Economics
Putting big data into action
Big data is changing the way central banks think about the economy and oversee the financial system. In a forum sponsored by BearingPoint, Central Banking convened a panel of experts to discuss the innovative ways central banks are making use of big data.
RBA paper modifies DGSE to include housing sector
Model does better job of explaining data on Australian economy, researchers say
Housing bubbles can boost credit supply, Spanish paper finds
Evidence of Spanish housing bubble show banks boosting credit supply, researchers say
Paper looks at impact of financial shocks on US labour markets
Negative shocks have far bigger effects than positive ones, researchers find
GDP growth only raises profits for some banks – Bank of Italy paper
Banks with large loan portfolios benefit from GDP growth – researchers
Data prompts positivity from Carney
Economic slowdown in Q1 was not due to the economic climate, BoE governor says
ECB warns EU may be making wrong assumptions on ageing
Eurostat projections more favourable than those of other agencies – ECB bulletin
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
Podcast: Canada’s Wilkins on fighting unconscious bias
Carolyn Wilkins on how the Bank of Canada has worked to improve its gender balance
Eurozone governments’ post-crisis fiscal policies were ‘self-defeating’
Policies ended up being contractionary, IMF-organised conference hears
Issuing “foreign-law” debt can cut costs in times of crisis – ECB paper
Eurozone countries’ bonds issued abroad showed major premiums during debt crisis – researchers
Argentina falters at ‘historic’ moment for BCRA
Replacing Federico Sturzenegger with a finance minister with close ties to the president sends a confused signal about central bank independence
Some macro-prudential policies may increase income inequality – DNB paper
Researchers look at data from 69 countries from 2000–13
Creating a diverse workforce isn’t easy – San Fran Fed’s Daly
Improving diversity in the research department has taken concerted effort, says Mary Daly
Banque de France paper sketches policy routes for post-crisis central banks
“New orthodoxy” would see unchanged policy goals, but more freedom to lower interest rates
Podcast: San Fran Fed’s Daly on gender inequality in central banks
Mary Daly on the importance of role models in improving central banks’ gender balance
New Zealand governor accused of making partisan comments
As a fund CEO, Orr said he gave up funding earthquake rebuild; some interpreted his remark as an attack on the previous government
Italian and Spanish sovereign bond yields respond to ECB policy – researcher
Central Bank of Ireland letter says response to ECB announcements impaired during crisis
Researchers propose new method of measuring Chinese inflation
Bank of Finland paper says many current measures under-weight food and energy prices
Government spending can have low multipliers at ZLB – Bank of Italy paper
Model’s results are in line with recent empirical evidence, researchers say
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power
The Bank of Italy’s approach to risk-based budgeting
The financial crisis blurred the lines between Anglo-Saxon and continental European central bank models, presenting challenges when treating both the sources of risk and risk-bearing capacity using financial and accounting budgeting techniques
The IFF China Report 2018
Insight and opinion from China’s top leaders, policymakers and financiers