Macroeconomics
Eurozone repo markets are slowing policy transmission, ECB paper says
Dealer banks use market power to get better prices from other institutions
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
Joseph Stiglitz calls for rethink of macroeconomics
DGSE models have “nothing to say” about economic effects of Covid-19 measures, Nobel winner says
Decision theory can guide climate modelling, Nobel laureate says
Lars Peter Hansen argues policy-makers need to pay more attention to uncertainty
El Salvador abolishes statistics agency
Central bank will absorb body that calculates inflation
People: World Bank appoints Gill as chief economist
Two members join Bank of Japan board, and senior IMF officials Lester and Rice step down
Brazil central bank union ends strike
Months of industrial action fail to secure requested pay increase
Banking systems’ long-term systemic risk has grown – ECB paper
Assets became safer but banking systems’ failures were more harmful, analysis finds
ECB paper argues for existence of ‘liquidity coverage channel’
Researchers analyse impact of eurozone central banks’ actions after onset of Covid-19 pandemic
Three QE controversies, two theories
BNP Paribas Asset Management‘s head of macro research, Richard Barwell, explores three controversies surrounding quantitative easing through the lens of the quantities and signals theories, and considers whether all asset purchase programmes should be…
ECB paper analyses financial crisis contagion
Crisis in one region can trigger more as investors reassess other markets, researchers say
Eurozone could improve fiscal pact – ECB paper
Reformed framework should combine expenditure growth rule with “debt anchor”, researchers say
Sudden carbon price rise risks major financial shocks – ECB paper
Model looks at impact on eurozone banks of different decarbonisation measures
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
Book notes: Mission economy, by Mariana Mazzucato
Although worth reading, the book doesn’t offer as many answers as it could when it comes to reimagining the capitalist system
Central Banking Awards 2022: final winners unveiled
Prizes for Central bank of the year, Lifetime achievement, Transparency, Economics and more
US lawmakers approve vote on four Fed nominations
Senate Republicans end boycott after Raskin withdraws bid, but oppose Lisa Cook
‘Financial concerns’ impact consumption – BoE paper
Households with financial worries have a higher marginal propensity to consume, survey shows
BoC paper highlights ‘profound impact’ of heterogeneity
Confluence of factors has pushed heterogeneity into the forefront of economic research, authors say
Kazakhstan’s president announces changes to powerful wealth fund
National unrest leads to changes at SWF that owns an estimated 40% of GDP
RBA develops new method of modelling financial sector
Approach takes Martin model “beyond the existing macroeconometric frontier”, say researchers
Biden nominates three to Fed board
Republican senator signals likely opposition to president’s pick for top supervisor
Economics Benchmarks 2021 report – executive summary
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more