Report NEP-MON-2026-02-02

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:

• Guender, Alfred V., , "Is There a Bank Lending Channel of Monetary Policy in New Zealand?," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263783, DOI: 10.22004/ag.econ.263783.
• Blejer, Mario I. & Leiderman, Leonardo, , "A Monetary Approach to the Crawling-Peg System: Theory and Evidence," Center for Latin American Development Studies Discussion Papers, Boston University, number 262900, DOI: 10.22004/ag.econ.262900.
• Harry Aytug, 2026, "United in Currency, Divided in Growth: Dynamic Effects of Euro Adoption," Papers, arXiv.org, number 2601.20169, Jan.
• Gabriel Montes-Rojas & Fernando Toledo & Nicolás Bertholet & Kevin Corfield, 2026, "Implicit Quantile Preferences of the Fed and the Taylor Rule," Working Papers, Red Nacional de Investigadores en Economía (RedNIE), number 384, Jan.
• Enrique G. Mendoza & Vincenzo Quadrini, 2026, "Capital Flows in a World Starved for Liquidity: Analysis and Policy Implications," NBER Working Papers, National Bureau of Economic Research, Inc, number 34688, Jan.
• Dimitris Korobilis & Leif Anders Thorsrud, 2025, "Evaluating Monetary Policy using Deviation Errors," Working Papers, Business School - Economics, University of Glasgow, number 2025_08, May.
• Blejer, Mario I., , "Strike Activity and Wage Determination Under Rapid Inflation: A Quantitiative Study of the Chilean Case," Center for Latin American Development Studies Discussion Papers, Boston University, number 262901, DOI: 10.22004/ag.econ.262901.
• Akinlade, Femi, 2025, "Literature Review on New Keynesian Phillips Curve (NKPC)," MPRA Paper, University Library of Munich, Germany, number 126878.
• Tara Iyer & Agustin Roitman & Mr. James P Walsh, 2026, "Services Inflation and the Exchange Rate in Türkiye," IMF Working Papers, International Monetary Fund, number 2026/006, Jan.
• Menon, Jayant, , "Exchange Rate Pass-through: Theory and Evidence," Center of Policy Studies (COPS) Impact Project Papers, Monash University Center of Policy Studies, number 266332, DOI: 10.22004/ag.econ.266332.
• Guender, Alfred V. & Tam, Julie, , "On the Performance of Nominal Income Targeting as a Strategy for Monetary Policy in a Small Open Economy," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263799, DOI: 10.22004/ag.econ.263799.
• Dimitris Korobilis, 2025, "Exploring Monetary Policy Shocks with Large-Scale Bayesian VARs," Working Papers, Business School - Economics, University of Glasgow, number 2025_09, May.
• Blejer, Mario I. & Leiderman, Leonardo, , "Inflation and Relative Price Variability in the Open Economy," Center for Latin American Development Studies Discussion Papers, Boston University, number 262905, DOI: 10.22004/ag.econ.262905.
• Neilon, Gabriella & Guest, Oliver & Steenkamp, Daan, 2025, "The market impact of inflation surprises in South Africa," MPRA Paper, University Library of Munich, Germany, number 127318, Dec.
• Guender, Alfred V., , "The New Classical vs the New Keynesian Debate on the Output-Inflation Tradeoff: Evidence from Four Industrialized Countries," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263750, DOI: 10.22004/ag.econ.263750.
• Danila Ovechkin, 2026, "Estimation and forecasting with a Nonlinear Phillips Curve based on heterogeneous sensitivity between economic activity and CPI components," Bank of Russia Working Paper Series, Bank of Russia, number wps161, Jan.
• Konstantin Styrin, 2024, "Monetary Policy Transmission in a Small Open Economy under Financial and Trade Restrictions," Bank of Russia Working Paper Series, Bank of Russia, number wps141, Dec.
• Ko Munakata, 2026, "A tractable menu cost model with an aggregate markup drift," BIS Working Papers, Bank for International Settlements, number 1327, Jan.
• Sergey Ivashchenko & Andrey Sinyakov, 2025, "Heterogeneous Inflation Expectations Across Economic Agents: Implications for Monetary Policy," Bank of Russia Working Paper Series, Bank of Russia, number wps152, Jul.
• Denis Krylov, 2024, "Russian food inflation and world food prices," Bank of Russia Working Paper Series, Bank of Russia, number wps126, Feb.
• Sergio Correia & Stephan Luck & Emil Verner, 2026, "Bank Runs With and Without Bank Failure," Papers, arXiv.org, number 2601.20285, Jan, revised Mar 2026.
• Tingyi Lin, 2026, "A Blessing in Disguise? DeFi Exploits and Short-Horizon Responses in U.S. Commercial Paper Spreads," Papers, arXiv.org, number 2601.08263, Jan, revised Mar 2026.
