ECB
FX forecasters show anti-herding, not consensus convergence
An ECB working paper finds mixed evidence of herding in foreign exchange rate forecasts, with results often pointing to anti-herding.
Paper
BCB
BCB sees no relevant financial stability risks
The Banco Central do Brasil (BCB) assesses that there are no relevant risks to financial stability.
FED
Euro area inflation perceptions drive consumer expectations
A Federal Reserve working paper shows that euro-area households' perceptions of recent price changes significantly influence their inflation expectations.
NORGES
Uniform flood insurance subsidizes high-risk properties
A Norges Bank working paper quantifies cross-subsidies in Norway's uniformly priced natural perils insurance scheme.
NORGES
Natural disasters cause hidden household costs despite insurance
A new Norges Bank study finds natural disasters inflict substantial indirect economic costs on households, even when direct damages are fully insured.
ECB
Fiscal policy effectiveness depends on networks, household MPCs
A new ECB working paper explores how sector-specific fiscal policy transmits through production networks with heterogeneous households.
BDI
AI adoption in Italy lags EU, boosts long-term productivity
A new Banca d'Italia paper finds that artificial intelligence adoption in Italian firms is growing but remains significantly below the European average.
BDI
Italian aid scheme boosts firm sales, not employment
A Banca d'Italia study on Italy's 'Decontribuzione Sud' program found it increased firm sales and profitability but had no measurable effect on employment or wages.
BDI
EU bonds pay premium due to legal status, small investor base
A Banca d'Italia Occasional Paper finds that European Union bonds pay higher interest rates than comparable sovereign issuers.
BIS
Pension funds shift from bonds to riskier assets globally
A new Bank for International Settlements (BIS) paper documents a global shift by pension funds away from fixed income securities towards mutual funds and alternative investments.
FED
Digital bank runs possible even with safe reserves
A new Federal Reserve paper reveals that digital money can experience runs even when fully backed by safe reserves.