A new Federal Reserve Bank of Cleveland working paper by Hugh Montag and Randal J. Verbrugge proposes an implicit-contracts theory to explain the notorious stickiness of continuing-tenant rents.
A new working paper from the Oesterreichische Nationalbank finds that the 'double trigger' of liquidity stress and negative equity is the strongest predictor of mortgage default in Europe.
A new working paper from the Federal Reserve Bank of Philadelphia constructs a revised Consumer Price Index for 1914-2006, revealing significantly higher rental price inflation than official estimates.
A new working paper examines how nonresponse in the BLS Housing Survey affects the accuracy of US CPI shelter inflation.
A new Federal Reserve Bank of Philadelphia working paper reveals that capping interchange fees can increase cardholder rewards and intensify cross-subsidization in payment networks, particularly when consumer demand is inelastic.
A Federal Reserve Bank of St. Louis study reveals Fannie Mae's automated underwriting creates a 50% debt-to-income (DTI) threshold, causing a 7.5-percentage-point jump in mortgage denials.
A Bank of Japan working paper develops a model to predict large currency swings using transaction-level foreign exchange option data from trade repositories.
The Bank of Japan plans to revise its quarterly Tankan business survey.
A new Federal Reserve study finds that financial liberalizations directly expanding credit supply lead to temporary economic booms but increase the risk of financial crises.
A new Bank for International Settlements (BIS) working paper reveals how US households perceive monetary policy transmission.
An ECB working paper finds China's 2006 National Medium- and Long-Term Plan for Science and Technology propelled it past the United States as the leading producer of scientific research.