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@@ -2807,3 +2807,4 @@ From Novelty to Norm: Uncovering the Drivers of Virtual Tour Effectiveness in Re
 Whither inflation targeting as a global monetary standard?, Claudio Borio,"From its tentative beginnings, inflation targeting has spread to become the de facto global monetary standard. Historically, only the Gold Standard has had a longer lifespan...",https://www.bis.org/publ/work1230.htm,1230,2024-12-02,BIS,12/03/2024
 Predicting College Closures and Financial Distress,"Robert Kelchen, Dubravka Ritter, Douglas Webber","The authors assemble the most comprehensive data set to date on the characteristics of colleges and universities, including dates of operation, institutional setting, student body, staff, and finance data from 2002–2023.  Using these data, they develop a series of predictive models of financial distress among colleges and universities, utilizing factors like operational revenue/expense patterns, sources of revenue, metrics of liquidity and leverage, enrollment/staff patterns, and prior signs of significant financial strain. The authors benchmark their models against existing financial accountability metrics used by the federal government, showing that modern machine learning techniques combined with richer data are far more effective at predicting college closures than linear probability models or these existing federal metrics. The preferred model, which combines an off-the-shelf machine learning algorithm with the richest set of explanatory variables, can significantly improve predictive accuracy even for institutions with complete data, but is particularly helpful for predicting instances of financial distress for institutions with spotty data. The authors then conduct simulations using their estimates to contemplate likely increases in future closures, showing that enrollment challenges resulting from an impending demographic cliff are likely to significantly increase annual college closures for reasonable scenarios.",https://www.philadelphiafed.org/consumer-finance/education-finance/predicting-college-closures-and-financial-distress,24-20,December 2024,FED-PHILADELPHIA,12/03/2024
 Monetary policy pass-through to consumer prices: evidence from granular price data,"Anastasia Allayioti, Lucyna Gόrnicka, Sarah Holton, Catalina Martínez Hernández","We document that about 33% of the core inflation basket in the euro area is sensitive to monetary policy shocks. We assess potential theoretical mechanisms driving the sensitivity. Our results suggest that items of a discretionary nature, as reflected in a higher share in the consumption baskets of richer households, and those with larger role of credit in financing their purchase, tend to be more sensitive.Non-sensitive items are more frequently subject to administered prices and include non-discretionary items such as rents and medical services. Energy intensity does not seem to drive our results and the sensitive items are not dominated by durable goods, but are relatively evenly split between goods and services. Estimations over different samples show that the impact of monetary policy shocks on sensitive core inflation has become larger recently.",https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp3003~78aa7cc112.en.pdf?419ba7aaad637a2efb80aa503bfe652b,3003,3 December 2024,ECB,12/04/2024
+Monetary policy in the news: communication pass-through and inflation expectations," Fiorella De Fiore, Alexis Maurin, Andrej Mijakovic, Damiano Sandri",We analyse the role played by the media in channelling information about the monetary policy stance of the Federal Reserve to the public. We use large language models to assess the consistency between FOMC communication and media coverage over the period 1994-2023.,https://www.bis.org/publ/work1231.htm,1231,2024-12-04,BIS,12/05/2024