• Sinem Hacioglu Hoke & Daniel A. Ostry & Hélène Rey & Adrien Rousset Planat & Vania Stavrakeva & Jenny Tang, 2026, "Topography of the FX Derivatives Market: A View from London," NBER Working Papers, National Bureau of Economic Research, Inc, number 34588, Jan.
• Blejer, Mario I. & Fernandez, Roque B., , "The Effects of Unanticipated Money Growth on Prices, Output, and its Composition in a Fixed-Exchange-Rate Open Economy: The Mexican Experience," Center for Latin American Development Studies Discussion Papers, Boston University, number 262903, DOI: 10.22004/ag.econ.262903.
• Blejer, Mario I., , "Monetary Aspects of the Black-Market Exchange Rate Determination," Center for Latin American Development Studies Discussion Papers, Boston University, number 262897, DOI: 10.22004/ag.econ.262897.
• Sergey Ivashchenko, 2025, "Do We Need Тaylor-type Rules in DSGE?," Bank of Russia Working Paper Series, Bank of Russia, number wps144, Jan.
• Alina Evstigneeva & Yulia Shchadilova, 2024, "Broader Audience Transparency Index for Central Banks," Bank of Russia Working Paper Series, Bank of Russia, number wps136, Oct.
• Menon, Jayant, , "Flexible Exchange Rates and Traded Goods Prices: A Theory of the Short-Run," Center of Policy Studies (COPS) Impact Project Papers, Monash University Center of Policy Studies, number 266368, DOI: 10.22004/ag.econ.266368.
• Lin, Lin & Ortega, David L., 2025, "Food Price Inflation and Corporate Profitability," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO, Agricultural and Applied Economics Association, number 360618, DOI: 10.22004/ag.econ.360618.
• Dalziel, Paul, , "A Finance Theory of Monetary Policy in a World Without Money," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263800, DOI: 10.22004/ag.econ.263800.
• Jo, Jungkeon, 2025, "Impact of Monetary Policy Shocks on Agricultural Markets," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO, Agricultural and Applied Economics Association, number 360650, DOI: 10.22004/ag.econ.360650.
• Parot, Rodrigo & Rodriguez, Martha, , "Inflation in Peru: 1980-1984," Center for Latin American Development Studies Discussion Papers, Boston University, number 263694, DOI: 10.22004/ag.econ.263694.
• Hardhik Mohanty & Bhaskar Krishnamachari, 2026, "Who Restores the Peg? A Mean-Field Game Approach to Model Stablecoin Market Dynamics," Papers, arXiv.org, number 2601.18991, Jan.
• Nicolas Laurence, 2026, "Special Drawing Rights and Ecological Vulnerability: Monetary Hierarchy and the Translation of Values," Post-Print, HAL, number hal-05446729, Mar, DOI: 10.1016/j.esg.2025.100304.
• Cardoso, Eliana A., , "Indexation, Monetary Accommodation and Inflation in Brazil," Center for Latin American Development Studies Discussion Papers, Boston University, number 263623, DOI: 10.22004/ag.econ.263623.
• Alexandra Glazova & Maxim Nevalennyi & Andrey Sinyakov, 2025, "An Educational Model of a Small Open Economy for Monetary Policy Analysis (with examples from Bank of Russia’s practice)," Bank of Russia Working Paper Series, Bank of Russia, number wps154, Aug.
• Vadim Grishchenko & Maria Lymar & Andrei Sinyakov, 2025, "What information is important for households’ inflation expectations: evidence from a randomized controlled trial," Bank of Russia Working Paper Series, Bank of Russia, number wps148, Apr.
• María Alejandra Amado, 2026, "Macroprudential FX Regulations and Small Firms: Unintended Consequences for Credit Growth," Working Papers, Banco de España, number 2604, Jan, DOI: https://doi.org/10.53479/42365.
• Guender, Alfred V., , "The Output-Inflation Tradeoff in the United States: Evidence on the New Classical vs. New Keynesian Debate," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263747, DOI: 10.22004/ag.econ.263747.
• Leiderman, Leonardo, , "The Demand for Money Under Rational Expectations of Inflation: FIML Estimates for Brazil," Center for Latin American Development Studies Discussion Papers, Boston University, number 263593, DOI: 10.22004/ag.econ.263593.
• Hamoon Soleimani, 2025, "The Endogenous Constraint: Hysteresis, Stagflation, and the Structural Inhibition of Monetary Velocity in the Bitcoin Network (2016-2025)," Papers, arXiv.org, number 2512.07886, Nov.
• Danila Ovechkin, 2025, "Decomposition of the consumer price index into cyclical and acyclical components," Bank of Russia Working Paper Series, Bank of Russia, number wps149, Apr.
