Bank for International Settlements
BIS
Paper
Implicit contracts explain sticky rents and nominal rigidity
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.
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BIS
Paper
Double trigger drives European mortgage default, institutions matter
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.
BIS
Paper
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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BIS
Paper
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.
BIS
Paper
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.
BIS
Paper
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.
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BIS
Paper
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.
BIS
Paper
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.
BIS
Paper
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.
BIS
Paper
Project Aperta enables cross-border open finance interoperability
Project Aperta, a BIS initiative, explores the feasibility of cross-border open finance interoperability.
BIS
Paper
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.
BIS
Paper
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.