A new Bank for International Settlements working paper finds that central bank funding schemes primarily reduce private wholesale funding costs, stimulating credit supply.
A report by a Committee on the Global Financial System (CGFS) working group identifies foreign currency funding shortages as a key driver of financial stress.
The Bank of Russia confirmed that tight monetary policy will be maintained for an extended period to bring inflation down to 4 percent.
A new working paper from the Federal Reserve Bank of Richmond models how diverse economic structures of Congressional Districts aggregate into national trade policy through legislative bargaining.
A new Bank for International Settlements (BIS) paper highlights that cross-border payments, especially for retail and remittances, remain costly, slow, and opaque.
A Bank of Canada working paper examines competition between public and private payment platforms in a two-sided market.
A Bank of Canada staff working paper introduces a semi-structural model that significantly improves professional inflation forecasts.
A new Oesterreichische Nationalbank working paper analyzes how multinational firms' internal capital markets transmit productivity and credit supply shocks across borders.
A new working paper examines the benefits of diversifying macroeconomic survey forecasts.
Public permissionless blockchains, by their decentralized nature, undermine the network effects crucial for money's coordination function, leading to a fragmented monetary landscape.
A new ECB working paper finds that the euro area's pandemic-era inflation surge was driven by a combination of supply and demand factors.