Research
Decentralised crypto exchanges dominated by big players – paper
Research argues that simply removing intermediaries is not enough to democratise finance
Doing nothing is ‘least costly’ response to US tariffs – BoF blog
Costs will be borne by American firms and households, Bank of Finland analysis shows
Covid stimulus did not trigger US inflation surge – NBER study
Working paper says QE and fiscal stimulus had minimal impact on price rises
Paper offers solution to EME monetary transmission puzzles
Price and exchange rate conundrums are interconnected, authors find
Banxico working paper tackles ‘loan puzzle’
Study finds that banks increase credit to low-delinquency sectors following policy tightening
IMF paper tracks banks that are ‘keeping coal alive’
Pull-back of many lenders is leaving concentrated exposures and roll-over risk
Rate uncertainty means firms hire and invest less – BdF study
European companies hoard cash and reduce dividend payments when monetary stance is unclear
Bofit study projects continued slowdown in China
Group’s latest forecast says economy needs to be rebalanced in favour of consumption
BIS paper explores how AI can predict asset demand
Better data availability and modelling techniques help central banks evaluate market reaction to QE
No systemic link between dollar and oil price yet – ECB paper
Increasing value of crude no longer weakens greenback, but does not “significantly” lift currency
Vix spike in August not driven by actual volatility – BIS
Latest bulletin explains how widening bid-ask spreads drove up the index
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
SNB researchers develop ‘more precise’ LLM-based risk predictor
New model allows for “more nuanced understanding” of types of uncertainty, researchers say
Global component of inflation surged in pandemic – research
Dallas Fed authors say international factors exert greater influence than they did pre-Covid
FSB warns of liquidity and maturity risks in tokenised assets
Report highlights financial stability implications if tokenised assets are widely adopted
Central banks must navigate impact of tokenisation – BIS
Paper weighs in on how policy-makers should react to innovations in financial market infrastructure
Colombian policy reforms boosted transparency, paper finds
Economists say central bank’s 2018-19 overhaul increased transparency based on two indexes
Global soft landing could ameliorate US inflation – research
Study by San Francisco Fed finds rising prices of domestic goods are tied to international factors
Small economies still trigger ‘substantial’ spillovers – IMF paper
New data on monetary policy shocks allows economists to track cross-border impact
Liquid assets best placed to reap benefits of AI – IMF report
Study explores risks and rewards to capital markets from emerging technology