Report NEP-MON-2025-07-21

This is the archive for NEP-MON, a report on new working papers in the area of Monetary Economics. Bernd Hayo issued this report. It is usually issued weekly.

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Other reports in NEP-MON

The following items were announced in this report:

• Hoffmann, Mathias & Mönch, Emanuel & Pavlova, Lora & Schultefrankenfeld, Guido, 2025, "A KISS for central bank communication in times of high inflation," Discussion Papers, Deutsche Bundesbank, number 12/2025.
• Ginters Buss & Guido Traficante, 2025, "The Return of Inflation: Look-Through Policy Under Incomplete Information," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2025-40, Jul.
• Francesca Caselli & Allan Dizioli, 2025, "Missing Imports in the Euro Area: Domestic Monetary Policy, Cross-Border Synchronization, and Demand Composition," IMF Working Papers, International Monetary Fund, number 2025/140, Jul.
• Schepens, Glenn & Core, Fabrizio & De Marco, Filippo & Eisert, Tim, 2025, "Inflation and floating-rate loans: evidence from the euro-area," Working Paper Series, European Central Bank, number 3064, Jun.
• Ozili, Peterson K, 2025, "How Politics Hinder Central Bank Digital Currency (CBDC) Development and What to Do about It," MPRA Paper, University Library of Munich, Germany, number 125034.
• Kristian S. Blickle & Jian Li & Xu Lu & Yiming Ma, 2025, "The Rise in Deposit Flightiness and Its Implications for Financial Stability," Liberty Street Economics, Federal Reserve Bank of New York, number 20250710, Jul.
• Karadi, Peter & Nakov, Anton & Nuño, Galo & Pasten, Ernesto & Thaler, Dominik, 2025, "Strike while the iron is hot – optimal monetary policy under state-dependent pricing," Working Paper Series, European Central Bank, number 3068, Jul.
• Kanelis, Dimitrios & Kranzmann, Lars H. & Siklos, Pierre L., 2025, "The financial instability - Monetary policy nexus: Evidence from the FOMC minutes," Discussion Papers, Deutsche Bundesbank, number 13/2025.
• Aaron Hedlund & Kieran Larkin & Kurt Mitman & Serdar Ozkan, 2025, "Mortgage Market Structure and the Transmission of Monetary Policy During the Great Inflation," Working Papers, Federal Reserve Bank of St. Louis, number 2025-016, Jun, DOI: 10.20955/wp.2025.016.
• Jonathan Benchimol & Sophia Kazinnik & Yossi Saadon, 2025, "Federal Reserve Communication and the COVID-19 Pandemic," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2025-38, Jul.
• J. Atsu Amegashie, 2025, "The CPI, Inflation, and the Cost of Living: A Proposal," CESifo Working Paper Series, CESifo, number 11973.
• Hermes, Felix & Schmeling, Maik & Schrimpf, Andreas, 2025, "The international dimension of repo: five new facts," Working Paper Series, European Central Bank, number 3065, Jun.
• Karim Badr, 2025, "Understanding Inflation Dynamics in Afghanistan," IMF Working Papers, International Monetary Fund, number 2025/137, Jul.
• Busato, Francesco & Cisco, Gianluigi & De Simone, Marco & Marzano, Elisabetta, 2025, "Optimal Monetary Policy and Weather Shocks in Small Open Economies," MPRA Paper, University Library of Munich, Germany, number 125175, Mar, revised 19 Jun 2025.
• Pascal Paul & Mauricio Ulate & Jing Cynthia Wu, 2025, "A Macroeconomic Model of Central Bank Digital Currency," NBER Working Papers, National Bureau of Economic Research, Inc, number 33968, Jun.
• Jonathan Alexander Muñoz-Martínez, 2025, "A Level-Dependence Approach for Assessing De-Anchoring of Inflation Expectations: Evidence from Colombia," Borradores de Economia, Banco de la Republica de Colombia, number 1322, Jul, DOI: 10.32468/be.1322.
• Basten, Christoph & Juelsrud, Ragnar, 2025, "Monetary policy transmission through cross-selling banks," Working Paper Series, European Central Bank, number 3072, Jul.
• Shantanu Banerjee & Paul Cordova & Michiel De Pooter & Olesya V. Grishchenko, 2025, "Gauging the Sentiment of Federal Open Market Committee Communications through the Eyes of the Financial Press," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2025-048, Jul, DOI: 10.17016/FEDS.2025.048.
• Jonathan J. Adams & Mr. Philip Barrett, 2025, "What Are Empirical Monetary Policy Shocks? Estimating the Term Structure of Policy News," IMF Working Papers, International Monetary Fund, number 2025/128, Jun.
• Kothe, Rafael, 2025, "Connecting the dots: How social networks shape expectations through economic narratives," BERG Working Paper Series, Bamberg University, Bamberg Economic Research Group, number 204.
• John Aguirre & Alan Ledesma & Fernando Perez & Youel Rojas, 2025, "Economic activity, inflation, and monetary policy after extreme weather events: ENSO and its economic impact on the Peruvian economy," BIS Working Papers, Bank for International Settlements, number 1276, Jul.
• Kanelis, Dimitrios & Siklos, Pierre L., 2025, "Emotion in euro area monetary policy communication and bond yields: The Draghi era," Discussion Papers, Deutsche Bundesbank, number 16/2025.
• Aydin Yakut, Dilan, 2025, "Beyond Aggregates: A Dual Lens on Eurozone Trend Inflation," Research Technical Papers, Central Bank of Ireland, number 3/RT/25, May.
• Felipe Benguria & Dennis Novy, 2025, "How to Grow an Invoicing Currency: Micro Evidence from Argentina," CESifo Working Paper Series, CESifo, number 11964.
• Schulz-Gebhard, Jan & Ipsen, Leonhard, 2025, "Poor households and the weight of inflation," BERG Working Paper Series, Bamberg University, Bamberg Economic Research Group, number 205, DOI: 10.20378/irb-108327.
• Laurence M. Ball & Daniel Leigh & Prachi Mishra, 2025, "The Rise and Retreat of US Inflation: An Update," NBER Working Papers, National Bureau of Economic Research, Inc, number 33806, May.
• Ricardo J. Caballero & Tomás E. Caravello & Alp Simsek, 2025, "FCI-star," NBER Working Papers, National Bureau of Economic Research, Inc, number 33952, Jun.
• Robert C. M. Beyer & Mr. Luis Brandão-Marques, 2025, "Real Equilibrium Interest Rates in the Euro Area," IMF Working Papers, International Monetary Fund, number 2025/123, Jun.
• José Vicente Romero & Sara Naranjo-Saldarriaga & Jonathan Alexander Muñoz-Martínez, 2025, "Adverse Weather-Induced Inflation: Some Implications for Monetary Policy in a Small Open Economy," Borradores de Economia, Banco de la Republica de Colombia, number 1319, Jul, DOI: 10.32468/be.1319.
• Gardner, Leigh A., 2025, "Trade and money in British West Africa, 1912–1970: evidence from seasonal cycles," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 128610, Jun.
• Item repec:ehl:lserod:128607 is not listed on IDEAS anymore

