Economics
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
What economists learned from Covid-19
A rush of work on ‘epi-macro’ yielded breakthroughs and then faded. Will there be lasting benefits?
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
ECB paper looks at borrower-based macro-pru limits
Households’ resilience and banks’ capital ratios improved by caps on borrowing
Weather affects eurozone inflation, ECB paper finds
Bloc’s four biggest economies respond differently to changes in temperature and variability
Boston Fed expands programme to get people back into work
FedNow created high demand for IT roles, which sparked programme’s inception
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating
Moldova cuts rates while North Macedonia tightens
Inflation falling in both countries as Moldova confronts drought and energy problems
Lifetime achievement: Stefan Ingves
Modest man from the Finnish ‘boonies’ has had a major impact on international central banking
Central Banking Awards 2023: third group of winners announced
Awards include economic research, payments reform and risk management services
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Economics Benchmarks 2022 – presentation
Economics specialist Daniel Hinge discusses year-on-year trends, forecasting choices and research
Who will replace Brainard at the Federal Reserve Board?
Another empty chair leaves another difficult choice for Joe Biden
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
Biden to name Brainard to White House post this week – reports
Fed vice-chair would become leading economic adviser
Text analysis of news spots Chinese financial risk, says paper
Researchers’ model uses machine learning to assess thousands of newspaper articles
Wanted: radical ideas for inflation modelling
Hedge funds echo Mervyn King’s calls for a new approach to inflation modelling post-2022 crisis
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs