Central-Banks
SNB & CHF: The Swiss National Bank and Swiss Franc Blog
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Weekly SNB Interventions and Speculative Positions: Hawkish ECB, less SNB interventions
FX The EUR/CHF remained over 1.10 in the last week, thanks to hawkish comments from ECB president Draghi. Headlines Week July 17, 2017 On June 27, Draghi told the audience at the annual ECB Forum that transitory factors were holding back inflation. This has boosted the euro against both USD and CHF. Our opinion, however, is that this “transition” is very long, possibly comparable to the Japanese deflation/ low-inflation over decades. At the...
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Worin die populäre Geldschöpfungskritik irrt – Teil 1
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Moderne Portfoliotheorie bringt dem Anleger mehr Schaden als Nutzen
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The Swiss National Bank Owns $80 Billion In US Stocks – Here’s The Catch
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Banks in Switzerland 2016
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Central Banks Buying Stocks Have Rigged US Stock Market Beyond Recovery
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Swiss balance of payments and international investment position: Q1 2017
FRED
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Reflections on net migration : The (almost) mirror image behavior of net migration for the United States and Mexico
[embedded content] Some people move in, and some people move out. The difference, for each country, is its net migration. This FRED graph shows the 5-year estimates of net migration for the U.S. (solid line) and Mexico (dashed line), which include both citizens and noncitizens. Notice anything about the pattern? Net migration for the U.S. increased steadily from the mid-1960s to its peak in 1997: The largest increase was between 1992 and 1997,...
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The Great Recession’s regional effects : How have different industrial compositions affected unemployment for Census regions?
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Cost of living and per capita incomes in U.S. cities
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Healthy inflation? : Inflation in the healthcare industry vs. general CPI
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Women worldwide in the labor force : How does the participation of women relate to a nation’s overall employment ratio?
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A review of labor market conditions
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Regional price parities : How the cost of living differs across states
Bank Of Japan
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Designation of a Board Member to Perform the Duties of the Chairperson When the Chairperson Is Prevented from Attending to His Duties
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Minutes of the Monetary Policy Meeting on June 15 and 16, 2017
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T-Bills Purchased by the Bank of Japan
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Japanese Government Bonds Held by the Bank of Japan
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Bank of Japan Accounts (July 20)
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(Research Paper) Behavioral Biases in Firms’ Growth Expectations
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Notice on “Loans and Bills Discounted by Sector”
Swiss National Bank News
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2017-07-24 – Press release – Important monetary policy data for the week ending 21 July 2017
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2017-07-18 – Publication – SNB Research Report 2016
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2017-07-17 – Press release – Important monetary policy data for the week ending 14 July 2017
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2017-07-15 – Federal bond issues – Public bonds of the Swiss Confederation according to maturity (situation at 15.07.2017)
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2017-07-14 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 14 July 2017
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2017-07-10 – Press release – Important monetary policy data for the week ending 7 July 2017
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2017-07-07 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 7 July 2017
Atlanta Fed
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An Update on Labor Force Participation
« Another Look at the Wage Growth Tracker's Cyclicality | Main With the unemployment rate essentially back to prerecession levels, economists have been paying increased attention to the labor force participation rate (LFPR). Many economists, including those at the Congressional ...
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Another Look at the Wage Growth Tracker’s Cyclicality
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GDPNow’s Second Quarter Forecast: Is It Too High?
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Are Small Loans Hard to Find? Evidence from the Federal Reserve Banks’ Small Business Survey
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Slide into the Economic Driver’s Seat with the Labor Market Sliders
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The Fed’s Inflation Goal: What Does the Public Know?
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Going to School on Labor Force Participation
RBA
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Payment Systems and Netting Act 1998: Approval of Netting Arrangement
Under the Payment Systems and Netting Act 1998, the Bank has the power to grant approvals to real-time gross settlement (RTGS) systems and to multilateral netting arrangements. These approvals provide certain legal protections for obligations arising in such systems. At its meeting on 19 August 2016, the Payments System Board approved the multilateral netting arrangements...
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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BOK, HKMA, MAS, RBA and RBI Welcome the Publication of the FX Global Code
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Payments System Board Update: May 2017 Meeting
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Hong Kong and Australia hold 4th RMB Trade and Investment Dialogue
iMFdirect
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A Firming Recovery
By Maurice Obstfeld July 24, 2017 A building in Tokyo, Japan. The global recovery is on a firmer footing, with growth revised up for Japan, the euro area, China, and for emerging and developing economies more generally (photo: Issei Kato/Reuters/Newscom) The recovery in global growth that we projected in April is on a firmer footing; there is now no question mark over the world economy’s gain in momentum. As in our April forecast, the...
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Uganda’s Recipe for Growth
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IMF Support for the United Nations’ Sustainable Development Goals
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Chart of the Week: A Golden Aging for Vietnam?
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Corrosive and Costly Corruption
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What We Have Seen and Learned 20 Years After the Asian Financial Crisis
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Peer Pressure: Tax Competition and Developing Economies
JP Koning: Moneyness
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Dictionary money
Nick Rowe points out that if a central bank wants to control the economy's price level, it needn't issue any actual money—it can just edit the dictionary every morning, announcing the meaning of the word "dollar" or "yen" or "pound" to the public.To a modern ear trained on a steady diet of central bank verbiage about interest rates, QE, and open market operations, the idea of conducting monetary policy by simply...
