Economics
Fed paper warns on helicopter money risks
Tool appears much less powerful when less realistic elements of the New Keynesian framework are removed; other options could work better, authors say
Paper examines how sovereign debt losses hit real economy
Researcher presents unique database on eurozone sovereign debt crisis
Global institutions strike Mongolia bailout deal
Institutions including the IMF, World Bank and People’s Bank of China strike a deal to provide funding and other support to the slumping economy
IMF’s Werner: Latin America must keep debt under control
Western hemisphere chief says there are some concerning signs on debt, although the risk of a systemic crisis is low; region well placed to weather Fed shock
ECB paper classifies eurozone banks’ business models
Researchers use supervisory data to outline models’ risk and performance
MAS seeking to build data science community, says chief data officer
David Hardoon urges people to embrace data science and computing; authority is looking to build links with academia and financial sector to share ideas
Zhou highlights need for ‘financial connectivity’ under Belt and Road
Initiative has sizeable financing demands that will require efforts to improve cross-border financial links, PBoC governor says
Dombret asks what form of international economic co-ordination is viable
It is impossible to have full global market liberalisation and national sovereignty and democracy, Bundesbank board member says
Authors struggle to cut ‘price puzzle’ from Australian data
Authors find various approaches to removing the puzzle from VAR models fail for Australian data, calling into question the usefulness of the models
Fed report finds many people left behind by growth
Survey finds nearly a quarter of Americans struggling to pay their bills; problems concentrated in less-educated segments of the population and minority groups
US household debt surpasses pre-crisis peak
Household debt exceeds 2008 level for first time, driven in part by auto loans and student debt
Paper examines effects of concentration of exports
Bank of Spain researchers examine 12 eurozone countries
French paper looks at impact of budget-neutral fiscal changes
Benefits and costs of budget-neutral changes “not equally distributed across agents”
Forecasting would improve with more regular data, says RBNZ’s McDermott
New Zealand is one of two advanced economies that uses quarterly data instead of monthly; current schedule has limited forecast improvements, RBNZ assistant governor says
Uncertainty weakens bank lending channel, Bank of Italy paper says
Researchers use database of loan applications from 650,000 firms
Industrial goods inflation may be building, ECB says
Prices of goods produced in eurozone see only “subdued” growth
Gaps in real estate data could threaten financial stability – Buch
Bundesbank vice-president highlights importance of monitoring credit conditions in tandem with house prices; G20 looks to data collected and distributed to fill gaps
Considerable slack may remain in eurozone labour market – ECB
Under-utilisation of labour may affect 18% of eurozone labour force, researchers say
BIS paper offers improved real exchange rate calculation
Authors find models used to calculate real effective exchange rate do not properly account for global value chains
Capital deepening ‘virtually absent’ in US and eurozone – ECB
US and eurozone have seen major falls in net investment, an ECB article says
Israel’s Flug: action needed on productivity
Bank of Israel governor warns Israel remains a laggard when it comes to growing output per person
Trade costs limit effects of internal devaluations – ECB paper
Researcher says trade costs explain Greek failure to boost exports