Report NEP-MON-2026-09-14

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:

• Koundouros, Andreas & Nautz, Dieter, 2026, "Inflation misperceptions of consumers," Discussion Papers, Free University Berlin, School of Business & Economics, number 2026/18, DOI: 10.17169/refubium-52929.
• Hristov, Nikolay & Menno, Dominik, 2026, "Long-run inflation and financial panics," Discussion Papers, Deutsche Bundesbank, number 17/2026, DOI: 10.71734/DP-2026-17.
• Alexander Goetz & Lucas Kyriacou & Florence Miguet Heimlicher & Stefanie Siegrist, 2026, "Do Swiss households revise their inflation expectations after monetary policy announcements?," Working Papers, Swiss National Bank, number 2026-11.
• Martin Summer, 2026, "Stablecoins, Inflation and the Settlement Hierarchy (Martin Summer)," Working Papers, Oesterreichische Nationalbank (Austrian Central Bank), number 280, Sep.
• Christopher Ashwell & Aleksandar Vasilev, 2026, "The effects of unconventional monetary policy on the Macroeconomy: A UK analysis," EERI Research Paper Series, Economics and Econometrics Research Institute (EERI), Brussels, number EERI RP 2026/06, Jan.
• Pablo D. Azar & Maryam Farboodi & Nish Sinha, 2026, "Stablecoins Meet the Mundell–Fleming Trilemma," Staff Reports, Federal Reserve Bank of New York, number 1202, Aug, DOI: 10.59576/sr.1202.
• Naveed Javed & James Morley, 2026, "Diminishing Monetary Potency under Fiscal Dominance: A Bayesian Local Projections Analysis," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2026-75, Sep.
• Ambrogio Cesa-Bianchi & Andrea Ferrero & Shangshang Li, 2025, "Capital flows and exchange rates: A quantitative assessment of the dilemma hypothesis," Bank of England Staff Working Paper series, Bank of England, number 1141, Sep.
• Mathias Drehmann & Xuewen Fu, 2026, "Hard to shift, easy to reshape: central bank reserve demand and frictions," BIS Working Papers, Bank for International Settlements, number 1372, Aug.
• Bauer, Michael & Czarnota, Alexander & Klein, Mathias, 2026, "Prices and Monetary Policy: The Role of Financial Constraints," Working Paper Series, Sveriges Riksbank (Central Bank of Sweden), number 468, Aug.
• Linda S. Goldberg & Oliver Zain Hannaoui & Sneha Parthasarathy, 2026, "Are Central Banks Moving Out of Dollar Assets?," Liberty Street Economics, Federal Reserve Bank of New York, number 20260902, Sep, DOI: 10.59576/lse.20260902.
• Abdellah Belbouli & Salma Senhaj & Fatima Touhami & Gilbert Alan Okouanga Pira & Abdelati Zouine & Ahmed Bahbah, 2026, "Cash in circulation and inflation in Morocco: Causality and economic impact
  [Liquidités et inflation au Maroc : causalité et impact économique]," Post-Print, HAL, number hal-05715333, Jun, DOI: 10.31893/multiscience.2026785.
• Carlos Giraldo & Iader Giraldo-Salazar & Jose E. Gomez-Gonzalez & Jorge M Uribe, 2026, "The Effects of Inflation on Banks’ Balance Sheets: Evidence from Emerging Markets," Documentos de trabajo, FLAR, number 023577, Sep.
• Jess Benhabib & Pengfei Wang & Yi Wen, 2026, "Incomplete Information and Self-Fulfilling Inflation Dynamics—Lucas meets Keynes," NBER Working Papers, National Bureau of Economic Research, Inc, number 35563, Jul.
• Ludovica Ambrosino & Jenny Chan & Silvana Tenreyro, 2025, "Trade fragmentation, inflationary pressures and monetary policy," Bank of England Staff Working Paper series, Bank of England, number 1146, Oct.
• Marcus Buckmann & Galina Potjagailo & Philip Schnattinger, 2025, "Blockwise Boosted Inflation: Non-linear determinants of inflation using machine learning," Bank of England Staff Working Paper series, Bank of England, number 1143, Sep.
• Reis, Ricardo, 2026, "Why did inflation rise and fall in 2021–2024? Channels and evidence from expectations," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 138478, Aug.
• Kazuhiro Hiraki & Meryem Rhouzlane, 2026, "How to Operationalize an Exchange Rate Peg," IMF Fiscal Affairs Department, International Monetary Fund, number 2026/006, Aug.
• Luigi Bocola & Gastón Chaumont & Alessandro Dovis & Rishabh Kirpalani, 2026, "Accounting for Credibility: Fiscal-Monetary Interactions and the Credibility of Central Bank Mandates," NBER Working Papers, National Bureau of Economic Research, Inc, number 35691, Aug.
• Stefania D'Amico & Thomas B. King & Francisco Torralba, 2026, "How Do Market Expectations React to the FOMC Dot Plot?," Staff Reports, Federal Reserve Bank of New York, number 1204, Sep, DOI: 10.59576/sr.1204.
• Breitenlechner, Max & Geiger, Martin & Klein, Mathias, 2026, "The Fiscal Channel of Monetary Policy," Working Paper Series, Sveriges Riksbank (Central Bank of Sweden), number 469, Aug.
• Anna CIeslak & Stephen Hansen & Hao Pang, 2026, "Risk Management in Monetary Policy: A Review with Asset Pricing Implications," Working Papers, Federal Reserve Bank of Dallas, number 2630, Sep, DOI: 10.24149/wp2630.
• Coleman, Winnie, 2026, "Mind the gap: Gender differences in inflation expectations," Discussion Papers, Free University Berlin, School of Business & Economics, number 2026/21, DOI: 10.17169/refubium-53175.
• Mr. Suman S Basu & Pablo Winant, 2026, "A Model of Macroeconomic Policies with Endogenously Insurable Exchange Rates," IMF Working Papers, International Monetary Fund, number 2026/188, Sep.
• Huberto M. Ennis & Alexander L. Wolman, 2026, "The Diffusion of Bank Reserves in the U.S," Working Paper, Federal Reserve Bank of Richmond, number 26-12, Sep, DOI: 10.21144/wp26-12.
• Kevin Hjortshøj O'Rourke & Roger Vicquéry, 2025, "How fixed are global exchange rates?," Bank of England Staff Working Paper series, Bank of England, number 1131, Jun.
• Birta B. Haraldsdottir & Bjarni G. Einarsson, 2026, "Too Little, Too Late? Testing The Optimality of Monetary Policy in Iceland," Economics, Department of Economics, Central bank of Iceland, number wp101, Aug.
• Brent Bundick & Nicolas Petrosky-Nadeau, 2026, "A Dual Mandate Can Support Price Stability," Research Working Paper, Federal Reserve Bank of Kansas City, number RWP 26-10, Aug, DOI: 10.18651/RWP2026-10.
• Monique Reid & Anis Foresto & Pabalelo Mosoma, 2026, "BER special question Do firms know about the new inflation target Implications for the path to 3," Occasional Bulletin of Economic Notes, South African Reserve Bank, number 11061, Sep.
• Micheal Bordo & Oliver Bush & Ryland Thomas, 2025, "'Muddling through or tunnelling through?’ UK monetary and fiscal exceptionalism and the Great Inflation," Bank of England Staff Working Paper series, Bank of England, number 1135, Jul.
• Benedikt Ballensiefen & Fabricius Somogyi & Hannah L Winterberg, 2026, "Demand for Dollars: Evidence from Survey Expectations," IMF Working Papers, International Monetary Fund, number 2026/186, Sep.
• Jeffery (Jinfan) Chang & Wei Xiong, 2026, "Monetary Policy in Mandarin Capitalism," NBER Working Papers, National Bureau of Economic Research, Inc, number 35562, Jul.
• Arisa Chantaraboontha, 2026, "Examining the Fiscal Theory of the Price Level: Evidence from developed and developing countries," Discussion Papers in Economics and Business, Osaka University, Graduate School of Economics, number 26-11, Sep.
• Ludovica Ambrosino & Jenny Chan & Silvana Tenreyro, 2026, "Productivity and inflation dynamics," Bank of England Staff Working Paper series, Bank of England, number 1201, Aug.
• Drishan Banerjee & Galina Hale & Harrison Shieh, 2026, "This Time Is (Mostly) Different: U.S. Tightening Cycles and Global Resilience in the 1980s vs 2020s," NBER Working Papers, National Bureau of Economic Research, Inc, number 35673, Aug.
• Sergio A. Correia & Stephan Luck & Emil Verner, 2026, "Bank Runs With and Without Bank Failure," NBER Working Papers, National Bureau of Economic Research, Inc, number 35504, Jul.
• Frederic Boissay & Harald Uhlig, 2026, "Reserves and the Buyer of Last Resort," NBER Working Papers, National Bureau of Economic Research, Inc, number 35548, Jul.
• Abdelkader Aguir & Fernanda Sabrini-Chatelard & Marouene Mbarek, 2026, "Carbon Emissions and Inflation Dynamics in the Eurozone : An Empirical GMM Approach," Post-Print, HAL, number hal-05734117, Sep, DOI: 10.2478/jcbtp-2026-0028.
• Freddy Cepeda-Lopez & Fredy Gamboa & Javier Miguelez-Márquez, 2026, "Settlement liquidity in the Colombian large-value payment system: the role of reserve requirements," BIS Working Papers, Bank for International Settlements, number 1373, Aug.
• Rawend Brahem, 2026, "Forecasting Inflation in Tunisia Using Machine Learning Methods," IHEID Working Papers, Economics Section, The Graduate Institute of International Studies, number 25-2026, Sep, revised 17 Sep 2026.
• Krishan Shah & Phillip Bunn & Jonathan Haskel, 2025, "The credit channel of monetary policy: direct survey evidence from UK firms," Bank of England Staff Working Paper series, Bank of England, number 1138, Jul.
• Jonathan Hambur & Martin McCarthy & Sam Munn & Emily Shaw, 2026, "Rate and See: Household Interest Rate Expectation Formation in Australia," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, number 2026-76, Sep.
• Johannes Fischer & Christoph Herler & Philip Schnattinger, 2025, "When the fog clears: the effect of reduced inflation uncertainty on households' financial behaviour," Bank of England Staff Working Paper series, Bank of England, number 1333, Jun.
• Jens H. E. Christensen & Glenn D. Rudebusch, 2026, "Can Fiscal, AI, or Monetary News Explain the Rise in r∗?," Working Paper Series, Federal Reserve Bank of San Francisco, number 2026-19, Aug, DOI: 10.24148/wp2026-19.
• Kai Arvai & Nuno Coimbra & Marco Pinchetti, 2026, "Fool's Gold? How the USD lost its Shine," NBER Working Papers, National Bureau of Economic Research, Inc, number 35669, Aug.
• Thomas W L Norman & Tim Willems, 2025, "A game-theoretic foundation for the fiscal theory of the price level," Bank of England Staff Working Paper series, Bank of England, number 1137, Jul.
• Zhengyang Jiang, 2026, "Financial Interdependence and Currency Internationalization," NBER Working Papers, National Bureau of Economic Research, Inc, number 35541, Jul.
• Ozge Akinci & Ṣebnem Kalemli-Özcan, 2026, "Pricing Risk Globally: Intermediary Constraints, the Dollar, and the Global Financial Cycle," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.), number 1445, Aug, DOI: 10.17016/IFDP.2026.1445.
• Martin Bodenstein & Junzhu Zhao, 2026, "Optimal Monetary and Fiscal Policy under Limited Foresight," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.), number 1444, Aug, DOI: 10.17016/IFDP.2026.1444.
• Mary Amiti & Sebastian Heise & David E. Weinstein, 2026, "The Anatomy of Tariff Pass-Through into Consumer Prices," Staff Reports, Federal Reserve Bank of New York, number 1201, Aug, DOI: 10.59576/sr.1201.
• Alexei Miksjuk & Yipei Zhang, 2026, "Riding the Global Financial Cycle: How Capital Flows into LICs," IMF Working Papers, International Monetary Fund, number 2026/179, Aug.
• Tobias Adrian & Domenico Giannone & Matteo Luciani & Mike West, 2026, "Risks and Uncertainty in Monetary Policy," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2026-061, Sep, DOI: 10.17016/FEDS.2026.061.
• Mahmoud Fatouh & Simone Giansante & Meryem Duygun, 2025, "The real economy effects of QE through the corporate bond market," Bank of England Staff Working Paper series, Bank of England, number 1134, Jul.
• Finck, David & Klein, Mathias & Tillmann, Peter, 2026, "The Inflationary Effects of Global Supply Chain Shocks: Evidence from Swedish Microdata," Working Paper Series, Sveriges Riksbank (Central Bank of Sweden), number 470, Aug.