Research
Banque de France paper analyses sovereign debt crisis
High NPL and sovereign debt holdings affected banks’ interbank funding access, paper finds
Open economies less affected by low rates due to ageing populations – IMF
Older societies are prone to save more and consume less, which reduces inflationary pressures
BIS paper links Japan’s household debt to consumption behaviour
The researcher examines how Japanese household debt affects marginal propensity to consume
BoE paper uses millions of job adverts to understand labour market
Researchers analysed 15 million adverts over eight years to categorise jobs
Researcher models business cycle using ‘animal spirits’
San Francisco Fed paper incorporates ‘equity sentiment shock’ into model
Securitisation did not increase for most banks before 2008 - BoI paper
Data from 1991 to 2007 shows banks improved capital ratios after securitising assets
Mexico needs labour market reform - IADB vice-president
Growth rates have been among slowest in Latin America despite reform efforts, Levy says
Labour reallocation explains productivity puzzle – BoE paper
Methodological innovation helps solve data-quality issues, author says
Indian researchers use Google searches to overcome lack of data
RBI paper examined Google Trends to study growth in the Indian housing market
Risker Italian banks boosted funding from CCPs during crisis – paper
These banks may have been dropped by bilateral funding partners, researchers say
Survey indicates bitcoin’s purpose changed over the last year
Main reason cited for owning bitcoin shifted from transactions to investment between 2016 and 2017
BIS paper compares current Asian vulnerabilities with 1997 crisis
Global banking statistics could have given warning signals ahead of Asian crisis, authors say
Viability of debt issuance could be hit as QE ends – Bank of Canada paper
QE played important role in funding treasury debt issuance, researchers say
BoE paper proposes composite measures to communicate UK financial stability
Authors aggregate indicators of financial stability into measures that could improve public communications
RBA paper modifies DGSE to include housing sector
Model does better job of explaining data on Australian economy, researchers say
NPLs hindered financing for eurozone banks - Boston Fed paper
But Draghi’s August 2012 speech eased problems caused by sovereign debt holdings - researchers
Banque de France paper finds ‘behavioural channel’ to QE
Repeat lab experiments imply people do not converge towards rational expectations
Housing bubbles can boost credit supply, Spanish paper finds
Evidence of Spanish housing bubble show banks boosting credit supply, researchers say
Paper looks at impact of financial shocks on US labour markets
Negative shocks have far bigger effects than positive ones, researchers find
Forecasting yield curve inversion is hard – Cleveland Fed research
Inversions may be a “harbinger of recession” but seeing them coming is difficult, says economist
Monetarist perspective affects normalisation forecasts – Chicago Fed paper
Incorporating money demand into projections affects forecasts of remittances and money multiplier
FSI paper urges supervisors to develop ‘suptech strategy’
Supervisors are well placed to benefit from technology but need a clear plan, says the paper from Basel’s FSI
BoE paper reports ‘lab experiment’ on banker bonuses
Test subjects tended to take larger risks when their bonuses could not be taken away
Weak US productivity behind low wage growth – IMF
Declining labour share of income is another contributing factor