Report NEP-MON-2026-08-24

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:

• Daudignon, Sandra & Tristani, Oreste, 2024, "Monetary Policy and the Drifting Natural Rate of Interest," CEPR Discussion Papers, Centre for Economic Policy Research, number 19528, Sep.
• Kira Kang & Rodrigo Sekkel & Temel Taskin & Jing Yang, 2026, "Supply and Demand-Driven inflation: Decomposition and policy implications," Staff Analytical Papers, Bank of Canada, number 2026-33, Jul, DOI: 10.34989/sap-2026-33.
• Wieland, Volker & Tatar, Balint, 2024, "Policy Rules and the Inflation Surge: The Case of the ECB," CEPR Discussion Papers, Centre for Economic Policy Research, number 19521, Sep.
• Bodnár, Katalin & Fagandini, Bruno & Healy, Peter & Höynck, Christian & Rousseau, Flavie, 2026, "Domestic and cyclical inflation in the euro area," Statistics Paper Series, European Central Bank, number 54, Aug.
• Karadi, Peter & Nakov, Anton & Nuño, Galo & Pasten, Ernesto & Thaler, Dominik, 2024, "Strike while the Iron is Hot: Optimal Monetary Policy under State-Dependent Pricing," CEPR Discussion Papers, Centre for Economic Policy Research, number 19339, Aug.
• Naveed Javed & Nicolas Groshenny, 2026, "UIP Holds Conditional on Monetary Policy Shocks," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2026-68, Aug.
• Spanò, Guido & Figueres, Juan Manuel, 2026, "Banks’ funding structures and pass-through in the euro area," Working Paper Series, European Central Bank, number 3274, Aug.
• de Souza, Tomás Carrera & Oosterhek, Koen & Weber, Soizic, 2026, "The use of the Eurosystem’s monetary policy instruments and its monetary policy implementation framework in 2024 and 2025," Occasional Paper Series, European Central Bank, number 398, Aug.
• Edoardo Briganti & Wei Dong & Olena Kostyshyna & Soyoung Lee & Florent Samson & Rodrigo Sekkel, 2026, "Recent Evidence on the Resiliency of Flexible Inflation Targeting," Staff Analytical Papers, Bank of Canada, number 2026-23, Jun, DOI: 10.34989/sap-2026-23.
• Bonaparte, Yosef & Korniotis, George & Kumar, Alok & Vosse, Melina, 2024, "Inflation, Monetary Policy, and Portfolio Decisions of U.S. Households," CEPR Discussion Papers, Centre for Economic Policy Research, number 19511, Sep.
• Selva Demiralp & Orkun Saka & Michael Weber, 2026, "Polarized Media and Inflation Expectations," CESifo Working Paper Series, CESifo, number 12854.
• Berg, Tobias & Keil, Jan & Martini, Felix & Puri, Manju, 2024, "CBDCs, Payment Firms, and Geopolitics," CEPR Discussion Papers, Centre for Economic Policy Research, number 19367, Aug.
• Gödl, Maximilian & Gödl-Hanisch, Isabel, 2024, "Wage Setting in Times of High and Low Inflation," CEPR Discussion Papers, Centre for Economic Policy Research, number 19403, Aug.
• Carlos Giraldo & Iader Giraldo-Salazar & Jose E. Gomez-Gonzalez & Jorge M Uribe, 2026, "A Cross-Country Exploration of the Deposit Channel of Monetary Policy in Emerging Market Economies," Documentos de trabajo, FLAR, number 023352, Jul.
• Edward Booth & Edouard Djeutem & Oleksiy Kryvtsov & Fanny McKellips & Yang Zhang, 2026, "Monetary Policy in a Volatile World: ToTEM Simulations," Staff Analytical Papers, Bank of Canada, number 2026-27, Jun, DOI: 10.34989/sap-2026-27.
• Anja Bauer & Katharina Gangl, 2026, "Reversing Effects Between Inflation Expectations and Consumer Intentions. Two decades of survey evidence from Germany," NIM Report, Nürnberg Institut für Marktentscheidungen e.V., number report-002, Apr.
• Matteo Cacciatore & Daniela Hauser & Yuko Imura, 2026, "Deglobalization and Trade Fragmentation: Implications for the Inflation-Output Trade-Off," Staff Analytical Papers, Bank of Canada, number 2026-24, Jun, DOI: 10.34989/sap-2026-24.
