BISPaper
FX option data predicts large currency swings
A Bank of Japan working paper develops a model to predict large currency swings using transaction-level foreign exchange option data from trade repositories.
AI Paper Curation
BISPaper
New CPI series reveals higher US rental inflation 1914-2006
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.
BISPaper
Nonresponse in BLS Housing Survey biases CPI shelter inflation
A new working paper examines how nonresponse in the BLS Housing Survey affects the accuracy of US CPI shelter inflation.
BISPaper
Study: Fee caps can boost rewards, cross-subsidies in payment networks
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.
BISPaper
Fannie Mae algorithm creates 50% DTI cliff, denies home buyers
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.
BISPaper
BOJPaper
BOJ to revise Tankan survey, adds wage data collection
The Bank of Japan plans to revise its quarterly Tankan business survey.
FEDPaper
Financial liberalization fuels booms, raises crisis risk
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.
BISPaper
Study: Households cut spending on perceived inflation from rate hikes
A new Bank for International Settlements (BIS) working paper reveals how US households perceive monetary policy transmission.
ECBPaper
China's state-led research plan boosted global scientific output
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.
RIKSBANKPaper
Policy effects stay stable but inflation sensitivity varies
A Riksbank staff memo estimates the effects of monetary policy in ten small open economies using a standardised SVAR framework.
BDEPaper
BDE Financial Stability Review celebrates 25 years
The Banco de España's 'Revista de Estabilidad Financiera' (Financial Stability Review) celebrates its 25th anniversary with its 50th issue.