ECB
Study reveals distinct crypto user profiles and cash interaction
A new European Central Bank working paper reveals distinct profiles for crypto-asset owners and payers in the euro area.
Paper
DNB
Loyalty rebates block new competition in payment card markets
A De Nederlandsche Bank (DNB) working paper examines how dominant payment card networks use rebates to issuing banks to deter new market entrants.
BDI
TARGET-Banca d'Italia outlines FMI access for firms in resolution
TARGET-Banca d'Italia has published its response to the Financial Stability Board's questionnaire on continuity of access to financial market infrastructures for firms in resolution.
BIS
Financial stability communication lags monetary policy, emphasizes risks
A new BIS working paper examines central bank communication on financial stability, finding it lags monetary policy communication and is persistently risk-focused.
ECB
Earnings manipulation signals weakly reflected in bank credit risk models
An ECB Occasional Paper reveals that signals of earnings manipulation are not fully absorbed by banks' internal credit risk models, particularly for firms not overtly flagged.
BDE
Banco de España strengthens public trust, financial stability, and digital euro
The Banco de España's 2025 Institutional Report details its efforts to enhance transparency, strengthen financial stability, and advance key initiatives like the digital euro.
BOJ
Japan's post-2020 inflation: Upstream surges, restrained downstream pass-through
Bank of Japan researchers investigated Japan's price pass-through dynamics during the 2020-2025 inflationary period using Final Demand-Intermediate Demand Price Indexes.
BDF
US monetary tightening drives capital inflows through investor repatriation, not foreign Treasury demand
A Banque de France working paper challenges the view that US monetary tightening primarily attracts foreign capital via US Treasuries.
BDF
Military buildup requires fiscal adjustments, impacting consumption and inequality
A Banque de France working paper analyzes the aggregate and distributional consequences of a permanent increase in government defense spending.
DNB
Structural labor market tightness threatens Dutch economic growth
The Dutch labor market faces significant and persistent tightness, driven by a stagnating labor supply.
BOE
Prior employment status significantly amplifies unemployment volatility
A Bank of England working paper reveals that an unemployed worker's previous labour force status is the strongest predictor of their attachment to the labour market.