• Leonard, Clara & Braun, Ben & Klooster, Jens van 't & Monnet, Eric, 2026, "Inflation, supply shocks and the case for a cautious and differentiated monetary policy response," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 140409, Jun.
• Kenneth Clements & Yihui Lan, 2026, "Three facts about global inflation," Economics Discussion / Working Papers, The University of Western Australia, Department of Economics, number 26-04.
• Cieslak, Anna & McMahon, Michael & Pang, Hao, 2024, "Did I make myself clear? The Fed and the market under the 2020 monetary policy framework," CEPR Discussion Papers, Centre for Economic Policy Research, number 19360, Aug.
• Marco Gallegati & Solomos Solomou & Kun Tian, 2026, "The Inflationary Effects of the El Niño-Southern Oscillation," CESifo Working Paper Series, CESifo, number 12896.
• Sofia Priazhkina, 2026, "The Impact of Potential Retail Central Bank Digital Currency on the Canadian Financial System During a Severe Recession," Staff Analytical Papers, Bank of Canada, number 2026-30, Jun, DOI: 10.34989/sap-2026-30.
• Casado, Alejandro & Martinez-Miera, David, 2024, "Local Lending Specialization and Monetary Policy," CEPR Discussion Papers, Centre for Economic Policy Research, number 19473, Sep.
• Ryan Niladri Banerjee & Fiorella De Fiore & Marco Jacopo Lombardi & Giovanni Lombardo, 2026, "Energy shocks and inflation: challenges for monetary policy," BIS Bulletins, Bank for International Settlements, number 131, Aug.
• Fatás, Antonio, 2024, "The resurgence of inflation: Why was emerging Asia different?," CEPR Discussion Papers, Centre for Economic Policy Research, number 19445, Sep.
• Kaetlynd McRae & Jessie Ziqing Chen, 2026, "Everything You Want to Know About the Bank’s Standing Liquidity Facility… But were too afraid to ask!," Staff Analytical Papers, Bank of Canada, number 2026-26, Jun, DOI: 10.34989/sap-2026-26.
• Cox, Lydia & Feng, Jiacheng & Müller, Gernot & Pasten, Ernesto & Schoenle, Raphael & Weber, Michael, 2024, "Optimal Monetary and Fiscal Policies in Disaggregated Economies," CEPR Discussion Papers, Centre for Economic Policy Research, number 19340, Aug.
• Christopher J. Gust & Edward P. Herbst & J. David López-Salido, 2026, "Inflation Uncertainty and Endogenous Planning Horizons," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 103617, Aug, DOI: 10.17016/FEDS.2026.055.
• Jamilov, Rustam & König, Tobias & Müller, Karsten & Saidi, Farzad, 2024, "Two Centuries of Systemic Bank Runs," CEPR Discussion Papers, Centre for Economic Policy Research, number 19382, Aug.
• Eduardo Amaral & Rafael Guerra & Alejandrina Salcedo & Pablo Tomasini & Christian Upper, 2026, "High public debt in the Americas: non-linear implications for risk premia and inflation expectations," BIS Bulletins, Bank for International Settlements, number 133, Aug.
• Delatte, Anne-Laure & Garg, Pranav & Imbs, Jean, 2024, "The Bank Lending Channel of Monetary Policy Has Real Effects," CEPR Discussion Papers, Centre for Economic Policy Research, number 19502, Sep.
• Auclert, Adrien & Rognlie, Matthew & Straub, Ludwig, 2024, "Fiscal and Monetary Policy with Heterogeneous Agents," CEPR Discussion Papers, Centre for Economic Policy Research, number 19501, Sep.
• Matej Opatrny & Martin Opatrny & Tomas Havranek & Zuzana Irsova & Mojmir Hampl, 2026, "Optimal Inflation Rate: A Meta-Analysis," Papers, arXiv.org, number 2608.00567, Aug.
• Barthélemy, Jean & Mengus, Eric & Plantin, Guillaume, 2024, "Fiscal Dominance: Implications for Bond Markets and Central Banking," CEPR Discussion Papers, Centre for Economic Policy Research, number 19591, Oct.
• Alexander, Patrick & Han, Lu & Kryvtsov, Oleksiy & Tomlin, Ben, 2024, "Markups and Inflation in Oligopolistic Markets: Evidence from Wholesale Price Data," CEPR Discussion Papers, Centre for Economic Policy Research, number 19419, Sep.
