Data
Doyne Farmer’s next big adventure: capturing the universe
Complexity theorist plans to build an economic super-simulator on a global scale
Phillips curve flatter when inflation is low – researchers
Downward wage and price rigidities cause non-linearity in Phillips curve, says Peterson Institute paper
MAS launches framework to promote responsible AI
MAS to work with banks to fight potential biases introduced by AI tools
Fed lifts lid on ETF purchases
Biggest holding is of a BlackRock ETF, the same firm managing the purchases
Rising to the challenge – Reserve management in an uncertain world
Amid unprecedented measures being taken by central banks and governments to combat the global Covid‑19 pandemic, BlackRock‘s Stephan Meschenmoser, Laszlo Tisler and Crystal Wan compare and contrast BlackRock’s model portfolio against its high-grade…
BoE paper: mining newspaper text can boost forecasts
Authors design “powerful new method” of incorporating text information into macroeconomic forecasts
RBI economists hunt for suitable core inflation measure
Study examines 11 candidates for a less volatile inflation measure that is easy to communicate
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
Podcast: Financial innovation and stability in the US
In the latest episode of the FedSpeak podcast, the Atlanta Fed’s Larry Wall discusses stablecoins, reserve currencies and credit loss accounting through the lens of financial stability
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
Podcast: An interdisciplinary approach to Covid-19 surveying
FedSpeak talks with the Minneapolis Fed’s Abigail Wozniak on her new real-time survey combining social science and epidemiology
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
BoE’s Proudman recommends data-gathering rethink
“Pull” model would be “revolutionary” but might come at too great a cost, official says
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
RBNZ’s Sam Allen on embracing the cloud
Central bank took a calculated risk in moving its financial markets group to a cloud platform
Pandemics can depress natural rates for multiple decades – SF Fed
Real wages tend to rise gradually for 30 years after pandemics, data stretching back to 1340s shows
Statisticians grapple with inflation impact of Covid-19
Collecting reliable inflation figures during lockdown is not straightforward
Fed’s balance sheet increases by 50% since March
Total assets now just shy of $6.4 trillion, a new record high
Fed banks ramp up Covid-19 surveying
Real-time and weekly surveys reveal deepening economic fallout
Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
US must overhaul statistics to fight coronavirus – Minneapolis Fed paper
New methods, laws and cross-sector agreements are necessary to support real-time data analysis, research says
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
Failure to curb ‘binge borrowing’ could worsen downturn – Yellen
“Excessively” high corporate borrowing may trigger a “wave of corporate defaults” in the coming months, former Fed chair warns