해외동향 | Wall Street vs. Main Street QE | 한국금융연구원

[LHKOREA]

2020-06-09 일자 [제 20-42 호]

Wall Street vs. Main Street QE
NBER (2020-06-09)

The Federal Reserve has reacted swiftly to the COVID-19 pandemic. It has resuscitated many of its programs from the last crisis by lending to the financial sector, which we refer to as “Wall Street QE.” The Fed is now pr ..  more

This Changes Everything: Climate Shocks and Sovereign Bonds
IMF (2020-06-09)

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sove ..  more

The effectiveness of macroprudential policies and capital controls against volatile capital inflows
BIS (2020-06-09)

This paper compares the effectiveness of macroprudential policies (MaPs) and capital controls (CCs) in influencing the volume and composition of capital inflows, and the probability of banking and currency crises. We dis ..  more

제 목	발행기관
Classical Decomposition of Markowitz Portfolio Selection	Bank of Canada
The Term Structures of Loss and Gain Uncertainty	Bank of Canada
Trading on Long-term Information	Bank of Canada
The Efficacy of Hiring Credits in Distressed Areas	Bank of Mexico
How should U.S. bank regulators respond to the COVID-19 crisis?	Brookings
What's the ECB doing in response to the COVID-19 crisis?	Brookings
What's the Fed doing in response to the COVID-19 crisis? What more could it do? (updated)	Brookings
Global Supply Chains : Will a Focus on Essential Supply Chains Further Accelerate the Relocation of Manufacturing Out of China?	Citi GPS
Shadow Insurance? Money Market Fund Investors and Bank Sponsorship	FDIC
On Using SIR Models to Model Disease Scenarios for COVID-19	FRB of Minneapolis
The Rise of US Earnings Inequality: Does the Cycle Drive the Trend?	FRB of Minneapolis
A Survey of Fintech Research and Policy Discussion	FRB of Philadelphia
Forecasting Consumption Spending Using Credit Bureau Data	FRB of Philadelphia
Partisanship and Fiscal Policy in Economic Unions: Evidence from U.S. States	FRB of Philadelphia
The Cyclicality of Labor Force Participation Flows: The Role of Labor Supply Elasticities and Wage Rigidity	FRB of Philadelphia
Advancing U.S.- Korean Economic Cooperation for a Post-Pandemic World	Heritage
Potential Long-Term Economic Consequences of the Federal Response to the COVID-19 Lockdowns	Heritage
Agglomeration and Industry Spillover Effects in the Aftermath of a Credit Shock	IJCB
Credit, Financial Conditions, and Monetary Policy Transmission	IJCB
From Window Guidance to Interbank Rates: Tracing the Transition of Monetary Policy in Japan and China	IJCB
Positive Trend Inflation and Determinacy in a Medium-Sized New Keynesian Model	IJCB
Real Term Structure and New Keynesian Models	IJCB
Reserves for All? Central Bank Digital Currency, Deposits, and Their (Non)-Equivalence	IJCB
The Surprising Recovery of Currency Usage	IJCB
What Can the Data Tell Us about the Equilibrium Real Interest Rate?	IJCB
Notes on Intersectional Political Economy	Levy
The Impact of Technological Innovations on Money and Financial Markets	Levy
Feeding the world sustainably	McKinsey
The future of Asia: Decoding the value and performance of corporate Asia	McKinsey
The state of North American retail wealth management	McKinsey
An Event Study of COVID-19 Central Bank Quantitative Easing in Advanced and Emerging Economies	NBER
Exchange Rates and Asset Prices in a Global Demand System	NBER
Short-run Effects of COVID-19 on U.S. Worker Transitions	NBER
Taxes and the Reval‎uation of Household Wealth	NBER
The Great Disconnect: The Decoupling of Wage and Price Inflation in Japan	NBER
The Impact of Covid-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey	NBER
Trading Off Consumption and COVID-19 Deaths	NBER
Wall Street vs. Main Street QE	NBER
Weak Credit Covenants	NBER
What We Know and Don't Know about Climate Change, and Implications for Policy	NBER
Working Remotely and the Supply-side Impact of Covid-19	NBER
Credit Decisioning Agility And Governance	Oliver Wyman
A new policy toolkit is needed as countries exit COVID-19 lockdowns	PIIE
China thinks Macau can replace Hong Kong as an international financial hub	PIIE

제 목	발행기관
Identification of structural vector autoregressions by stochastic volatility	Bank of England
Informed trading in government bond markets	Bank of England
Monetary policy and the management of uncertainty: a narrative approach	Bank of England
Non-linearities, asymmetries and dollar currency pricing in exchange rate pass-through: evidence from the sectoral level	Bank of England
The Future of Post-Trade: Findings from the Post-Trade Technology Market Practitioner Panel	Bank of England
Are bank capital requirements optimally set? Evidence from researchers' views	Bank of Finland
The People's Bank of China's response to the coronavirus pandemic - A quantitative assessment	Bank of Finland
EU-China trade and investment relations in challenging times	Bruegel
Study on the differences between bank insolvency laws and on their potential harmonisation	Bruegel
Covid 19: a new challenge for the EMU	CEPR
Long-Term Care Facilities as a Risk Factor for Death Due to COVID-19	CEPR
Policies to support firms in a lockdown: A pecking order	CEPR
The search theory of OTC markets	CEPR
Waning Immunity and the Second Wave: Some Projections for SARS-CoV-2	CEPR
The (ir)relevance of the nominal lower bound for real yield curve analysis	Deutsche Bundesbank
The Impact of Carbon Disclosure Mandates on Emissions and Financial Operating Performance	DIW
Bounded rationality in Keynesian beauty contests: a lesson for central bankers?	Economics
The Size of Government	EconPol
Connecting Digital Economies: Policy Recommendations for Cross-Border Payments	WEF
Future of Consumption in Fast-Growth Consumer Markets: ASEAN	WEF
The Impact of COVID-19 on the Future of Advanced Manufacturing and Production: Insights from the World Economic Forum's Global Network of Advanced Manufacturing Hubs	WEF
The Media, Entertainment and Culture Industry's Response and Role in a Society in Crisis	WEF

