Report NEP-CBA-2026-07-20

This is the archive for NEP-CBA, a report on new working papers in the area of Central Banking. Sergey Pekarski issued this report. It is usually issued weekly.

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Other reports in NEP-CBA

The following items were announced in this report:

• Hans Gersbach & Jean-Charles Rochet & Ernst-Ludwig von Thadden, 2026, "Central Bank Reserves and the Balance Sheet of Banks," CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany, number crctr224_2025_764, Jun.
• Ehrmann, Michael & Hubert, Paul, 2026, "The Overdelivery Premium: When Monetary Policy Decisions Exceed Market Expectations," CEPR Discussion Papers, Centre for Economic Policy Research, number 21241, Mar.
• Rose Portier, 2026, "The Phase-Dependent Effects of Monetary Policy: Plateau vs Cycle," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, number 26008, Jun.
• Matteo Deleidi & Enrico Sergio Levrero & Antonino Lofaro, 2026, "Income Distribution and the Cost Channel of Monetary Policy: Evidence from Japan, the UK, and the US," FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute, number 124-2026.
• Canova, Fabio & Pérez Forero, Fernando J., 2026, "Does the Transmission of Monetary Policy Shocks Change when Inflation is High?," CEPR Discussion Papers, Centre for Economic Policy Research, number 21339, Mar.
• Stefan Nagel, 2026, "Leaning Against Inflation Experiences," NBER Working Papers, National Bureau of Economic Research, Inc, number 35379, Jun.
• Benigno, Pierpaolo, 2026, "Stablecoins and Central Bank Digital Currencies: Who Supplies Liquidity?," CEPR Discussion Papers, Centre for Economic Policy Research, number 21033, Jan.
• Corsetti, Giancarlo, 2026, "An FTPL Approach to International Reserve Accumulation," CEPR Discussion Papers, Centre for Economic Policy Research, number 21113, Feb.
• Chen Lin & Eswar S. Prasad & Daniel Rabetti & Che Zhang, 2026, "Digital Safe Havens: The Economics of Tokenized Treasuries," NBER Working Papers, National Bureau of Economic Research, Inc, number 35412, Jul.
• Wolf, Martin & Zessner-Spitzenberg, Leopold, 2026, "Financial Dominance and Macroeconomic Expectations," CEPR Discussion Papers, Centre for Economic Policy Research, number 21161, Feb.
• Sriya Anbil & Alyssa G. Anderson & Ethan Cohen & Romina Ruprecht, 2026, "Beyond Reserves: The Federal Reserve's Balance Sheet and the Repo Market," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2026-041, Jun, DOI: 10.17016/FEDS.2026.041.
• Bouscasse, Paul & Hong, Seungki, 2026, "Fiscal-Monetary Interactions in the United States," CEPR Discussion Papers, Centre for Economic Policy Research, number 21084, Jan.
• Luo, Yulei & Qu, Lijuan & Wang, Gaowang, 2026, "Optimal Monetary Policy under Rational Inattention and a Cost Channel," MPRA Paper, University Library of Munich, Germany, number 128958, Apr.
• Kengo NUTAHARA, 2026, "Money Illusion and Asset-Price-Targeting Monetary Policy," CIGS Working Paper Series, The Canon Institute for Global Studies, number 26-010E, Jul.
• Mark Setterfield & Christopher R. Herdelin, 2026, "Central bank activity, the Goodwin pattern, and secular decline in the wage share," Working Papers, New School for Social Research, Department of Economics, number 2608, Jul.
• Agarwal, Sumit & Mayordomo, Sergio & Rodriguez Moreno, Maria & Tarantino, Emanuele, 2026, "Mortgage Liquidity Shocks and Corporate Lending: Evidence from Household-Initiated Bank Balance Sheet Adjustment," CEPR Discussion Papers, Centre for Economic Policy Research, number 21039, Jan.
• Albertazzi, Ugo & Faber, Finn & Georgescu, Oana-Maria & Gavazza, Alessandro & Lecomte, Ernest, 2026, "Bank deposit pricing in the euro area," Working Paper Series, European Central Bank, number 3255, Jul.
• Bignon, Vincent & Jobst, Clemens, 2025, "Eligibility to the Central Bank in Times of Crises: Evidence from France, 1863–1890," CEPR Discussion Papers, Centre for Economic Policy Research, number 20974, Dec.
• Adam, Christopher & Luk, Paul & Vines, David, 2026, "Monetary and Fiscal Coordination in the Face of Supply-Side Shocks: With an Application to the Effects of the War in Ukraine," CEPR Discussion Papers, Centre for Economic Policy Research, number 21147, Feb.
• Bellifemine, Marco & Couturier, Adrien & Jamilov, Rustam, 2026, "The Regional Keynesian Cross," CEPR Discussion Papers, Centre for Economic Policy Research, number 21076, Jan.
• Wenhao Li & Sebastian Merkel, 2026, "Quantitative Easing and Government Debt Sustainability," NBER Working Papers, National Bureau of Economic Research, Inc, number 35421, Jul.
• De Jonghe, Olivier & Benkovskis, Konstantins & Bielskis, Karolis & Bonfim, Diana & Bottero, Margherita & Briglevics, Tamás & Cesnak, Martin & Dirma, Mantas & Emiris, Marina & Filep-Mostberger, Palma , 2025, "Household Borrowing and Monetary Policy Transmission: Post-Pandemic Insights from Nine European Credit Registers," CEPR Discussion Papers, Centre for Economic Policy Research, number 20928, Dec.
