Economics
Denmark set to continue growing despite risks – central bank
The Scandinavian economy is prepared to withstand external shocks, says analysis
Podcast: Bank of Israel’s Flug reflects on her time as governor
Former IMF economist talks about how her love of policy helped her lead Israel’s central bank
UK statistics body to launch high-speed indicators
Big data approach should allow faster estimates of economic activity, ONS says
Researchers estimate two alternatives to DSGE model at ZLB
Dallas Fed paper finds piecewise linear version of the model is an “excellent substitute”
Central bank outlook is key to rate decisions’ impact – Bundesbank paper
“Pure policy” and “information” shocks have very different effects on economy, researcher argues
Book notes: Where economics went wrong, by David Colander and Craig Freedman
Chicago economics’ gladiatorial debating style has cost the discipline dearly, the authors argue
US bank interconnectedness is falling – San Fran Fed paper
New method focuses on idiosyncratic factors to identify possible links, researchers say
Buffers should not be rebuilt too quickly – Bank of Canada paper
Requirements should be lower during crisis recovery to avoid bank default, researcher argues
Dallas Fed launches economics website
New site aims to cater for wide range of readers, officials say
Climate change: a new challenge for financial stability?
Do climate change and the transition to a low-carbon economy pose a risk to financial stability? What is the role of central banks?
Riksbank maintains normalisation plans despite global slowdown
Next rate hike still expected in the second half of 2019
UK lawmakers demand end to inflation index ‘merry-go-round’
UK Statistics Authority called upon to seek permission from finance minister to amend RPI errors
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
Negative rates could have sped up US recovery – San Fran Fed paper
Output gap could have been reduced by as much as half compared to actual figures, researcher says
ECB policy affects Eastern European economies – Bank of Italy paper
Researcher uses “shadow interest rate” methodology to measure monetary policy spillovers
Podcast: Iceland removes gender bias from wages
Katrín Ólafsdóttir, MPC member at the Central Bank of Iceland, says equal pay certification will encourage women to enter the economics profession
Tighter US capital ratios eased inequality – Bundesbank paper
Richer households’ incomes fell while Fed’s easing cushioned effects on middle and low earners
Financial inclusion initiative: Federal Reserve Bank of St Louis
Improvements in the bank’s financial inclusion initiatives are helping tackle the polarisation of economic education in the US and across the globe
Book notes: EuroTragedy, by Ashoka Mody
The former International Monetary Fund insider elegantly tells the story of the creation of the currency that has defied economics, warning that it could get “worse, much worse”
New governor starts work at Belgian central bank
Former vice-governor Pierre Wunsch is backed by centre-right Francophone party
Conventional models beat machine learning in predicting crises, paper finds
Bundesbank paper contrasts performance of logit approach to machine learning
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
Causes of liquidity traps are ‘crucial’ to policy response – BdF paper
Liquidity traps caused by investor deleveraging may not respond to QE, researchers say
Podcast: Gender targets – friend or foe?
Officials from the ECB explain why gender targets, though controversial, are necessary to close the gender gap at central banks