Macroeconomics
Asymmetric inflation targets improve welfare – Chicago Fed paper
Fed can remove deflationary bias by adopting asymmetric target, model suggests
Yellen condemns ‘unacceptable’ treatment of female and minority economists
Former Fed chair says more needs to be done to tackle discrimination in the profession
IMF research flags urgent need for climate policy framework
Co-ordination of fiscal, financial and monetary instruments will be needed, say authors
Argentine governor demands political consensus on macroeconomic framework
Sandleris says every election unleashes market volatility and disrupts stabilisation efforts
Economists publish ‘crash course’ on euro crisis
Brunnermeier and Reis say framework is designed to help students grasp the macro-financial roots of recent crises
Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
Economists say they hope for revolutionary thinking at Jackson Hole conference – “but we are not holding our breath”
FOMC divided over July cut, minutes show
Some FOMC members worried by effect of rate cut on US financial stability
Anticipation of fiscal stimulus has ‘sizeable’ impact on growth – paper
Passing the 2018 US Bipartisan Budget Act increased GDP by 1%, researchers find
Inflation target uncertainty magnifies price shocks’ impact- BoI paper
Researchers investigate effects of central banks failing to pefectly follow targets
Shale oil boom has not shifted global supply- ECB paper
Global oil supply appears to be “rather vertical” at all times, researchers find
‘Animal spirits’ are real, DNB paper says
Researchers analyse data on household spending and consumer confidence
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
ECB paper models eurozone’s vulnerabilities
Model can be used to predict build-up of major macroeconomic imbalances, researchers say
Institutional approaches are key factor in mortgage defaults – BoE paper
European countries show major differences in mortgage default factors, researchers find
Eritrean authorities must restore central bank independence – IMF
Macroeconomic situation is “dire” and financial sector needs restoring, IMF says
Policy uncertainty can magnify cost shocks – BoI paper
Lack of clarity over inflation targets increases effects of cost-push shocks on output, researchers say
Unexpected market news weakens fund liquidity – paper
Findings important for understanding systemic risk of firms during times of stress, researchers say
Macro-prudential analysis is not fit for task – leading economists
Carney and Honohan warn of fund failures and Hélène Rey calls for better risk indicators
BIS papers weigh up ongoing risks to global stability
Papers from 2018 AGM include contributions from Forbes, Tucker, Gourinchas and Rey
Carney sees storm clouds gathering over global economy
The “portents are worrying”, BoE governor says, but worst of the impact may pass UK by
Spanish and Italian labour markets still slack – ECB paper
Researchers use "Beveridge curve" to gauge efficiency of eurozone labour markets
Bundesbank paper presents new model of banks’ risk-taking
Traditional models make error in assuming that banks choose fixed-size portfolios, authors argue
Akerlof warns economics is biased against methods seen as ‘soft’
Nobel prize-winner says bias leads to “sins of omission” in economic research