International Journal of Central Banking最新文献

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Heterogeneous Bank Lending Responses to Monetary Policy: New Evidence from a Real-time Identifiation 异质性银行贷款对货币政策的反应:来自实时识别的新证据
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2014-01-01 DOI: 10.24149/WP1404
John C. Bluedorn, C. Bowdler, Christoffer Koch
{"title":"Heterogeneous Bank Lending Responses to Monetary Policy: New Evidence from a Real-time Identifiation","authors":"John C. Bluedorn, C. Bowdler, Christoffer Koch","doi":"10.24149/WP1404","DOIUrl":"https://doi.org/10.24149/WP1404","url":null,"abstract":"Heterogeneity in bank responses to monetary policy is consistent with an aggregate lending channel. However, estimates of bank responses are typically obtained using realized federal funds rate changes, which are endogenous to expected, macroeconomic fundamentals. As such, estimated heterogeneity can arise from expected fundamentals. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time forecasts, we find greater heterogeneity in responses. There is a much stronger monetary policy transmission to smaller banks. The shielding of lending amongst holding companies is larger using the exogenous measure. Unlike previous research, we find that holdings of securities amplify exogenous policy transmission, while equity capital negates it. The results highlight the importance of controlling for policy endogeneity in future studies of bank lending behavior.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"124 1","pages":"95-149"},"PeriodicalIF":1.3,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73524758","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An evaluation of the generalisability and applicability of the PhysioNet electrocardiogram (ECG) repository as test cases for ECG-based biometrics 对PhysioNet心电图(ECG)存储库作为基于ECG的生物识别测试用例的通用性和适用性的评估
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-04-13 DOI: 10.1504/IJCB.2012.046515
M. Tantawi, K. Revett, M. Tolba, A. Salem
{"title":"An evaluation of the generalisability and applicability of the PhysioNet electrocardiogram (ECG) repository as test cases for ECG-based biometrics","authors":"M. Tantawi, K. Revett, M. Tolba, A. Salem","doi":"10.1504/IJCB.2012.046515","DOIUrl":"https://doi.org/10.1504/IJCB.2012.046515","url":null,"abstract":"The PhysioNet is a very popular internet-based ECG repository which provides open access to a variety of ECG datasets. The data is collected from subjects within a medical framework, with the intention of acquiring clinically relevant information from patients. Because of the convenience afforded by the internet, literally thousands of ECG records can be downloaded and used for non-medical purposes, such as biometrics. The purpose of this study was to evaluate the applicability and/or suitability of the PhysioNet ECG data for deployment within biometrics. The needs and mindset of a clinician may be quite different from that of a security engineer. This paper therefore attempts to provide a preliminary examination of the PhysioNet ECG data repository along these dimensions, emphasising the need to create methodologies in the context of biometrics that not only take these considerations into account, but integrates them into the biometric methodology.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"19 1","pages":"66"},"PeriodicalIF":1.3,"publicationDate":"2012-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80254070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 15
Cognitive biometrics: a novel approach to person authentication 认知生物识别:一种新的身份验证方法
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-04-13 DOI: 10.1504/IJCB.2012.046516
K. Revett
{"title":"Cognitive biometrics: a novel approach to person authentication","authors":"K. Revett","doi":"10.1504/IJCB.2012.046516","DOIUrl":"https://doi.org/10.1504/IJCB.2012.046516","url":null,"abstract":"Biographical notes: Kenneth Revett is currently actively engaged in research focused in the development of the field of cognitive biometrics, which relies on the deployment of biosignals (EEG, ECG, EDR) for person authentication. He published the first textbook dedicated to Behavioral Biometrics (Wiley & Sons) and is currently finishing up texts in the areas of cognitive robotics, bioinformatics for computer scientists, and cognitive biometrics. He is the editor of two Inderscience journals: Int. J. of Cognitive Biometrics and the Int. J. of Cognitive Performance Support. He has authored over 130 papers (journal and conference), and served on 30+ international programme committees.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"353 1","pages":"1"},"PeriodicalIF":1.3,"publicationDate":"2012-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76471787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 31
Heartbeat biometrics: a sensing system perspective 心跳生物测定:传感系统视角
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-04-13 DOI: 10.1504/IJCB.2012.046514
S. Israel, J. Irvine
{"title":"Heartbeat biometrics: a sensing system perspective","authors":"S. Israel, J. Irvine","doi":"10.1504/IJCB.2012.046514","DOIUrl":"https://doi.org/10.1504/IJCB.2012.046514","url":null,"abstract":"This paper reviews the emerging research into exploitation of heartbeat data as a biometric for human identification. A variety of methods have been proposed for acquiring heartbeat signatures and a range of processing methods has been examined. We approach the biometric identification and verification problem by characterising the three major factors affecting performance: individual variants, environmental variants, and sensor variants. The ability to collect and process the signal, exploit the data for individual identification or verification, and disseminate the information depends on all three of these factors. Within each component, we have identified the relevant research. Where possible, we have tied these research papers to practical examples using high resolution ECG data. The research indicates that the heartbeat contains rich information about the individual, their level of anxiety, and the cardiac state.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"1 1","pages":"39"},"PeriodicalIF":1.3,"publicationDate":"2012-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90303918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
Performance of single-trial classifications of viewed characters using EEG waveforms 利用脑电图波形对观察字符进行单次分类的性能
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-04-13 DOI: 10.1504/IJCB.2012.046512
M. Nakayama, H. Abe
{"title":"Performance of single-trial classifications of viewed characters using EEG waveforms","authors":"M. Nakayama, H. Abe","doi":"10.1504/IJCB.2012.046512","DOIUrl":"https://doi.org/10.1504/IJCB.2012.046512","url":null,"abstract":"This paper examines the possibility of classifying characters viewed by subjects using single-trial Electroencephalogram (EEG) waveforms from the frontal and occipital areas of the brain. As a training data set, Event-Related Potentials (ERPs) were calculated for each character from the first 20 trials and the remainder were assigned to a test data set. To extract features of waveforms, the regression relationship between the EEG and ERP waveforms was calculated from the training data set using the Support Vector Regression (SVR) technique. As a measure of classification performance, cross-validation rates were calculated for the test data set and they incrementally increased with the number of channels when the regression relationship was used. This result provides evidence that this procedure using the relationship between EEGs and ERPs is effective in predicting viewed characters, and that performance can be improved by a combination of waveforms across electrodes.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"27 1","pages":"10"},"PeriodicalIF":1.3,"publicationDate":"2012-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86897479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Exploiting the P300 paradigm for cognitive biometrics 利用P300范式进行认知生物识别
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-04-13 DOI: 10.1504/IJCB.2012.046513
C. N. Gupta, R. Palaniappan, R. Paramesran
{"title":"Exploiting the P300 paradigm for cognitive biometrics","authors":"C. N. Gupta, R. Palaniappan, R. Paramesran","doi":"10.1504/IJCB.2012.046513","DOIUrl":"https://doi.org/10.1504/IJCB.2012.046513","url":null,"abstract":"Automatic identification of a person’s individuality is an important issue today. Brain Computer Interfaces (BCI) which uses EEG as a modality is a promising area for cognitive biometrics. A BCI system could be used to recognise a sequence (say letters, colours or images) by the user. This sequence could form a ‘BrainWord’, which could be used for authentication in a multimodal environment with other technologies for high security applications. In this work, we studied several variations of the well-known P300 BCI paradigm. The influence of irrelevant stimuli during a task was studied by considering the popular Rapid Serial Visual Paradigm (RSVP) . The variation in spatial locations of the presentation stimuli during a task was studied, by designing a Spatially Varying Paradigm . Comparison of classification accuracies and bit rates for eight participants from a BCI perspective, highlights that RSVP paradigm could be exploited effectively for biometrics.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"302 1","pages":"26"},"PeriodicalIF":1.3,"publicationDate":"2012-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82860876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 32
Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound 非常规货币政策与大衰退:估计零利率下限下利差压缩的宏观经济效应
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2012-01-01 DOI: 10.7892/BORIS.40276
C. Baumeister, Luca Benati
{"title":"Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound","authors":"C. Baumeister, Luca Benati","doi":"10.7892/BORIS.40276","DOIUrl":"https://doi.org/10.7892/BORIS.40276","url":null,"abstract":"We explore the macroeconomic effects of a compression in the long-term bond yield spread within the context of the Great Recession of 2007–09 via a time-varying parameter structural VAR model. We identify a “pure” spread shock defined as a shock that leaves the policy rate unchanged, which allows us to characterize the macroeconomic consequences of a decline in the yield spread induced by central banks’ asset purchases within an environment in which the policy rate is constrained by the effective zero lower bound. Two key findings stand out. First, compressions in the long-term yield spread exert a powerful effect on both output growth and inflation. Second, conditional on available estimates of the impact of the Federal Reserve’s and the Bank of England’s asset purchase programs on long-term yield spreads, our counterfactual simulations suggest that U.S. and U.K. unconventional monetary policy actions have averted significant risks both of deflation and of output collapses comparable to those that took place during the Great Depression.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"32 1","pages":"165-212"},"PeriodicalIF":1.3,"publicationDate":"2012-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77720740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 361
