International
US policy tightening heightens chance of crisis for close partners, paper finds
Countries should diversify their global trade exposure, Federal Reserve economists say
Agent-based models: a new frontier for macroeconomics?
Agent-based modelling is opening up new possibilities for economics, but the discipline is still struggling to move from the sidelines to the mainstream
Populist policies can wreck economies, Sarb governor warns
South Africa needs economic stability, Kganyago says
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
Sarb’s Mminele calls for action on benchmark reforms
There is a considerable amount of work to be done before the transition, Daniel Mminele warns
Bruno and Shin investigate EM firms’ dollar vulnerabilities
BIS paper highlights negative effects of US dollar strength on emerging market firms, as figures show dollar borrowing is still on the rise
Basel Committee moots changes to leverage ratio
Regulation could be amended to mitigate central clearing impact; committee also critical of banks’ “window dressing” behaviour
BoJ governor offers advice on domestic resilience to external shocks
Central bank co-operation and communication are crucial for domestic resilience, Kuroda explains
Basel Committee finalises streamlined stress-testing guide
Updated principles reflect “rapid evolution” of stress-testing since 2009
Regulation could stabilise crypto asset market, experts argue
Uncertainty remains over what regulatory approach to take, but collaboration appears key, say webinar panellists
People: San Fran Fed appoints head of research
Sylvain Leduc becomes head of research at San Fran Fed; Shonubi approved as deputy in Nigeria; two front-runners to lead FSB; Iceland appoints head of new IT division
Emerging market governors back targeted capital controls
Governors says capital flow measures can be important tools in some circumstances
Mexico’s Guzmán worried about protectionism
Difficult to understand why given the experience during the Great Depression, the governor said
Chinese governor stresses trade risks at IMF meeting
Yi Gang says protectionism has already damaged global business confidence
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
IMF reports growing global financial risks
Supervisors must remain vigilant on risks developing in new areas, IMF says
FSB views crypto assets as minor threat to stability
Report highlights possible risks posed by rapidly changing sector; overall stability threat low, but regulators may need to act in other areas
IMF cuts global growth forecasts
Likelihood of further negative shocks has risen, warns Maurice Obstfeld
‘Amazon effects’ impact pricing across economy – paper
Alberto Cavallo says online competition has changed pricing dynamics on- and offline
Prudential regulation subject to ‘leakages’ – BIS paper
Net effect of tighter prudential regulation is positive for economic growth, paper finds
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize
Central bank independence key to low and stable inflation – IMF
Domestic factors more important than global financial forces, researchers find
Output gaps are significant cause of inflation – BIS paper
Researchers find evidence of flatter Phillips curve in advanced economies
What is the future of banknotes?
Antti Heinonen searches for clues on the future of banknotes at central banks worldwide