ECBPaper
Renewables curb power prices as gas pass-through accelerates
An ECB study shows that renewable energy growth has weakened the link between wholesale gas and electricity prices across the euro area.
AI Paper Curation
FEDPaper
Vulnerabilities delay policy impact and amplify shocks
Federal Reserve researchers introduced a Financial Vulnerability Index tracking 39 indicators across four systemic categories.
ECBPaper
Middle East conflict lifts input costs for 79 percent of firms
Euro area firms face elevated input cost expectations following the Middle East conflict, with small enterprises and trade sectors reporting the highest exposure, according to the ECB SAFE survey for the second quarter of 2026.
ECBPaper
Buffer fragmentation reduces corporate lending by 50 basis points
European Central Bank researchers Markus Behn, Marco Forletta, and Alessio Reghezza found that capital buffer fragmentation reduces corporate lending growth by 50 basis points.
ECBPaper
News narratives on supply shocks lift inflation risk premia
An ECB working paper shows that inflation risk premia in the euro area and the US are inversely related to media narratives attributing inflation to demand versus supply drivers.
ECBPaper
FEDPaper
Perceived Taylor rule responses show limited time variation
Federal Reserve researchers Edward Herbst and Karen Page find that perceived monetary policy rules show little time variation once pooling restrictions are selected by data.
BOCPaper
Credit crises trigger jobless recoveries unless inflation spikes
Financial crises in developed economies trigger jobless recoveries with employment staying 3.4 percent below pre-crisis levels at output recovery.
BOCPaper
Quantum reordering frees up to €167 million daily in TARGET2
Reordering payment batches with quantum and classical algorithms reduces daily liquidity requirements in TARGET2 by up to €167 million, according to research by the Bank of Italy and the Bank of Canada.
BOCPaper
Two-step estimator maps term structure models to bond supply shocks
A Bank of Canada working paper introduces a two-step estimator that bypasses fixed-point problems by mapping Gaussian dynamic term structure models into portfolio-balance primitives.
BOCPaper
Robot adoption expands payroll and lifts non-owner labor share
Industrial robot adoption by Canadian private manufacturers increased non-owner worker payroll by 71 percent and raised the labor share of value added by 1.4 percentage points between 2002 and 2018, according to a Bank of Canada working paper.
FEDPaper
Expected weather losses reduce Florida home values by 0.5 percent
A Federal Reserve Board research paper finds that Florida residential real estate prices rationally incorporate ex ante weather risk, with higher expected storm losses lowering property valuations at an implied discount rate of about 2.1 percent.