Growth
Fed policy-makers consider further QE
Janet Yellen “convinced” of scope for further expansion of Fed balance sheet; Bernanke says rapid fiscal tightening a “serious threat” to recovery
RBI’s Chakrabarty explores financial education in emerging markets
Deputy governor of the Reserve Bank of India discusses importance of financial education in emerging markets; says raised savings rate a “necessary condition” for double-digit growth
BIS researcher examines countercyclical policy in emerging markets
BIS Quarterly Review special feature assesses the use of countercyclical policies in emerging markets; finds broad implementation of stabilising monetary and fiscal policies
Fed’s beige book shows continuing modest growth
Federal Reserve economic summary reports continuing growth across the US; describes moderate wage growth and inflation
Central Bank of Belize publishes annual report
Annual report published by Central Bank of Belize says central bank is “cautiously optimistic” regarding economic outlook
BoJ’s Shirakawa considers demographic change in Japan
Governor of Bank of Japan examines macroeconomic impact of aging population; emphasises that Japan need not accept a lower long-run growth rate
Bank of Italy paper analyses impact of organised crime
Working paper estimates counterfactual economic performance in the absence of organised crime; finds mafia presence lowers Italian growth path
Latvia governor assesses state of domestic economy
Bank of Latvia governor discusses developments in the Latvian economy as central bank leaves interest rates unchanged
IMF paper relates fiscal consolidation and growth
Paper discusses relationship between fiscal consolidation and short- and long-run growth; warns that rapid consolidation can be harmful
Lagarde offers views on globalisation
Christine Lagarde discusses global connections and the future; takes feminist line in speech to graduating students
Bank Negara Malaysia reports slower economic growth
Overview of economy shows growth fell to 4.7% in Malaysia in the first quarter of 2012; domestic demand stays strong but export market slows
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
OECD laments fragile, uneven global recovery
Economic Outlook predicts slower GDP growth across OECD countries in 2012; discusses delicate recovery around the world
RBI paper considers monetary transmission in India
Reserve Bank of India working paper focuses on operation of monetary transmission mechanism in India; demonstrates significant causal effect of rate changes
BoE paper studies forecasting models
Working paper from Bank of England compares models with time-varying parameters in forecasting UK GDP growth, inflation and interest rates under structural change
Philadelphia Fed reports slowing manufacturing growth
Federal Reserve Bank of Philadelphia releases May 2012 Business Outlook Survey; finds slower manufacturing growth
IMF paper analyses situation in Togo
Researchers evaluate public investment surges, growth and debt sustainability in Togo; find very large increase in public investment would have positive macroeconomic effects in the long-run
BoE’s King says eurozone is ‘tearing itself apart’
Latest Inflation Report from the Bank of England lowers growth estimates for the economy; King says situation in eurozone continues to put pressure on the UK
RBA minutes note ‘fragile’ global picture
Reserve Bank of Australia board discussed “fragile” sentiment surrounding global economic recovery and slow domestic growth when making most recent monetary policy decision
Central Bank of Cyprus governor warns austerity is not enough
Panicos Demetriades calls on government to work alongside the central bank in getting the economy back on track; acknowledges impact the crisis in Greece is having on Cyprus
Lagarde hails Turkish reform success
Christine Lagarde completes first visit to Turkey since taking over as managing director at the IMF; praises progress in the country but says economy is now at "critical" juncture
Differing growth predictions demonstrate uneven global recovery
European Commission estimates 0.3% contraction for eurozone GDP; Lithuania and Thailand meanwhile revise growth estimates upwards
MAS assistant managing director discusses importance of market research
Jacqueline Loh highlights benefits of increased financial research for Asian economies; says risks associated with investing in Asia can be mitigated by enhanced information-gathering
Fed's Plosser looks beyond government intervention to generate growth
Philadelphia Fed president urges communities seeking economic growth to look beyond government initiatives