Bank for International Settlements
BIS
Paper
Economy size and inflation drive exchange rate pass-through
A new Bank for International Settlements working paper examines the drivers of exchange rate pass-throughs across nearly 100 countries over four decades.
Focus
BIS
Paper
Hidden corporate debt distorts leverage and reduces investment
A Federal Reserve working paper documents widespread hidden leverage in nonfinancial corporations through operating leases and intra-period borrowing.
BIS
Paper
Auto loan default sensitivity to unemployment declines sharply
A Federal Reserve Bank of Cleveland working paper published in July 2026 reveals persistent instability in the sensitivity of auto loan defaults to unemployment.
Latest
BIS
Paper
Demand shocks generate endogenous uncertainty over business cycle
A Federal Reserve working paper examines how consumer credit shocks drive endogenous uncertainty and amplify business cycles.
BIS
Paper
LCR buffers enable banks to maintain credit during stress
A Federal Reserve working paper shows that banks with higher regulatory liquidity buffers provided significantly more credit during the March 2020 COVID-19 stress.
BIS
Press
Central banks to explore AI-augmented expertise at IFC workshop
The BIS Irving Fisher Committee (IFC) announced its 5th workshop on Data Science in Central Banking, co-hosted with the Central Bank of the Republic of Türkiye.
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BIS
Paper
Stablecoins mirror dollarisation and challenge monetary control
Stablecoins offer a new channel for US dollar access in emerging market and developing economies (EMDEs), mirroring traditional deposit dollarisation.
BIS
Paper
LSAPs affect yields or liquidity based on central bank intent
A new working paper reveals that central bank large-scale asset purchases (LSAPs) have distinct effects depending on their primary objective.
BIS
Paper
Frontier AI heightens cyber risk, asymmetric costs favor attackers
A new Bank for International Settlements (BIS) Bulletin warns that frontier artificial intelligence (AI) models significantly enhance cyber offensive capabilities.
BIS
Paper
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.
BIS
Paper
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.
BIS
Paper
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.