Research
More older people and women joining labour force, RBNZ paper finds
New Zealand’s labour force participation has grown since 2000 and reached an all-time high in 2017
Real rates likely to move back up – BIS paper
Use of “shadow rate” allows authors to account for the effective lower bound
Lower inflation in LatAm threatened by debt, says World Bank’s Vegh
Public debt for Latin American region tops 50% of GDP
BoE paper hunts for shifts in forecast accuracy
Authors outline new method of detecting when forecasts break down
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
Chinese housing markets need to make ‘painful adjustment’ – IMF paper
Authors suggest governments set up body to ensure liquidity is available for housing market if prices fall suddenly
Brexit will hit Irish economy hard, Banque de France paper finds
Researchers look at cost of undoing European Union’s single market
FSI finds divergent practices on non-performing assets
Study finds it is hard to make “meaningful comparisons” of troubled assets across jurisdictions
Financial conditions in Denmark tighten in Q1
Implementation of new mortgage lending regulation is the main cause of credit reduction
China's policy transmission increasingly similar to advanced economies – BIS paper
Authors say monetary policy surprises have “sizeable” effects on interest rates in China
Return on foreign assets partly offsets trade imbalances – research
Emerging economies can recover from current account disequilibrium faster than reserve currency issuers
RBA paper offers new way to add housing sector to DSGE models
Authors find their model delivers “reasonable” forecast performance
High-denomination notes still needed, says De La Rue
Banknote firm says high denominations make up an increasingly large proportion of banknotes in circulation thanks to inflation
ECB paper proposes eurozone stabilisation policy based on trade changes
Scheme would avoid moral hazard or permanent transfers from one country, authors argue
Bundesbank paper looks at cross-border cycles in six European economies
Equity prices and interest rates more strongly synchronised than real economic activity – researchers
High-frequency data helps capture ‘psychological subtlety’ – BoJ paper
Study of “tick-by-tick” data finds markets have become more sensitive to the central bank’s policy announcements
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
Language shapes monetary policy preferences in Switzerland – research
Culture partly outweighs shared institutions and economic history in setting priorities
Risky firms can transmit financial cycle – BIS paper
Authors find smaller, younger firms are more likely to tap into global markets during risk-on phases, creating vulnerabilities
Balance sheet features impact global spillovers – NY Fed paper
International research effort finds banks’ business models affect the extent to which policy spills across borders
Yield curve can help improve forecasts – RBNZ economists
Yield curve information tends to improve forecasts of economic activity, researchers find
BIS economists find frictions in banks’ dollar funding
Authors investigate wide divergence in the business models of European and Japanese banks
Latin American markets were hit by 2010 US ‘flash crash’, DNB paper finds
Fall was driven by equities markets’ interdependence, not contagion, researcher argues
Fed’s unconventional policies similar to measures in 1920s, says research
Market operations early in the 20th century more than tripled Fed’s Treasury portfolio