• Laron Alleyne & Patrick Blagrave, 2025, "Global Commodity Inflation Pass-through: Vulnerability of Small Island Developing States," IMF Working Papers, International Monetary Fund, number 2025/138, Jul.
• d'Avernas, Adrien & Vandeweyer, Quentin & Petersen, Damon, 2025, "The central bank’s balance sheet and treasury market disruptions," Working Paper Series, European Central Bank, number 3066, Jul.
• Savon Zakaria, 2025, "Islamic banks and the transmission of monetary policy: empirical evidence with moderating variables
  [Les banques islamiques et la transmission de la politique monétaire : évidence empirique avec des variables modératrices]," Post-Print, HAL, number hal-05124702, Jun.
• Iñaki Aldasoro & Matteo Aquilina & Ulf Lewrick & Sang Hyuk Lim, 2025, "Stablecoin growth - policy challenges and approaches," BIS Bulletins, Bank for International Settlements, number 108, Jul.
• Marco Reuter, 2025, "Decrypting Crypto: How to Estimate International Stablecoin Flows," IMF Working Papers, International Monetary Fund, number 2025/141, Jul.
• Abdelkader Aguir, 2025, "Covid-19 and inflation targeting in the Alliance of Sahel States: ARDL approach," Post-Print, HAL, number hal-05050170, Mar.
• Sophia Kazinnik & Erik Brynjolfsson, 2025, "AI and the Fed," NBER Working Papers, National Bureau of Economic Research, Inc, number 33998, Jul.
• Luis Fernando Melo-Velandia & José Vicente Romero & Diego Niño-Garavito, 2025, "Analyzing Exchange Rate Dynamics within the Global Financial Cycle: A DCC-Copula approach," Borradores de Economia, Banco de la Republica de Colombia, number 1320, Jul, DOI: 10.32468/be.1320.
• Bettendorf, Timo, 2025, "Disentangling supply-side and demand-side effects of uncertainty shocks on U.S. financial markets: Identification using prices of gold and oil," Discussion Papers, Deutsche Bundesbank, number 10/2025.
• Abdelkader Aguir, 2025, "Post-COVID Monetary Policy Challenges in Emerging Economies: Revisiting the Effectiveness of Inflation Targeting
  [Les défis de la politique monétaire post-COVID dans les économies émergentes : revisiter l’efficacité du ciblage de l’inflation]," Post-Print, HAL, number hal-05136089, DOI: 10.57239/pjlss-2025-23.1.00705.
• Mark A. Carlson & Zack Saravay & Mary Tian, 2025, "Fed Repo Operations and Dealer Intermediation," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2025-052, Jul, DOI: 10.17016/FEDS.2025.052.
• Winder, Philipp & Hildebrand, Christian, 2025, "Decentralized Distrust: How Cryptocurrency Payments Undermine Firm Trust," OSF Preprints, Center for Open Science, number up6k3_v1, Jun, DOI: 10.31219/osf.io/up6k3_v1.
• Mai Dao & Brandon Joel Tan & Jing Zhou, 2025, "Repo Market Volatility and the U.S. Debt Ceiling," IMF Working Papers, International Monetary Fund, number 2025/127, Jun.
• Ricardo Duque Gabriel & Julianna Sterling, 2025, "Shifting Dynamics in Bank Funding of NBFIs: The Rise of Credit Lines," FEDS Notes, Board of Governors of the Federal Reserve System (U.S.), number 2025-07-14, Jul, DOI: 10.17016/2380-7172.3822.

Report NEP-MON-2025-07-21

This is the archive for NEP-MON, a report on new working papers in the area of Monetary Economics. Bernd Hayo issued this report. It is usually issued weekly.

Subscribe to this report: email, RSS, or Mastodon, or Bluesky.

Other reports in NEP-MON

The following items were announced in this report: