Network, established in 2012, brings together researchers from around the world with access to micro-level data on individual … studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … explanatory power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk …

identification strategies used, critically assess strengths and weaknesses, discuss connections with theory, and draw out potential …

This paper investigates the use of trimmed means as high-frequency estimators of" inflation. The known characteristics … that simple averages of price data are" unlikely to produce efficient estimates of inflation. Trimmed means produce … superior estimates" of core inflation,' which we define as a long-run centered moving average of CPI and PPI" inflation. We …

As inflation approaches zero, it becomes increasingly important to examine the price indices on which monetary policy … index of the cost-of-living, is that there are likely to be biases in the index as a measure of inflation. In this paper we … inherent in the CPI as a measure of inflation--weighting bias. Utilizing a dynamic factor model we are able to compute the …