchers find