Bank for International Settlements
BISPaper
Household attention gates monetary policy transmission to beliefs
A Federal Reserve Bank of Atlanta working paper finds that monetary policy transmission to household beliefs is state-dependent, as households endogenously adjust attention to macroeconomic conditions.
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BISPaper
Social Security boosts sons' mobility, earnings across generations
A new Federal Reserve Bank of Atlanta working paper finds that early Social Security coverage enabled sons of recipients to move farther from home, earn more, and live in better neighborhoods.
BISPaper
Financially constrained firms dampen inflation response to policy
Firm heterogeneity in financial constraints significantly shapes how monetary policy transmits to inflation, a new study finds.
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BISPaper
Non-banks now central to sovereign-bank risk nexus
A new Bank for International Settlements working paper documents that the traditional sovereign-bank nexus has expanded to include non-bank financial institutions.
BISPaper
Ample reserves dynamics risk balance sheet instability
A Philadelphia Fed working paper explores how the implementation of monetary policy can lead to unstable central bank balance sheet dynamics.
BISPaper
Geopolitical risk raises EM sovereign credit costs
A new Bank for International Settlements working paper finds that geopolitical risk significantly raises sovereign credit default swap (SCDS) and bond index (EMBI) spreads in emerging markets.
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BISPaper
Export controls target high-tech trade, shaped by geopolitics
A Federal Reserve Bank of St. Louis working paper characterizes how export controls are allocated across products and destinations.
BISPaper
AI investment race leads to over-commitment, financial fragility
A new Bank for International Settlements working paper finds that the AI investment boom is characterized by excessive resource commitment and financial fragility.
BISPaper
AI disruption threatens private credit software exposures
A Bank for International Settlements (BIS) Bulletin finds that private credit firms, particularly Business Development Companies (BDCs), have significant exposure to software firms vulnerable to generative AI disruption.
BISPaper
Capacity utilization drives state-dependent labor tax effects on hours
A new BIS working paper develops a business cycle model demonstrating that the aggregate hours elasticity is higher in recessions.
BISPaper
Digital payments reshape markets, incumbents retain dominance
A new Bank for International Settlements (BIS) bulletin examines the rapidly evolving landscape of retail digital payments.
BISPaper
Mortgage lock-in reduces sellers, but lower rates tighten markets
A new working paper from the Federal Reserve Bank of Philadelphia finds that elevated mortgage rates cause homeowners to delay selling, reducing transaction volumes.