Labour
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
BoJ hawkishness due to weak yen belies wage inflation concerns
The contrast in Japan-US economic, price and wage performance and their implications for monetary policies
Twenty years on, Visegrád states are converging to rest of the EU
Czech Republic, Hungary, Poland and Slovakia have undergone economic transformation, CNB finds
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
Banxico paper probes forced labour’s lingering effects in Ecuador
High forced labour involvement is associated with decreased descendants’ income
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
Book notes: Virtuous bankers: a day in the life of the 18th-century Bank of England, by Anne L Murphy
A bottom-up account of how clerks managed operations and enhanced the BoE’s reputation
IMF chief urges China to adopt pro-market reforms
Comprehensive reforms could add $3.5 trillion to economy over next 15 years, Georgieva says
Book notes: The ruble: a political history, by Ekaterina Pravilova
Indispensable reading for anyone interested in Russia and comparative, long-term historical accounts of monetary ideologies and practice
Escaping the structural liquidity trap
Investment needs to be subsidised not taxed if developed countries want to avoid inflation and financial crises, writes Andrew Smithers
The BoJ’s possible path to positive rates
Are market expectations about a spring shift from negative Japanese rates credible, asks Sayuri Shirai
Lower immigration affecting US household spending power
Low immigration has contributed to increased prices of consumer goods, argues Atlanta Fed
Sweden faces lower employment and labour force growth
Integration of foreign-born citizens is key to keep expanding labour force, says Riksbank research
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
Claudia Goldin wins Nobel Prize for economics
Economist uses history and data analysis to identify drivers of gender inequality
Iceland holds rates for first time in over two years
Inflation is rising, but MPC holds until new forecast comes in
Fed leaders split on whether further rate rise is needed
Leaders agree a soft landing is possible but not certain
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
BoJ leaders divided on wage growth and timing of tightening
July minutes show disagreement over when firms will raise wages
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
Book notes: My journeys in economic theory, by Edmund Phelps
Six decades of the Nobel Prize-winner’s thoughts – from micro-foundations of macro theory to the possibilities beyond working, saving and investing