• Joe Cannataci & Benjamin Fehrensen & Mikolai Gutschow & Ozgur Kesim & Bernd Lucke, 2026, "Digital Euro: Frequently Asked Questions Revisited," Papers, arXiv.org, number 2601.18644, Jan.
• Cilengi Kandolo, Augustin, 2026, "Dualisme des régimes de change et contrainte de coordination des politiques économiques en République Démocratique du Congo
  [Dualism of exchange rate regimes and the constraint of economic policy coordination in the Democratic Republic of the Cong," MPRA Paper, University Library of Munich, Germany, number 127804, Jan, revised 14 Jan 2026.
• Peng, Rundong & Ortega, David L., 2025, "Food Price, Inflation Expectations, and Consumer Sentiment," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO, Agricultural and Applied Economics Association, number 360716, DOI: 10.22004/ag.econ.360716.
• Romain Baeriswyl & Kene Boun My & Camille Cornand, 2026, "Central Bank Digital Currency and Gresham's law: An experimental analysis," Working Papers, Swiss National Bank, number 2026-03.
• Steele, David & Wright, Julian, , "The Forward Premium Bias Under Different Monetary Policy Environments," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263781, DOI: 10.22004/ag.econ.263781.
• Carlos Cañizares Martínez & Adriana Lojschová & Alicia Aguilar, 2026, "Non-linear effects of monetary policy shocks on housing: Evidence from a CESEE country," Working Papers, Banco de España, number 2602, Jan, DOI: https://doi.org/10.53479/42325.
• Fernando Avalos & Boris Hofmann & José María Serena Garralda, 2026, "Monetary policy and private equity acquisitions: tracing the links," BIS Working Papers, Bank for International Settlements, number 1326, Jan.
• Tiago Neves Sequeira & Pedro Lima & Joshua Duarte, 2025, "Inflation, the Skill Premium and the labor share: An empirical and theoretical analysis," CeBER Working Papers, Centre for Business and Economics Research (CeBER), University of Coimbra, number 2025-04, Dec.
• Ryuichiro Hirano & Yutaro Takano & Kosuke Takatomi, 2026, "What Drives Trend Inflation in Japan? : A Trend-Cycle BVAR Decomposition Approach," Bank of Japan Working Paper Series, Bank of Japan, number 26-E-1, Jan.
• Wright, Julian, , "Credit Frictions, Debt Choice and the Transmission of Monetary Policy," Department of Economics Discussion Papers, University of Canterbury - New Zealand, number 263780, DOI: 10.22004/ag.econ.263780.
• Hamoon Soleimani, 2025, "An Examination of Bitcoin's Structural Shortcomings as Money: A Synthesis of Economic and Technical Critiques," Papers, arXiv.org, number 2512.07840, Nov.
• Menon, Jayant, , "Exchange Rate Pass-Through for Australian Manufactured Imports: Estimates from the Johansen Maximum-Likelihood Procedure," Center of Policy Studies (COPS) Impact Project Papers, Monash University Center of Policy Studies, number 266333, DOI: 10.22004/ag.econ.266333.
• Powell, Alan A., , "From Dornbusch to Murphy: STYLIZED MONETARY DYNAMICS OF A CONTEMPORARY MACROECONOMETRIC MODEL," Center of Policy Studies (COPS) Impact Project Papers, Monash University Center of Policy Studies, number 266341, DOI: 10.22004/ag.econ.266341.
• Emilio Barucci & Andrea Gurgone & Giulia Iori & Michele Azzone, 2026, "Central Bank Digital Currency, Flight-to-Quality, and Bank-Runs in an Agent-Based Model," Working Papers, Department of Economics, University of Venice "Ca' Foscari", number 2026: 01.
• Degiannakis, Stavros & Delis, Panagiotis & Filis, George, 2025, "Forecasting household-level inflation in Greece," MPRA Paper, University Library of Munich, Germany, number 127228, Oct.
• Fernando Ávalos & Boris Hofmann & Jose M. Serena, 2026, "Monetary policy and private equity acquisitions: tracing the links," Working Papers, Banco de España, number 2605, Jan, DOI: https://doi.org/10.53479/42385.
• Martin Hodula & Simona Malovana, 2025, "When Foreign Rates Matter More: Domestic Investor Responses in a Small Open Economy," Working Papers, Czech National Bank, Research and Statistics Department, number 2025/11, Aug.
• Gabriela Araujo & David Rivero Leiva & Hugo Rodríguez Mendizábal, 2026, "Endogenous Bank Risks and the Lending Channel of Monetary Policy," Working Papers, Barcelona School of Economics, number 1549, Jan.

Report NEP-MON-2026-02-02

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: