Research
Communicating uncertainty helps curb expectations – BoC paper
But conveying uncertainty about inflation weakens link between inflation and spending plans
Bundesbank paper looks at role of carbon emissions disclosures
Obliging firms to increase transparency boosts low-carbon investment, researchers find
Researchers warn US vacancies are ‘untethered’ from other data
Minneapolis Fed economists say US could face “more substantial job losses”
ECB paper examines firms’ response to carbon trading
Policy-makers should use subsidies for green innovation alongside carbon credits, researchers argue
Repo bankruptcy exemption carries ‘significant costs’ – paper
Apparent liquidity boost from US rule is undermined by greater risk of fire sales, authors say
DNB paper examines robustness of monetary policy
Policy must avoid tail risks caused by central banks’ uncertainty over output gap, researchers argue
ECB paper examines largest currency areas’ policy spillovers
Researchers study how foreign monetary policy shocks affect US, eurozone and Japan
US monetary policy drives defi credit cycles, HKMA study finds
Automatic liquidation could amplify shocks and trigger runs, author say
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
Leaders are key to adopting technology, RBA study finds
Australian firms use GPT better if executives have tech background or are female, research says
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
ECB paper analyses indirect channels of interbank contagion
Eurozone’s interbank market vulnerable to sovereign debt and non-bank sector shocks, research finds
Inflation may continue to fall, World Bank officials say
But core inflation and possible energy shocks continue to pose risks, researchers warn
Monetary policy helped curb inflation expectations – research
Higher rates could achieve a “soft landing” if the expectations channel is strong enough, authors say
Climate change increases inflation risks – ECB paper
Both level and volatility of inflation could increase due to rising temperatures, researchers say
Fed research looks at second-round effects of oil price inflation
Late 2022 oil price rally could cause inflationary pressure as late as mid-2025, paper finds
Credit lines can amplify stress – NBER paper
Study finds junk-grade firms draw more credit, and drawdowns can worsen liquidity shocks
ECB paper analyses impact of Chinese financial shocks
“China shocks” affect global commodities and equities, but less than US equivalents, researchers find
ECB paper studies ESG ratings’ effects on debt costs
Downgrades had only temporary effect on US firms’ bond spreads, researchers find
Smaller US banks face unequal real estate risk, paper says
St Louis Fed research finds lenders hold 40% to 75% of commercial real estate debt
More female Stem workers could boost Japan’s productivity – study
Tackling gender pay gaps and discrimination against female researchers could accelerate growth
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
US-China trade is falling, Fed researchers find
Fall driven by advanced technology trade, but other US allies are not following suit, paper finds
BIS names top journals for central bank research
Not all of the top five general economics journals make the list, and finance journals miss top spots