BDIPaper
Two-tier framework proposed to standardize EU green loans
Banca d'Italia researchers propose a two-tier classification for EU green loans to resolve operational hurdles under the EU Taxonomy.
AI Paper Curation
BDFPaper
Distributional HANK models reshape central bank DSGE toolkits
Christophe Cahn, Patrick Fève and Julien Matheron trace the evolution of DSGE models in central banking in a Banque de France paper.
ECBPaper
Quarterly stress indices untangle bank capital and earnings risks
Two new quarterly indicators derived from EU-wide stress tests track euro area banking vulnerabilities by separating conditional capital depletion from organic earnings capacity.
ECBPaper
Shareholder home bias drives 20 percent deeper investment cuts
Euro area companies with geographically diversified shareholders reduced capital expenditure by 20 percent less during the pandemic shock than home-biased peers.
BDEPaper
Polarization curbs investment by 2.2 percent across seven nations
A study from Banco de España tracking seven democracies shows political polarization has surged since 2009, rising twice as fast in North America as in Europe.
BDIPaper
BISPaper
Geopolitical risks boost gold most under loose financial conditions
Geopolitical risks increase gold returns substantially more when global financial conditions are loose, according to a Bank for International Settlements study.
DNBPaper
US quantitative easing raises global commercial property prices
A 10 basis point drop in long-term US yields from quantitative easing raises global commercial real estate prices by 4 percent over two years, according to a De Nederlandsche Bank working paper.
ECBPaper
Operational independence drives macroprudential action in the EU
16 of 27 EU member states anchor both designated macroprudential and microprudential authority within their central banks.
BDEPaper
Sticky prices and twin habits explain equity and bond yield curves
Nominal price rigidities combined with market and home consumption habits reconcile macroeconomic quantities with equity and bond yield curves, according to research by Pierlauro Lopez, Francisco Vázquez-Grande and David López-Salido.
BDIPaper
Traditional cash and card mix dominates Italian payments
A study by Banca d’Italia categorises Italian consumers into five behavioural profiles using payment diaries and artificial intelligence.
ECBPaper
Euro area rate hikes take up to four years to hit euroised Balkans
European Central Bank interest rate changes transmit to Montenegro and Kosovo with a two-to-four-year delay, an ECB study finds.