• Monnet, Eric, 2026, "Persistence in a Changing World. Gold Backing and Monetary Policy Autonomy Under Bretton Woods," CEPR Discussion Papers, Centre for Economic Policy Research, number 21215, Feb.
• Born, Benjamin & Lamersdorf, Nora & Schuster, Jana-Lynn & Steffen, Sascha, 2025, "From Tweets to Transactions: High-Frequency Inflation Expectations, Consumption, and Stock Returns," CEPR Discussion Papers, Centre for Economic Policy Research, number 20977, Dec.
• Roc Armenter, 2026, "The Dynamics of Ample Reserves," Working Papers, Federal Reserve Bank of Philadelphia, number 26-34, Jul, DOI: 10.21799/frbp.wp.2026.34.
• Roberto Gómez-Cram & Howard Kung & Hanno Lustig & David Zeke, 2026, "Government Funding Costs Under Financial Repression," NBER Working Papers, National Bureau of Economic Research, Inc, number 35391, Jun.
• Acharya, Sushant & Challe, Edouard & Corsetti, Giancarlo, 2026, "Monetary Stabilization of Export Shocks, Revisited," CEPR Discussion Papers, Centre for Economic Policy Research, number 21138, Feb.
• Cristi, José & Kalemli-Ozcan, Sebnem & Sans, Mariana & Unsal, Filiz, 2026, "Global Spillovers from Fed Hikes and a Strong Dollar: The Risk Channel," CEPR Discussion Papers, Centre for Economic Policy Research, number 21042, Jan.
• Wenhao Li & Sebastian Merkel, 2026, "Quantitative Easing and Government Debt Sustainability," Bristol Economics Discussion Papers, School of Economics, University of Bristol, UK, number 26/839, 01.
• Kalemli-Ozcan, Sebnem & Unsal, Filiz, 2026, "Global Transmission of Fed Hikes: The Role of Policy Credibility and Balance Sheets," CEPR Discussion Papers, Centre for Economic Policy Research, number 21041, Jan.
• Doerr, Sebastian & Drehmann, Mathias, 2026, "The Liquidity Coverage Ratio a Decade On: A Stocktake of the Literature," CEPR Discussion Papers, Centre for Economic Policy Research, number 21126, Feb.
• Genc, Egemen & Moench, Emanuel & Pazarbasi, Altan, 2025, "Reaching for Beta," CEPR Discussion Papers, Centre for Economic Policy Research, number 20812, Nov.
• Greg Kaplan & Ken Miyahara, 2026, "How Does Monetary and Fiscal Policy Affect the Economy in the Face of Large Shocks?," NBER Working Papers, National Bureau of Economic Research, Inc, number 35400, Jul.
• Hui He & Yao Zhao & Dayong Zhou, 2026, "Stablecoins and Macroeconomic Stability: A DSGE Investigation," IMF Working Papers, International Monetary Fund, number 2026/129, Jun.
• Bergant, Katharina & Mishra, Prachi & Rajan, Raghuram & Pinzon-Puerto, Freddy, 2026, "Cross-Border Spillovers: How U.S. Monetary Conditions Affect M&As Around the World," CEPR Discussion Papers, Centre for Economic Policy Research, number 21198, Feb.
• Guglielmo Maria Caporale & Luis Alberiko Gil-Alana & León Bertram von Ondarza de Miquel, 2026, "Anchored to the Floor: Persistence and Liquidity Regimes in the €STR – DFR Spread," CESifo Working Paper Series, CESifo, number 12782.
• Matthew B. Canzoneri & Behzad T. Diba & Luca Guerrieri & Arsenii Mishin, 2026, "A Static Capital Buffer is Hard To Beat," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2026-042, Jun, DOI: 10.17016/FEDS.2026.042.
• Cars Hommes & Isabelle Salle & Julien Pinter, 2026, "Fiscal Beliefs & Narratives," Tinbergen Institute Discussion Papers, Tinbergen Institute, number 26-031/VI, Jun.
• Ulrike Malmendier & Stefan Nagel, 2026, "Seemingly Anchored Inflation Expectations," NBER Working Papers, National Bureau of Economic Research, Inc, number 35395, Jul.
• Lawrence J. Christiano & Martin S. Eichenbaum & Benjamin K. Johannsen, 2026, "Slow Learning," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2026-039, Jun, DOI: 10.17016/FEDS.2026.039.
• Jansen, Kristy & Li, Wenhao & Schmid, Lukas, 2026, "Granular Treasury Demand with Arbitrageurs," CEPR Discussion Papers, Centre for Economic Policy Research, number 21079, Jan.
• Bilbiie, F. O. & Melitz, M. J., 2026, "Supply Shocks in a Heterogeneous-Firm New Keynesian Model: The Entry Multiplier," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge, number 2655, Jun.
• Olena Kostyshyna & Isabelle Salle & Hung Truong, 2026, "Heterogeneity in the Formation of Inflation Expectations: Evidence from Micro Data," Tinbergen Institute Discussion Papers, Tinbergen Institute, number 26-036/VI, Jun.
• Tobias Adrian & Domenico Giannone & Matteo Luciani & Mike West, 2026, "Risks and Uncertainty in Monetary Policy," Papers, arXiv.org, number 2606.16708, Jun.
• Antonova, Anastasiia & Matvieiev, Mykhailo & Poilly, Céline, 2026, "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," CEPR Discussion Papers, Centre for Economic Policy Research, number 21197, Feb.