제 목	발행기관
Post-2020 Poverty Reduction Policy Options for the People's Republic of China	ADB
Public Financial Management Systems - Myanmar: Key Elements from a Financial Management Perspective	ADB
Reforming the Personal Income Tax System in the People's Republic of China	ADB
The Impact of Nonperforming Loans on Cross-Border Bank Lending: Implications for Emerging Market Economies	ADB
Environmental, Social, and Governance Investment: Opportunities and Risks for Asia	ADBI
일본 금융기관의 해외 신용투융자 동향 (In Japanese)	BOJ
휴업 및 실업시 소득보상 : 코로나19로 예상되는 향후 소득보상제도 (In Japanese)	Mizuho Research Institute
Incentive or Disincentive for Disclosure of Research Data? A Large-Scale Empirical Analysis and Implications for Open Science Policy	RIETI
Labor Market Flexibility and Inward Foreign Direct Investment	RIETI

제 목	발행기관
Central bank bond purchases in emerging market economies	BIS
Central banks' response to Covid-19 in advanced economies	BIS
The Basel Framework: frequently asked questions	BIS
The effectiveness of macroprudential policies and capital controls against volatile capital inflows	BIS
Public-Private Partnership Systems and Sustainable Development in Asia and the Pacific	ESCAP
Artificial Intelligence Innovation in Financial Services	IFC
COVID-19 and the Insurance Industry: Why a Gender-Sensitive Response Matters	IFC
Estimated Policy Rules for Capital Controls	IMF
How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area	IMF
Liquidity at Risk: Joint Stress Testing of Solvency and Liquidity	IMF
Measuring the Impact of a Failing Participant in Payment Systems	IMF
This Changes Everything: Climate Shocks and Sovereign Bonds	IMF
Why Did Public Banks Lend More During the Global Financial Crisis?	IMF
Building Back Better: A Sustainable, Resilient Recovery after COVID-19	OECD
Culture as a cure : Assessments of patient safety culture in OECD countries	OECD
Managing and measuring the impact of sustainable investments : A two-axes mapping	OECD
Responding to the COVID-19 and pandemic protection gap in insurance	OECD
Supporting businesses in financial distress to avoid insolvency during the COVID-19 crisis	OECD
Global Economic Prospects, June 2020	World Bank
Informality, Consumption Taxes and Redistribution	World Bank
Power to the Fiscal ? An Exploration of the Use of Credit Ratings to Estimate the Expected Cost of a Guarantee of a Power-Purchase Agreement	World Bank
The Evolution of Services Trade Policy Since the Great Recession	World Bank
The Important Role of Equivalence Scales : Household Size, Composition, and Poverty Dynamics in the Russian Federation	World Bank
Winners and Losers from COVID-19 : Global Evidence from Google Search	World Bank

제 목	발행기관
A New Kind of Hedge Fund Activism Has Arrived	bloomberg
New Zealand Ends Social Distancing After Eliminating Covid	bloomberg
America's Safety Net Is Failing Its Workers	bloomberg
What the Hong Kong Dollar Peg Is and Why It Matters	bloomberg
How the World Views the Protests in America	bloomberg
HSBC, StanChart Defy U.K. to Endorse Hong Kong Security Law	bloomberg
It's Time to Kill This Deficit Bogeyman	bloomberg
Negative Rate Benefits Seen Limited for Singapore's Stock Market	bloomberg
IMF Sees Little Scope for Argentina to Boost Debt Offer	bloomberg
Mortgage Sector Off to Worst Start Since 2013 Despite Fed Help	bloomberg
The pandemic is hurting China's Belt and Road Initiative	economist
The pandemic is still gathering pace in most of the world	economist
Americans saved a record chunk of their incomes in April	economist
Can Hong Kong remain a global financial centre	economist
Standoffish North Korea discovers the limits of self-reliance	economist
The grim racial inequalities behind America's protests	economist
China has launched rule by fear in Hong Kong	economist
The violence in American cities reflects the fury of polarisation	economist
Government handouts threaten Europe's single market	economist
The case for mandatory masks	economist
Investors fret as leveraged loan market gets junkier	ft
Managing Covid debt mountains is a key task for the next decade	ft
How things could go very wrong in America	ft
What to tell young people about the systemic hatred in our society	ft
Pentagon chief breaks with Trump over using troops for protests	ft
US threatens to bar Chinese airlines	ft
Google takes down smartphone service targeting Chinese apps	ft
New York unrest leaves political leaders at odds	ft
America's inequalities burst into the open	ft
ESG pressure on dividend payouts to continue after crisis	ft
Fed Debates Whether to Reinforce Low Rate Pledge With Yield Caps	wsj
Where Employment Improved and Where It Didn't	wsj
Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks	wsj
Should You Tap Retirement Funds in a Crisis	wsj
Coronavirus Pandemic Drives Unemployment Up Across U.S. Metro Areas	wsj
Israel Shuts Some Schools as Coronavirus Cases Jump After Reopening	wsj
China's Barely Begun Economic Recovery Shows Signs of Stalling	wsj
Every Protester Has a Reason	wsj
CBO Says Economy Could Take Nearly 10 Years to Catch Up After Coronavirus	wsj
U.S. Economy Faces Projected 10 Year Recovery From Coronavirus Effects	wsj