Articles by Daniel Hinge
Building a fast, flexible and free DSGE model
A team at the New York Fed is part way through translating its DSGE model into Julia, a fast, open-source mathematical programming language
IMF issues stark warning to UK on EU exit
Bank of England could find itself battling market dislocation and “substantial” economic slowdown if UK votes to leave EU, IMF warns; Christine Lagarde dismisses accusations of political meddling
Carney dismisses independence fears after EU referendum comments
Governor says BoE has responsibility to comment on short-term impact of EU referendum; fog of uncertainty makes policy-making unusually difficult, as MPC holds rate again
Riksbank-FI merger not on the table – Swedish minister
Per Bolund says the government is not actively considering radical reform options discussed by the Riksbank, and defends Swedish approach to macro-prudential independence
Stanford's John Taylor on the global monetary system and central bank co-operation
The Stanford University professor talks to Daniel Hinge about how central banks can co-ordinate policy to break free from a downward spiral in interest rates
Rajan’s salary makes him a bargain among G20 governors
Indian governor takes home an unusually small sum each year compared with some other G20 governors, and comes out favourably on other metrics too
Cross-border banking contraction broadens – BIS statistics
Latest cross-border banking statistics show drop in cross-border claims spread in Q4 2015 from emerging markets to broader regions; China sees particularly large drops in lending
Swedish regulator takes second stab at amortisation rule
Macro-prudential regulator unveils plans for mandatory amortisation similar to those struck down by the Swedish judiciary in 2015
Norway’s NBIM drops first batch of coal investments
Fund excludes 52 coal-related companies from portfolio in first “tranche”, with more planned; measuring exactly which firms fall within boundary proves tricky
John Taylor offers way out of downward interest rate spiral
Stanford University professor says a return to more “rule-like” policy-making could help bring easing cycle to an end, with the Fed playing a key role
Sam Woods to replace Bailey as PRA chief
Bank of England executive director promoted, to take over from Andrew Bailey when he moves to the Financial Conduct Authority
Norway’s Olsen plans to seek reappointment
Norges Bank governor says he plans to seek a second term, as government launches public application process for position
FSB intrigued by potential uses of distributed ledgers
Mark Carney says FSB members see ‘exciting opportunities’ in financial technology, including the potential for distributed ledgers to bring security and efficiency
Central banks struggle to manage price expectations
Large central banks have responded aggressively to falling levels of inflation and inflation expectations, but with divided and limited success. What can policy-makers do to restore confidence?
Turkish central bank narrows rate corridor with cut
Central bank begins process of narrowing rate corridor in last meeting of Erdem Başçı’s term, though it keeps the policy rate on hold
Economists still scrambling to adapt models to lower bound
Many traditional economic models perform poorly now major economies are near the effective lower bound, but economists at the RES annual conference offer a range of solutions
RBNZ investigating possible leak
Central bank launches external investigation, after former RBNZ economist was told there would be an unexpected rate cut before the decision was made public
Bank of Israel establishes banking innovation division
New section of banking supervision department formed to help foster innovation but contain the accompanying risks; Dudi Bavli chosen to head division
Norges Bank willing to consider move into negative territory
Central bank cuts rates to 0.5% and signals further action likely to follow; executive board concerned by side-effects of negative rates, but willing to use them if necessary
RBNZ’s Gordon offers advice on building a sound risk management system
Former risk head at RBNZ offers advice on what should be the focus for central banks looking to build an enterprise risk management system
NY Fed says ‘no evidence’ systems breached
Spokeswoman says there is “no evidence” of attempts to penetrate Federal Reserve systems, amid reports saying Bangladesh Bank was concerned funds were stolen from its account
Central banks running out of room amid turbulence, BIS warns
Confidence in central banks is “faltering” as policies prove impotent, while negative rates erode bank profitability and debt levels weigh on global growth
Turkey’s Kenç sheds light on central bank ‘roadmap’
Deputy governor tells Central Banking conference that a 'roadmap' of policy changes helps improve confidence in the economy; says the central bank has gained market trust despite independence fears
Book notes: The end of alchemy, by Mervyn King
King’s book on how to fix everything that is wrong with the financial and economic system lays out radical proposals that deserve serious consideration