ECBPaper
Crypto deleveraging inverts monetary transmission to DeFi rates
Federal Reserve rate hikes frequently push decentralized finance deposit rates in the opposite direction due to crypto deleveraging.
AI Paper Curation
BDIPaper
Auto-hedging reaches 40 percent of Italian bond trades
Auto-hedging surged from minimal levels before 2016 to 40 percent of Italian sovereign bond trades on MTS by late 2024.
BDFPaper
Harmonised accounting doubles US saving rate to 10.7 percent
Harmonised accounting standards raised the 2025 US household saving rate from 4.6 percent under national metrics to 10.7 percent, while Germany reached 19.2 percent compared with 10.3 percent nationally, according to a study published by the Banque de France.
BISPaper
Bond yields climb as geopolitical tensions test global risk appetite
The Bank for International Settlements found that global risk appetite held firm in September 2026 despite rising bond yields, conflict in the Strait of Hormuz, and fiscal sustainability strains.
ECBPaper
Services spending boosts goods output via household income
An ECB working paper shows that government spending concentrated in services stimulates goods production and private consumption in an open economy.
ECBPaper
BDFPaper
Accounting rules double US saving rate but leave rankings intact
International accounting differences heavily distort national saving rates across advanced economies.
BDEPaper
Bayesian toolkit links Middle East oil shocks to macro projections
Banco de España researchers have developed a Bayesian framework that translates Middle East geopolitical risks into oil supply disruptions and macroeconomic price paths.
SNBPaper
Goods prices drive two-thirds of Swiss inflation gap to euro area
Swiss inflation averaged 0.4 percent over the past 15 years, trailing the euro area by 1.8 percentage points primarily due to lower goods price growth rather than distinct consumption habits, according to an SNB study.
BANXICOPaper
Mexican SPEI transfers hit 592 trillion pesos as non-banks expand
Banco de México reported that SPEI processed 7,308.1 million electronic transfers totaling 591.8 trillion pesos in 2025, equal to 16.8 times GDP.
BDIPaper
Domestic fast payment systems lower international remittance fees
Domestic fast payment systems reduce the cost of cross-border remittances by squeezing foreign exchange margins and intensifying provider competition.
BDFPaper
Input shortages drive more persistent inflation than freight shocks
Global supply-chain tensions stem from distinct structural shocks that carry unequal macroeconomic persistence.