Economics
Latin America lags in use of robotics, but faces same threats
Robots threaten over 50% of jobs across the region, report warns, though they offer an opportunity to boost productivity
Kansas City Fed explores sources of wage dispersion in the US
Paper explores relative importance of “lifetime differences” and “match-specific” factors
Finnish paper investigates key factors in financial development
Data points to rule of law and economic development are key factors, paper argues
Spanish paper looks at sectoral comovement and monetary policy
Monetary policy shocks have greater effects when industries experience comovement - researchers say
People: New chairman in Macau; Bosnia appoints vice-governor
Chan Sau San to lead Macau’s monetary authority; Bosnia appoints vice-governor; Nathan Sussman leaves the Bank of Israel after six years as head of research
Book notes: The Limits of the Market, by Paul de Grauwe
De Grauwe has produced a concise analysis into how markets and governments react with one another; but his lack of familiarity with the history of economic thought is surprising
Where have all the women gone?
The number of women working at central banks has increased substantially, but a glass ceiling appears to remain for those reaching for senior management positions
Spanish paper looks at business cycle’s effects on industry
Industries are not moving uniformly to cohesion with the business cycle, says paper
Paper’s forecasting technique using Markov-switching models
Results outperform Fed’s survey of professional forecasters, says Bank of Spain paper
Australia risks shortage of economists, warns RBA’s Dwyer
Students are tending to choose business studies over economics, says the RBA’s head of information; central bank is trying to reverse the trend
Philip Turner urges RBNZ to focus analysis on ‘new normal’
Former BIS official gives positive review of RBNZ’s monetary policymaking process, but recommends the central bank focus its efforts on understanding changing economic structure
IMF gloom on US and UK balanced by brighter spots elsewhere
IMF raises projections for China, Japan and eurozone as the UK and US falter; maintains global growth forecasts at 3.5% in 2017
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
New Keynesian DGSE models need financial spillover channels – ECB paper
Models without powerful financial spillover channels will be “misleading”- researchers
Model looks at outbreak of ‘fire sales’
Higher capital ratios may aggravate financial contagion, the authors say
Silvana Tenreyro picked for BoE MPC
LSE academic to take over from Kristin Forbes as external member of the monetary policy committee at the end of June
Liability duration has impact on illiquid asset decisions, researchers find
Liability duration has impact on illiquid asset decisions, researchers find
People: Pakistan and Uzbekistan appoint deputies; Bangladesh Bank names new chief economist
Jameel Ahmad promoted to deputy role at Pakistan central bank; former IMF mission chief appointed as chief economist at Bangladeshi central bank
Paper examines how sticky investment prices affect DGSE model
Findings bring the model in line with growth accounting exercises, the researcher says
Successful bank nationalisations need trust in government, paper argues
DNB paper looks at effects of government intervention on bank customers’ behaviour
Encouraging creation of ‘quasi-safe assets’ may be destabilising, paper argues
Investors have distinct “safety demand”, researchers argue
Bank of Spain paper calculates implicit public debt thresholds
Researchers build on earlier work and apply models to Spanish data
Economic shocks more likely to spread within EU – new research
Researchers use new model to measure propagation of regional shocks in Europe
Broad sectors of Irish economy are ‘very connected’ – study
Irish research uses network analysis to look at sectoral linkages