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 12/2025, Deutsche Bundesbank.
• Ginters Buss & Guido Traficante, 2025. "The Return of Inflation: Look-Through Policy Under Incomplete Information," CAMA Working Papers 2025-40, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Francesca Caselli & Allan Dizioli, 2025. "Missing Imports in the Euro Area: Domestic Monetary Policy, Cross-Border Synchronization, and Demand Composition," IMF Working Papers 2025/140, International Monetary Fund.
• Schepens, Glenn & Core, Fabrizio & De Marco, Filippo & Eisert, Tim, 2025. "Inflation and floating-rate loans: evidence from the euro-area," Working Paper Series 3064, European Central Bank.
• Ozili, Peterson K, 2025. "How Politics Hinder Central Bank Digital Currency (CBDC) Development and What to Do about It," MPRA Paper 125034, University Library of Munich, Germany.
• Kristian S. Blickle & Jian Li & Xu Lu & Yiming Ma, 2025. "The Rise in Deposit Flightiness and Its Implications for Financial Stability," Liberty Street Economics 20250710, Federal Reserve Bank of New York.
• 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 3068, European Central Bank.
• Kanelis, Dimitrios & Kranzmann, Lars H. & Siklos, Pierre L., 2025. "The financial instability - Monetary policy nexus: Evidence from the FOMC minutes," Discussion Papers 13/2025, Deutsche Bundesbank.
• Aaron Hedlund & Kieran Larkin & Kurt Mitman & Serdar Ozkan, 2025. "Mortgage Market Structure and the Transmission of Monetary Policy During the Great Inflation," Working Papers 2025-016, Federal Reserve Bank of St. Louis.
• Jonathan Benchimol & Sophia Kazinnik & Yossi Saadon, 2025. "Federal Reserve Communication and the COVID-19 Pandemic," CAMA Working Papers 2025-38, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• J. Atsu Amegashie, 2025. "The CPI, Inflation, and the Cost of Living: A Proposal," CESifo Working Paper Series 11973, CESifo.
• Hermes, Felix & Schmeling, Maik & Schrimpf, Andreas, 2025. "The international dimension of repo: five new facts," Working Paper Series 3065, European Central Bank.
• Karim Badr, 2025. "Understanding Inflation Dynamics in Afghanistan," IMF Working Papers 2025/137, International Monetary Fund.
• Busato, Francesco & Cisco, Gianluigi & De Simone, Marco & Marzano, Elisabetta, 2025. "Optimal Monetary Policy and Weather Shocks in Small Open Economies," MPRA Paper 125175, University Library of Munich, Germany, revised 19 Jun 2025.
• Pascal Paul & Mauricio Ulate & Jing Cynthia Wu, 2025. "A Macroeconomic Model of Central Bank Digital Currency," NBER Working Papers 33968, National Bureau of Economic Research, Inc.
• Jonathan Alexander Muñoz-Martínez, 2025. "A Level-Dependence Approach for Assessing De-Anchoring of Inflation Expectations: Evidence from Colombia," Borradores de Economia 1322, Banco de la Republica de Colombia.
• Basten, Christoph & Juelsrud, Ragnar, 2025. "Monetary policy transmission through cross-selling banks," Working Paper Series 3072, European Central Bank.
• 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 2025-048, Board of Governors of the Federal Reserve System (U.S.).
• Jonathan J. Adams & Mr. Philip Barrett, 2025. "What Are Empirical Monetary Policy Shocks? Estimating the Term Structure of Policy News," IMF Working Papers 2025/128, International Monetary Fund.
• Kothe, Rafael, 2025. "Connecting the dots: How social networks shape expectations through economic narratives," BERG Working Paper Series 204, Bamberg University, Bamberg Economic Research Group.
• 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 1276, Bank for International Settlements.
• Kanelis, Dimitrios & Siklos, Pierre L., 2025. "Emotion in euro area monetary policy communication and bond yields: The Draghi era," Discussion Papers 16/2025, Deutsche Bundesbank.
• Aydin Yakut, Dilan, 2025. "Beyond Aggregates: A Dual Lens on Eurozone Trend Inflation," Research Technical Papers 3/RT/25, Central Bank of Ireland.
• Felipe Benguria & Dennis Novy, 2025. "How to Grow an Invoicing Currency: Micro Evidence from Argentina," CESifo Working Paper Series 11964, CESifo.
• Schulz-Gebhard, Jan & Ipsen, Leonhard, 2025. "Poor households and the weight of inflation," BERG Working Paper Series 205, Bamberg University, Bamberg Economic Research Group.
• Laurence M. Ball & Daniel Leigh & Prachi Mishra, 2025. "The Rise and Retreat of US Inflation: An Update," NBER Working Papers 33806, National Bureau of Economic Research, Inc.
• Ricardo J. Caballero & Tomás E. Caravello & Alp Simsek, 2025. "FCI-star," NBER Working Papers 33952, National Bureau of Economic Research, Inc.
• Robert C. M. Beyer & Mr. Luis Brandão-Marques, 2025. "Real Equilibrium Interest Rates in the Euro Area," IMF Working Papers 2025/123, International Monetary Fund.
• 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 1319, Banco de la Republica de Colombia.
• Gardner, Leigh A., 2025. "Trade and money in British West Africa, 1912–1970: evidence from seasonal cycles," LSE Research Online Documents on Economics 128610, London School of Economics and Political Science, LSE Library.
• Irigoin, Alejandra, 2025. "Managing exchange risk: foreign monies and private trade finance in pre-modern long-distance trade (or why did bills of exchange not circulate beyond Europe?)," LSE Research Online Documents on Economics 128607, London School of Economics and Political Science, LSE Library.
• Laron Alleyne & Patrick Blagrave, 2025. "Global Commodity Inflation Pass-through: Vulnerability of Small Island Developing States," IMF Working Papers 2025/138, International Monetary Fund.
• d'Avernas, Adrien & Vandeweyer, Quentin & Petersen, Damon, 2025. "The central bank’s balance sheet and treasury market disruptions," Working Paper Series 3066, European Central Bank.
• 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 de," Post-Print hal-05124702, HAL.
• Iñaki Aldasoro & Matteo Aquilina & Ulf Lewrick & Sang Hyuk Lim, 2025. "Stablecoin growth - policy challenges and approaches," BIS Bulletins 108, Bank for International Settlements.
• Marco Reuter, 2025. "Decrypting Crypto: How to Estimate International Stablecoin Flows," IMF Working Papers 2025/141, International Monetary Fund.
• Abdelkader Aguir, 2025. "Covid-19 and inflation targeting in the Alliance of Sahel States: ARDL approach," Post-Print hal-05050170, HAL.
• Sophia Kazinnik & Erik Brynjolfsson, 2025. "AI and the Fed," NBER Working Papers 33998, National Bureau of Economic Research, Inc.
• 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 1320, Banco de la Republica de Colombia.
• 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 10/2025, Deutsche Bundesbank.
• 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 : revi," Post-Print hal-05136089, HAL.
• Mark A. Carlson & Zack Saravay & Mary Tian, 2025. "Fed Repo Operations and Dealer Intermediation," Finance and Economics Discussion Series 2025-052, Board of Governors of the Federal Reserve System (U.S.).
• Winder, Philipp & Hildebrand, Christian, 2025. "Decentralized Distrust: How Cryptocurrency Payments Undermine Firm Trust," OSF Preprints up6k3_v1, Center for Open Science.
• Mai Dao & Brandon Tan & Jing Zhou, 2025. "Repo Market Volatility and the U.S. Debt Ceiling," IMF Working Papers 2025/127, International Monetary Fund.
• Ricardo Duque Gabriel & Julianna Sterling, 2025. "Shifting Dynamics in Bank Funding of NBFIs: The Rise of Credit Lines," FEDS Notes 2025-07-14, Board of Governors of the Federal Reserve System (U.S.).