Bank Underground

Bank Underground

Bank of England

Bank Underground is a blog written by staff at the Bank of England. On Bank Underground, authors write in an individual capacity and there is no “house view”.


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Bank of England · 10 August 2023 English

Marco Garofalo, Simon Lloyd and Edward Manuel The economic consequences of the Russia-Ukraine war have brought the importance of sharp changes in commodity prices, such as oil, to centre stage. …


Bank of England · 8 August 2023 English

Nicholas Vause and Carolin Pflueger Recently, Pflueger, Siriwardane and Sunderam (2020) proposed a new measure of investor risk perceptions based on the cross-section of stock prices. Using that measure, they …


Bank of England · 28 June 2023 English

Danny, I think this an interesting research piece, but I suspect three aspects are critical: 1. Markets need sellers for prices to fall; I suspect there is a higher percentage …


Bank of England · 13 June 2023 English

Very thought provoking. I’d be interested in how you think through long term ‘sick’ numbers and the notion of ‘underemployed’* as they impact more than ever. Does the binary ‘employed’ …


Bank of England · 12 February 2023 English

There are a number of aspects in this article and the supporting working paper 995 which raise concerns. The work does not seem to have considered that >96% of leasehold …


Bank of England · 9 February 2023 English

Interesting and important to consider this very politicalised question in terms of the evidence. I think it is a mistake to assume remuneration policy is the only driver (or mitigant) …


Bank of England · 3 February 2023 English

I thought this was a really interesting piece. It would be good if the authors could explore the arguments and empirical literature that judges whether bankers' total remuneration should be …


Bank of England · 26 January 2023 English

In chart 3 is "Other" a residual from the regressions or does it refer to other controls which you used?


Bank of England · 21 December 2022 English

Your article on predicting exchange rates ignores an important point, namely, that UIP should have a risk premium and that the further ahead one looks the more persistent is the …


Bank of England · 19 December 2022 English

I had a real fun with your quiz. Thanks