Fiscal policy
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Pandemic debt will test policy-makers – Richmond Fed research
Authorities may opt for “financial repression” policies with central banks keeping rates low – paper
Fed not considering negative rates – Powell
More fiscal support may be needed, as Fed’s lending will only be effective “for a while”, says Fed chair
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
Could engineering higher inflation help manage fiscal deficits?
Fiscal and monetary co-ordination could be a workable option for the Covid-19 recovery, Chicago Fed paper finds
Sri Lankan central bank looks back at ‘dismal’ year
Economy was just recovering from terrorist attacks when Covid-19 hit, CBSL says
Dominican Republic governor opposes ‘inadmissible’ pension proposal
Allowing workers to withdraw savings could create long-term crisis, Héctor Valdez Albizu warns
BoE paper argues for heterogeneous agent modelling
Authors use heterogeneous agent model to study fiscal policy and redistribution
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Fed to expand paycheck liquidity facility after criticism
Some observers say Paycheck Protection Program not reaching most affected firms
Most eurozone states experience fiscal spillovers – ECB paper
Eurozone fiscal policy may be especially effective when rate changes have little impact, paper says
Mass testing ‘would end crisis’ – Bullard
Government should foot bill for Covid-19 test production, Bullard says
Bank of Mexico rejects president’s request for early funds transfer
Central bank issues rare statement saying it must respect legal procedure for transferring funds
Book notes: Crisis spaces, by Costis Hadjimichalis
“Don’t buy this book, unless you are a dedicated Marxist”
IMF approves $1.4 billion transfer for Pakistan
Aid should be used to finance budget and bolster foreign reserves, IMF executive board says
IMF urges countries to use fiscal firepower against Covid-19
“Do whatever it takes, but make sure to keep the receipts,” says IMF fiscal chief
Is the ESM the eurozone’s best weapon against Covid-19?
Eurobonds face economic and political hurdles, say former officials
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
New Zealand banks agree dividend suspension with RBNZ
Central bank launches new funding facility and asks banks to stop redeeming non-CET1 instruments
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Singapore eases monetary policy sharply and taps reserves
MAS flattens currency appreciation slope to zero after government unveils $34 billion stimulus
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus