Report NEP-MON-2025-11-17

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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The following items were announced in this report:

• Alfred V Guender & Jacob Greig & Kuntal Das & Jakub Pesek, 2025, "The Global Reach of US Monetary Policy: Suggestive Evidence from the Global Financial Crisis and the COVID-19 Pandemic," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2025-60, Nov.
• Ferrando, Annalisa & Lamboglia, Sara & Offner, Eric, 2025, "Monetary policy transmission to investment: evidence from a survey on enterprise finance," Working Paper Series, European Central Bank, number 3150, Nov.
• Masao Fukui & Niels Joachim Gormsen & Kilian Huber, 2025, "Sticky Discount Rates," IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan, number 25-E-16, Oct.
• Natalie Kessler & Poramapa Poonpakdee, 2025, "The Role of Ambiguity in the Monetary Policy Transmissions: Evidence from the European Repo Market," Working Papers, DNB, number 847, Nov.
• Mrs. Jana Bricco & Mr. Mario Mansilla & Mrs. Delia Velculescu & Mr. Philippe Wingender, 2025, "Macroeconomic Effects of Lowering South Africa’s Inflation Target," IMF Working Papers, International Monetary Fund, number 2025/237, Nov.
• Bobasu, Alina & Ciccarelli, Matteo & Notarpietro, Alessandro & Ambrocio, Gene & Auer, Simone & Bonfim, Diana & Bottero, Margherita & Brázdik, František & Buss, Ginters & Byrne, David & Casalis, André , 2025, "Monetary policy transmission: a reference guide through ESCB models and empirical benchmarks," Occasional Paper Series, European Central Bank, number 377, Nov.
• Matthew Elias & Christian Gillitzer & Greg Kaplan & Gianni La Cava & Nalini V. Prasad, 2025, "The Mortgage Debt Channel of Monetary Policy when Mortgages are Liquid," NBER Working Papers, National Bureau of Economic Research, Inc, number 34461, Nov.
• Boliang Lin & Ruixi Lin, 2025, "A parallel monetary system based on the redeemable self-decaying money -- The ultimate hedge and safe haven of private wealth in the rising wave of over issuance of fiat and token money/stablecoin," Papers, arXiv.org, number 2511.00365, Oct.
• Takeki Sunakawa, 2025, "Fiscal Inflation in Japan: The Role of Unfunded Fiscal Shocks," IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan, number 25-E-14, Oct.
• Francisco Arizala & Santiago Bazdresch & Tomohide Mineyama & Shiqing Hua, 2025, "The Impact of Fiscal Policy on Inflation Expectations," IMF Working Papers, International Monetary Fund, number 2025/231, Nov.
• Assenza, Tiziana & Huber, Stefanie & Mogilevskaja, Anna & Schmidt, Tobias, 2025, "When Wording Changes What We Find: The Impact of Inflation Expectations on Spending," TSE Working Papers, Toulouse School of Economics (TSE), number 25-1686, Nov.
• Jon Frost & Jean-Charles Rochet & Hyun Song Shin & Marianne Verdier, 2025, "Competing digital monies," BIS Working Papers, Bank for International Settlements, number 1301, Nov.
• Diego Comin & Robert C. Johnson & Callum Jones, 2025, "Supply Chain Constraints and Inflation," IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan, number 25-E-15, Oct.
• Alexopoulou, Ioana & Brancatelli, Calogero & Fudulache, Adina-Elena & Gomes, Diana & Gybas, Daniel & Sauer, Stephan, 2025, "Collateral easing in non-standard times: a review of the role of Additional Credit Claims in the Eurosystem collateral framework," Occasional Paper Series, European Central Bank, number 378, Nov.
• Campos, Maria Manuel & Gomes, Sandra & Jacquinot, Pascal & Cardoso-Costa, José Miguel, 2025, "Monetary and fiscal policy interactions in the aftermath of an inflationary shock," Working Paper Series, European Central Bank, number 3145, Nov.
• Mr. Yan Carriere-Swallow & Gene Kindberg-Hanlon & Danila Smirnov, 2025, "Macroeconomic Effects and Spillovers from Bank of Japan Unconventional Monetary Policy," IMF Working Papers, International Monetary Fund, number 2025/227, Nov.
• Andreas Dibiasi & Heiner Mikosch & Samad Sarferaz & Armin Steinbach, 2025, "Fiscal Responses to Monetary Policy: Insights From a Survey of Government Officials," CESifo Working Paper Series, CESifo, number 12247.
• James Morley & Jieying Zhang, 2025, "Is Inflation Driven by Aggregate or Sectoral Output Gaps?," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2025-58, Nov, revised Apr 2026.
• Leonardo N. Ferreira & Caio Garzeri & Diogo Guillen & Antônio Lima & Victor Monteiro, 2025, "The Not So Quiet Revolution: signal and noise in central bank communication," Working Papers Series, Central Bank of Brazil, Research Department, number 635, Nov.
• Dimitris Georgarakos & Yuriy Gorodnichenko & Olivier Coibion & Geoff Kenny, 2025, "The Causal Effects of Inflation Uncertainty on Households' Beliefs and Actions," IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan, number 25-E-12, Sep.
• Ayoki, Milton, 2025, "Between Easing and Anchoring: How the Fed Navigated the Final Mile of Disinflation in July 2025," MPRA Paper, University Library of Munich, Germany, number 126548, Aug.
• Mai C. Dao & Pierre-Olivier Gourinchas & Oleg Itskhoki, 2025, "Breaking Parity: Equilibrium Exchange Rates and Currency Premia," NBER Working Papers, National Bureau of Economic Research, Inc, number 34443, Nov.
• Efrem Castelnuovo & Giovanni Pellegrino & Laust L. Særkjær, 2025, "Monetary Policy Shocks and Narrative Restrictions: Rules Matter," CESifo Working Paper Series, CESifo, number 12246.
• Stephen Murchison, 2025, "Non-homothetic Preferences and the Demand Channel of Inflation," Staff Working Papers, Bank of Canada, number 25-30, Nov, DOI: 10.34989/swp-2025-30.
• Lampe, Max & Adalid, Ramón, 2025, "A machine learning approach to real time identification of turning points in monetary aggregates M1 and M3," Working Paper Series, European Central Bank, number 3148, Nov.
• Junming Chen, 2025, "Monetary Policy, Financing Constraints, and Rational Asset Price Bubbles," Discussion Papers, Department of Economics, University of York, number 25/04, Nov.
• Juselius, Mikael, 2025, "Navigating the sea of natural real interest rate estimates," BoF Economics Review, Bank of Finland, number 3/2025.
• J. Scott Davis & Kevin X. D. Huang & Zheng Liu & Mark M. Spiegel, 2025, "Optimal Foreign Reserve Intervention and Financial Development," Working Papers, Federal Reserve Bank of Dallas, number 2538, Nov, DOI: 10.24149/wp2538.
• Janine Aron & Greg Farrell & John Muellbauer, 2025, "The Governance of Macroprudential Policy," CSAE Working Paper Series, Centre for the Study of African Economies, University of Oxford, number 2025-12.
• Hodula, Martin & Mimun, Anisa Tiza, 2025, "Investment funds and the monetary-macroprudential policy interplay," Working Paper Series, European Central Bank, number 3151, Nov.
• De Jonghe, Olivier & Benkovskis, Konstantins & Bielskis, Karolis & Bonfim, Diana & Bottero, Margherita & Briglevics, Tamás & Cesnak, Martin & Dirma, Mantas & Emiris, Marina & Filep-Mosberger, Pálma & , 2025, "Household borrowing and monetary policy transmission: post-pandemic insights from nine European credit registers," Working Paper Series, European Central Bank, number 3146, Nov.
• Karen Davtyan & Adel R. Kalozdi, 2025, "The Power of Words: Central Bank Green Communication and Performance of Energy Sectors," Working Papers, Department of Applied Economics at Universitat Autonoma of Barcelona, number wpdea2515, Nov.
• Kornher, L., & Balezentis, T. & Santeramo, F.G., , "EU Food price inflation amid global market turbulences," Agricultural Economics Society (AES) 98th Annual Conference, The University of Edinburgh, Edinburgh, UK, March 18-20, 2024, Agricultural Economics Society (AES), number 355336, DOI: 10.22004/ag.econ.355336.
• Flôres Junior, Renato Galvão, 2025, "Outlining a monetary system in turbulent times," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), number 849, Nov.
• Abango, Mohammed A & Yusif, Hadrat M. & Asiama, Johnson Pandit & Mawuli, Francis Abude, 2025, "The role of inflation targeting policy in the McKinnon-Shaw financial liberalization hypothesis in Ghana: Evidence from linear and non-linear autoregressive distributed lag approaches," SocArXiv, Center for Open Science, number k25qz_v1, Oct, DOI: 10.31219/osf.io/k25qz_v1.

Report NEP-MON-2025-11-17

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: