Bank for International Settlements
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.
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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.
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.
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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.
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.
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.
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Cross-border payments: 2025 survey highlights progress
A 2025 monitoring survey by the BIS Committee on Payments and Market Infrastructures (CPMI) identifies key advancements in making cross-border payments cheaper, faster, and more inclusive.
Project Aperta enables cross-border open finance interoperability
Project Aperta, a BIS initiative, explores the feasibility of cross-border open finance interoperability.
China's inflation dynamics fit New Keynesian framework
A new Bank for International Settlements (BIS) working paper finds that China's inflation dynamics fit the New Keynesian Phillips Curve framework surprisingly well.
Global standards for insurer resolution frameworks
The Financial Stability Board (FSB) and the International Association of Insurance Supervisors (IAIS) have established international standards for insurer resolution frameworks.
Real global house prices decline, emerging markets hit hardest
Real global house prices declined by 0.6 percent year-on-year in the fourth quarter of 2025, according to the Bank for International Settlements.
Bache: Norges Bank refines models for policy decisions
Ida Wolden Bache, Governor of Norges Bank, discussed the central bank's use of macroeconomic models in monetary policy decision-making.