Economics
Nominal interest rates strongly affect savings – ECB paper
Simple models based on real rates do not accord with eurozone data, researchers find
Bernanke, Diamond and Dybvig win Nobel Prize
Economics prize goes to authors of widely cited work on financial crises
Central Bank of Kenya raises rate and denies FX shortage
New president nominates former governor Ndung’u to become finance minister
Expectations are key to carbon tax’s impact, says ECB paper
Inflation may rise if consumers doubt government’s commitment to raise green taxes, research finds
Bundesbank vice-president calls for shift to ‘carbon accounting’
Proper calculation of carbon costs will mean firms disclosing private data, Claudia Buch says
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
Eurozone repo markets are slowing policy transmission, ECB paper says
Dealer banks use market power to get better prices from other institutions
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
How to run a world-class economics department
Benchmarking data shows central banks have myriad ways of organising their economists. So how do some of the world’s top research organisations do it?
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Joseph Stiglitz calls for rethink of macroeconomics
DGSE models have “nothing to say” about economic effects of Covid-19 measures, Nobel winner says
Decision theory can guide climate modelling, Nobel laureate says
Lars Peter Hansen argues policy-makers need to pay more attention to uncertainty
Book notes: Can’t we just print more money?, by Rupal Patel and Jack Meaning
A genuinely readable but non-neutral introduction to economics
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
US experts believe inflation will fall, eventually
CPI inflation surges above consensus forecasts, but economists expect a turning point soon
Rising inflation still stalks major Latin American economies
Tighter monetary policy in Brazil, Chile and Mexico is failing to bring inflation down
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
Brazil central bank union ends strike
Months of industrial action fail to secure requested pay increase
Bank of Canada deputy stresses heterogeneity’s role in monetary policy
Debt may complicate tightening cycle, as Canadian consumer inflation expectations rise
Banking systems’ long-term systemic risk has grown – ECB paper
Assets became safer but banking systems’ failures were more harmful, analysis finds
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months