Systemic risk: changing the regulatory perspective 系统性风险:改变监管视角
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2010-12-01 DOI: 10.5167/UZH-44910
J. Rochet
{"title":"Systemic risk: changing the regulatory perspective","authors":"J. Rochet","doi":"10.5167/UZH-44910","DOIUrl":"https://doi.org/10.5167/UZH-44910","url":null,"abstract":"The article puts forward the view that the regulatory perspective on systemic risk should be changed drastically. The sub-prime crisis has indeed revealed many loopholes in the supervisory/regulatory framework for banks—in particular, the inability to deal with the too-big-to-fail syndrome and also the lack of resiliency of interbank and money markets. To a large extent, the contagion phenomena that took place in these markets were the necessary outcomes of the passive attitude of banking supervisors, who have let large banks develop a complex and opaque nexus of bilateral obligations. We propose two reforms: adopting a platform-based (instead of institutionbased) regulatory perspective on systemic risk and encouraging a generalized move to central counterparty clearing.","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"10 1","pages":"259-276"},"PeriodicalIF":1.3,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85155042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 20
Investment Dynamics with Natural Expectations. 具有自然预期的投资动态。
IF 1.3 3区 经济学
Andreas Fuster, Benjamin Hebert, David Laibson
{"title":"Investment Dynamics with Natural Expectations.","authors":"Andreas Fuster,&nbsp;Benjamin Hebert,&nbsp;David Laibson","doi":"","DOIUrl":"","url":null,"abstract":"<p><p>We study an investment model in which agents have the wrong beliefs about the dynamic properties of fundamentals. Specifically, we assume that agents underestimate the rate of mean reversion. The model exhibits the following six properties: (i) Beliefs are excessively optimistic in good times and excessively pessimistic in bad times. (ii) Asset prices are too volatile. (iii) Excess returns are negatively autocorrelated. (iv) High levels of corporate profits predict negative future excess returns. (v) Real economic activity is excessively volatile; the economy experiences amplified investment cycles. (vi) Corporate profits are positively autocorrelated in the short run and negatively autocorrelated in the medium run. The paper provides an illustrative model of animal spirits, amplified business cycles, and excess volatility.</p>","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"8 81","pages":"243-265"},"PeriodicalIF":1.3,"publicationDate":"2010-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3521572/pdf/nihms394491.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"31125558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Methodiek Schoolverlatersinformatiesysteem meetjaren 2006 en 2007 2006年和2007年的学校交通信息系统
IF 1.3 3区 经济学
International Journal of Central Banking Pub Date : 2009-01-01 DOI: 10.26481/umarot.2009004
Huijgen Timo, Kolk Paul van der, Soudant Esther
{"title":"Methodiek Schoolverlatersinformatiesysteem meetjaren 2006 en 2007","authors":"Huijgen Timo, Kolk Paul van der, Soudant Esther","doi":"10.26481/umarot.2009004","DOIUrl":"https://doi.org/10.26481/umarot.2009004","url":null,"abstract":"Het Researchcentrum voor Onderwijs en Arbeidsmarkt (ROA) voert jaarlijks viergrootschalige schoolverlatersonderzoeken uit. Doel van deze onderzoeken is hetverschaffen van inzicht in de relatie tussen het gevolgde onderwijs en de intrede opde arbeidsmarkt. Daarnaast kan de doorstroom binnen het onderwijs nader wordenonderzocht. Bij alle vier de onderzoeken worden schoolverlaters c.q. afgestudeerdenongeveer anderhalf jaar na het behalen van het diploma geA«nquAateerd. De vieronderzoeken bestaan uit de VO-Monitor (VMBO, HAVO en VWO), de BVEMonitor(BOL en BBL), de HBO-Monitor (het hoger beroepsonderwijs) en deWO-Monitor (het universitair onderwijs). Bij al deze onderzoeken gaat het om degediplomeerde uitstroom uit het reguliere, door de overheid bekostigde onderwijs.Op basis van de resultaten wordt ieder jaar een aantal rapporten gepubliceerdwaarin op landelijk niveau een overzicht wordt gegeven van de doorstroom vanrecent gediplomeerden naar de arbeidsmarkt en het vervolgonderwijs. De resultatenop instellingsniveau kunnen daarnaast door onderwijsinstellingen gebruikt wordenals instrument binnen hun kwaliteitszorg","PeriodicalId":51531,"journal":{"name":"International Journal of Central Banking","volume":"47 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88502688","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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