Focal Interest
Focal Interest

Monetary policy

  1. Currency depreciation is linked to higher non-performing assets in Indian banks
    Explore how currency depreciation, inflation, and monetary policy drive non-performing assets in Indian banking. Study of 30 banks reveals exchange rate management matters more than GDP growth for.
  2. Unfunded fiscal shocks were not the main driver of Japan's inflation
    Analysis of how fiscal shocks influenced inflation in Japan over four decades, revealing demand and monetary factors rather than fiscal imbalances as primary drivers.
  3. Monetary policy effects and inflation expectations have shifted over time
    Machine learning analysis reveals strengthened monetary policy transmission but flattened Phillips curve dynamics, with regime-dependent behavior during post-pandemic inflation.
  4. Positive CBDC stance linked to higher bank net interest margin
    Study shows CBDC development leads banks to widen interest margins by raising both deposit and lending rates to counter increased competition from digital currencies.
  5. U.S. policy easings strengthened the dollar during the Great Recession
    Forward guidance monetary policy easings appreciated the dollar during the Great Recession through flight-to-safety effects and inflation expectations, contradicting interest rate parity.
  6. Fiscal discipline shapes how central bank independence affects inflation volatility
    Explore how central bank independence and transparency affect inflation volatility in small open economies like Tunisia through game theory and empirical analysis.
  7. Inflation weakens the sovereign-bank doom loop
    Study examines how inflation and money supply influence the sovereign-bank relationship and the debt-lending feedback loop using quantile VAR analysis.
  8. Supply chain shocks raise macro-financial downside risk
    Study examines how global supply chain shocks increase macro-financial downside risk and whether monetary policy can buffer these transmission channels using quantile models and vector autoregression.
  9. Morocco’s bank credit shows short-run inertia, not immediate policy-rate response
    ARDL–ECM analysis reveals limited short-run monetary transmission to bank credit in Morocco, with dynamics driven by prudential and balance-sheet channels rather than interest-rate mechanisms.
  10. Oil revenue shocks affected Russia differently after 2014
    Subsample analysis reveals structural breaks in Russia's oil revenue shock transmission mechanisms post-2014, showing reversed fiscal policy effects and strengthened monetary policy inflation.
  11. Bank diversification has mixed effects on performance
    Systematic review of bank diversification and performance 2006-2025, examining how monetary policy and macroeconomic conditions influence diversification strategy outcomes and risk-adjusted returns.
  12. European housing markets mediate monetary policy effects
    Analyze how monetary policy affects European housing markets over 30 years, revealing housing prices respond more strongly than inflation and output to policy shocks.
  13. Evaluating Central Bank Strategies in Curbing Inflation While Sustaining Growth
    Analysis of central bank strategies balancing inflation control with growth, examining policy instruments, trade-offs, and framework effectiveness across economies.
  14. Yield curve factors predict growth in some countries, not inflation
    Analysis of yield curve predictive power for growth and inflation across 40 countries finds stronger performance in developed and CEE economies and low-credibility contexts.
  15. Two inflation regimes detected in WAEMU
    Advanced cyclical turning point indicators for inflation in WAEMU using regime-switching models reveal that external factors like oil prices and imported inflation, beyond central bank control.
  16. Why Higher Trend Inflation Makes Monetary Policy More Costly in South Africa
    Fiscal DSGE analysis for South Africa showing higher trend inflation increases costs via price dispersion; lower trend inflation reduces these costs.