• Ayelen Banegas & Lucas Devigne & Mulalo Mamburu & Kleopatra Nikolaou & Anna Samarina & Fabio Tamburrini, 2026, "Government bond-backed repo markets: between resilience and vulnerability," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2026-057, Aug, DOI: 10.17016/FEDS.2026.057.
• Oliver Pfäuti & Edson Wu, 2026, "Inattentive Price Setting and Inflation Under Fiscal Policy Uncertainty," CESifo Working Paper Series, CESifo, number 12912.
• Dahal, Mounata & Campbell, Ben, 2026, "The Impact of Inflation on Healthy Food Spending: Evidence from Double Machine Learning Analysis," 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri, Agricultural and Applied Economics Association, number 404615, DOI: 10.22004/ag.econ.404615.
• Rey, Hélène & Stavrakeva, Vania & Tang, Jenny, 2024, "Currency Centrality in Equity Markets, Exchange Rates and Global Financial Cycles," CEPR Discussion Papers, Centre for Economic Policy Research, number 19508, Sep.
• Gabriel de Macedo Santos, 2026, "Reading Copom's Tone: A Weighted LLM Framework for Hawkish-Dovish Sentiment, Forward Guidance, and Uncertainty," Papers, arXiv.org, number 2608.07251, Aug.
• Badino, Nicolò & Cardullo, Gabriele & Sechi, Agnese, 2026, "Inflation Bites Differently: Household Consumption, Welfare, and Poverty during the 2022 European Energy Crisis," IZA Discussion Papers, IZA Network @ LISER, number 18849, Jul.
• Harshbir Kaur & Rishi Vala, 2026, "Unpacking interest rate uncertainty in 2025," Staff Analytical Papers, Bank of Canada, number 2026-25, Jun, DOI: 10.34989/sap-2026-25.
• Chen, Tao & Levell, Peter & O'Connell, Martin, 2024, "Measuring cost of living inequality during an inflation surge," CEPR Discussion Papers, Centre for Economic Policy Research, number 19388, Aug.
• Ambrosino, Ludovica & Chan, Jenny & Tenreyro, Silvana, 2026, "Trade fragmentation, inflationary pressures and monetary policy," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 130958, Oct.
• Jackson, Andrew & Svartzman, Romain & Barmes, David & Pereira da Silva, Luiz Awazu, 2026, "Revisiting monetary policy and price stability in the green transition," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 140416, Jul.
• DeLay, Nathan & Brewer, Brady & Cowley, Cortney & Kreitman, Ty & Scott, Francisco, 2026, "Fed Cattle and Fed Policy: The Role of Interest Rates in the U.S. Beef Cattle Cycle," 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri, Agricultural and Applied Economics Association, number 404349, DOI: 10.22004/ag.econ.404349.
• Fisnik Bajrami & Ermal Lubishtani, 2026, "The Trade Effects of Official Dollarization Over Time: A Meta-Regression Analysis," Working Papers IES, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, number 2026/24, Aug, revised Aug 2026.
• Reina Ke Xin Li & Andreas Park & Andreas Veneris & Srisht Fateh Singh, 2026, "Multi-Currency AMMs for Decentralized FOREX Markets: Feasibility & Optimal Design," Papers, arXiv.org, number 2607.26405, Jul.
• Esteban Sánchez-Gómez, 2026, "Machine Learning Methods for Multi-Horizon Inflation Forecasting: A Comparative Analysis for Costa Rica," Documentos de Trabajo, Banco Central de Costa Rica, number 2606, Aug.
• Remo Isch-Taudien & Cyril Monnet, 2026, "The Option Value of Money," Working Papers, Swiss National Bank, Study Center Gerzensee, number 26.02, Jun.
• Daniele Aglio & Eric Bartelsman, 2026, "The Micro-Aggregated Phillips Curve," Tinbergen Institute Discussion Papers, Tinbergen Institute, number 26-046/VI, Jul.
• Paudel, Ujjwol, 2026, "Cost shocks and price pass-through," 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri, Agricultural and Applied Economics Association, number 404620, DOI: 10.22004/ag.econ.404620.
• Lukasz Adamski & Robert Slepaczuk, 2026, "When the Fed Speaks: Dynamics and Forecasts of the Volatility Surface," Papers, arXiv.org, number 2608.10693, Aug.
• Mikhail Perepelitsa, 2026, "Proof-of-Stake Dynamics: The Elusive Price Anchor and Endogenous Volatility Harvesting," Papers, arXiv.org, number 2607.16622, Jul.