Macroeconomics
Trust in financial sector shapes long-term consumption patterns
General economic indicators, ‘animal spirits', and trust all explain ‘consumer sentiment crisis' stoked by the Great Recession, according to DNB working paper
NPLs hold back Serbian banks as economic imbalances remain, says central bank
National Bank of Serbia financial stability report warns change in the behavioural pattern of European banks; says Fed taper could bridle domestic credit and economic growth in the medium term
Temptation preferences can inform asset pricing, Fed researchers find
According to San Francisco Fed paper, self-control preferences have important implications for macroeconomic issues, such as social security reform, income tax reform and asset-pricing issues
Communicating uncertainty in economic forecasts
The way central banks and economists communicate uncertainty in macroeconomic forecasts differs around the world. Charles Manski contrasts the approaches of the Federal Reserve and Bank of England
New deputy governor takes office at RBI
Indian government appoints Urjit Patel to replace Subir Gokarn on the Reserve Bank of India’s governing board; management roles reallocated again
Boston Fed paper lauds survey data over rational assumptions for macro models
Research published by Federal Reserve Bank of Boston finds the performance of DSGE models is enhanced by introducing survey data on inflation, unemployment and interest rates
Bank of Finland’s Honkapohja gets second five-year term
Seppo Honkapohja reappointed for a second five-year term on the board of the Bank of Finland; only three board members of a possible six currently in office