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Money in an economy without banks
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An homage to the cheque (or check)
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The road to sound digital money
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On currency
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The forking of the Indian rupee
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Evaluating my bitcoin predictions
Impact Evaluations
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A new answer to why developing country firms are so small, and how cellphones solve this problem
Much of my research over the past decade or so has tried to help answer the question of why there are so many small firms in developing countries that don’t ever grow to the point of adding many workers. We’ve tried giving firms grants, loans, business training, formalization assistance, and wage subsidies, and found that, ...
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Weekly links July 21: a 1930s RCT revisited, brain development in poor infants, Indonesian status cards, and more…
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What a new preschool study tells us about early child education – and about impact evaluation
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False positives in sensitive survey questions?
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Weekly links July 14: Sociologists versus behavioral economists, mobile phone surveys, biometrics, and more
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Trouble with pre-analysis plans? Try these three weird tricks.
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What does a game-theoretic model with belief-dependent preferences teach us about how to randomize?
ECB Press Releases
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Yves Mersch: Central banking in times of technological progress
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Bank Negara Malaysia Monetary Policy Conference, Kuala Lumpur, 24 July 2017There have been many significant advances in technology over the three and a half centuries that central banks have existed: railways, electrification, computerisation, and the internet to name but a few. Each of these great waves of technological revolution has transformed how economies function....
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Euro banknote counterfeiting remains low in first half of 2017
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Results of the Q3 2017 ECB Survey of Professional Forecasters
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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
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Mario Draghi, Vítor Constâncio: Introductory statement to the press conference (with Q&A)
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Monetary policy decisions
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Results of the July 2017 euro area bank lending survey
Bank of Canada
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Bank of Canada recognizes RCMP’s Integrated Counterfeit Enforcement Team with Award of Excellence for Counterfeit Deterrence
FOR IMMEDIATE RELEASE Available as: PDF The Bank of Canada today presented the Royal Canadian Mounted Police’s Integrated Counterfeit Enforcement Team (ICET), C Division (Quebec), with the 2017 Law Enforcement Award of Excellence for Counterfeit Deterrence. This award, which has...
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Monetary Policy Report Press Conference Opening Statement
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Bank of Canada increases overnight rate target to 3/4 per cent
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Monetary Policy Report – July 2017
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Business Outlook Survey – Summer 2017
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Senior Loan Officer Survey – Second Quarter of 2017
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Markets Calling: Intelligence Gathering at the Bank of Canada
New York Fed
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How the Fed Changes the Size of Its Balance Sheet: The Case of Mortgage-Backed Securities
Deborah Leonard, Antoine Martin, Simon Potter, and Brett Rose In our previous post, we considered balance sheet mechanics related to the Federal Reserve’s purchase and redemption of Treasury securities. These mechanics are fairly straightforward and help to illustrate the basic relationships among actors in the financial system. Here, we turn to transactions involving agency mortgage-backed securities (MBS), which are somewhat...
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Just Released: Updated SOMA Portfolio and Income Projections
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How the Fed Changes the Size of Its Balance Sheet
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The Role of Central Bank Lending Facilities in Monetary Policy
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Market Liquidity after the Financial Crisis
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Low Productivity Growth: The Capital Formation Link
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At the New York Fed: Twelfth Annual Joint Conference with NYU-Stern on Financial Intermediation
RBNZ
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Kristin School wins Monetary Policy Challenge
Release date 06 July 2017 Kristin School (Auckland) has been named the national winner of the 2017 Reserve Bank of New Zealand Monetary Policy Challenge. Macleans College (Auckland) placed second and Saint Patrick’s College (Kilbirnie, Wellington) came third. The team from Kristin School (from left) Amar Hamilton-Vincent, Bruce Zhang, Rory Sutherland, William Baker, and Christine Zhang each won $500 for themselves and $2500...
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Survey shows insurers need to up their game
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Statement of Intent outlines RBNZ's priorities
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Reserve Bank broadens engagement with stakeholders
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Official Cash Rate unchanged at 1.75 percent
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Bulletin article outlines recent developments in financial market benchmarks
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Bulletin article reviews current economic expansion
Bank of International Settlement
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Implementation monitoring of PFMI: Level 2 assessment report for Singapore
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) continue to closely monitor the implementation of the Principles for financial market infrastructures (PFMI). The principles within the PFMI (the Principles) set expectations for the design and operation of key financial market infrastructures (FMIs) to enhance their safety and efficiency, and, more broadly, to limit...
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Implementation monitoring of PFMI: Fourth update to Level 1 assessment report
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The interplay of accounting and regulation and its impact on bank behaviour
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The discontinuation of the EUR/CHF minimum exchange rate in January 2015: was it expected?
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Segmented money markets and covered interest parity arbitrage
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Criteria for identifying simple, transparent and comparable short-term securitisations – consultative document
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Capital treatment for simple, transparent and comparable short-term securitisations – consultative document
FT Money Supply
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Money Supply 2014-07-29 13:41:38
This blog will no longer be updated. Our thoughts on all things central banking, along with the more wonkish elements of economic policy, will appear on Alphaville and The World blog. Thank you for reading. You can keep in touch using our author alerts and twitter.
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ECB caught up in economists’ spat
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TLTRO: how well has the ECB targeted its loans?
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Live blog: Mario Draghi’s monthly ECB press conference
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Japan’s inflation expectations: glass half empty?
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Carney’s (old) new normal
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ECB’s Cœuré backs student calls to overhaul economics curriculum