The Americas
Latin American rates: Colombia adopts highest rate since 2001
Argentina holds steady again, while Nicaragua raises rates
Earnings power of economists remains above GDP per capita
Emerging market professionals earn lowest median salary, but incomes still more than double national average
Fed policy roundtable II: recession risk and sticky inflation
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
More than half of institutions favour semi-structural models
Just 35% of institutions include financial sector in key modelling
Fed policy roundtable: inflation targeting, asset purchases and uncertainty
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
Central banks forecast GDP less accurately than inflation
Over half of central banks reviewed models in a bid to project more accurately
Majority of central banks prefer economists with master’s degree
Economists are sponsored more for training than for PhDs
Economics teams constitute just a fraction of central banks’ total workforce
Most institutions have more policy economists than research colleagues
Staff with PhDs make up 21.3% of average economics department
Four-fifths of advanced economy institutions sponsor economists to undertake PhD qualification
Central banks judge success of research by number of publications
Inflation and exchange rate most topical issues for central banks
Use of centralised data services increases across institutions
Rise of central data teams has gone hand in hand with greater use of alternative data
Alternative data used at most central banks
Non-traditional data such as Google searches widely used to support research and forecasting
Research economists devote more working time to own projects
On average, own research works consume 25% of policy economists’ working time
Advanced economy institutions tend to produce more papers
Emerging market researchers averaged five papers a year in peer-reviewed journals
Research agenda determined across multiple levels
Governors and deputy governors give final sign-off on most research publications
Ilan Goldfajn wins race for IDB presidency
Former Brazilian central bank governor takes helm at scandal-hit institution
Majority of banks blend research and policy functions
Only one in five jurisdictions restructured economics unit in the past 12 months
US needs regulatory framework for non-banks, Treasury says
Non-banks’ provision of core banking services causes risks to privacy and stability, says report
Growth and inflation are top forecast indicators
More emerging markets forecast growth and inflation compared with the past year
Trinidad and Tobago adds fifth name to IDB race
Gerard Johnson announced as candidate on last day nominations were open
Last-minute moves shake up IDB race
Mexico replaces candidate, Argentina joins race
Banknote volumes and values rose among most central banks
Most recent estimates show volume and value of circulating notes rising in 2022
Project shows blockchain making FX trades faster and safer – NY Fed
Tests by NY Fed and BIS settles FX spot trades in less than 15 seconds