Fintech regulation: how to achieve a level playing field
Fintech regulation: how to achieve a level playing field - Occasional Papers No 17, February 2021
Supporting migrant children in lockdown: time for joined-up thinking
This blog was first published by Social Policy Association
Answering the Queen: Machine learning and financial crises
Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary policy and fiscal policy. We use the general framework of sequential predictions also called online machine learning to forecast crises out-of-sample.
What 31 provinces reveal about growth in China
It is important to understand the growth process under way in China. However, analyses of Chinese growth became increasingly more difficult after the real GDP doubling target was announced in 2012 and the official real GDP statistics lost their fluctuations. With a dataset covering 31 Chinese provinces from two decades, we have substantially more variation to work with.
Permissioned distributed ledgers and the governance of money
We explore the economics and optimal design of "permissioned" distributed ledger technology (DLT) in a credit economy. Designated validators verify transactions and update the ledger at a cost that is derived from a supermajority voting rule, thus giving rise to a public good provision game.
Ready, steady, go? - Results of the third BIS survey on central bank digital currency
Most central banks are exploring central bank digital currencies (CBDCs), and their work continues apace amid the Covid-19 pandemic. This BIS paper updates earlier surveys that asked central banks how their plans in this area are developing.
Minimum haircut floors for securities financing transactions
The Basel Committee is publishing the consultative document "Minimum haircut floors for securities financing transactions", January 2021.
Optimal bank leverage and recapitalization in crowded markets
We study optimal bank leverage and recapitalization in general equilibrium when the supply of specialized investment capital is imperfectly elastic.
The Lockdown Weighted inflation CPILW for December 2020
This blog is written by NIESR Fellow Huw Dixon. Any opinions expressed in the paper are those of the author, and do not necessarily reflect the views of the Institute
Summary
The CPILW rose slightly from 0.7% in November to 0.8% in December. The CPIH measure of inflation also increased from 0.6% in November 2020 to 0.8% in December. Both measures indicate an increase in inflation in December.
Does regulation only bite the less profitable? Evidence from the too-big-to-fail reforms
Regulatory reforms following the financial crisis of 2007–08 created incentives for large global banks to lower their systemic importance. We establish that differences in profitability shape banks' response to these reforms.
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