Macroeconomics
Monetary tightening can reduce innovation, says RBA paper
Higher rates affect small Australian firms more than large ones, research finds
BoE’s focus has shifted from tightening, says deputy governor
Inflation “moving in right direction” but trends still need to be monitored, Breeden says
Hurdles to hiring migrants ‘jeopardise US tech start-ups’
Frictions caused by visa programme ‘protect unproductive firms’, says Atlanta Fed paper
Bank of Thailand holds policy rate despite government pressure
Decision comes after prime minister called for cut
Chinese growth likely to slow to 3.5% by 2028, says IMF
State officials reject institution’s findings, claiming economic trajectory is positive and risks manageable
PBoC steps up funding for development projects
Central bank injects 150 billion yuan amid slew of government measures to bolster property sector
US rural economies are ‘main losers from employment trends’
Fed research says automation and globalisation have militated against job creation in remote areas
ECB paper examines household inflation differences
French and German consumer data shows heterogeneity is driven by product choice, research finds
DSGE models should include housing supply, ECB paper argues
Author says adding financial sector and new houses improves forecasting accuracy
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
Hong Kong court orders liquidation of Evergrande
Decision could lead to complex winding-up process for debt-laden Chinese developer
China’s central bank to set up new credit market department
Unit will be tasked with guiding banks’ lending support for key areas of finance
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system
Monetary policy affects insurers’ balance sheets, ECB paper finds
Eurozone insurance firms increase asset holdings and risk-taking if policy loosens, researchers say
BoK examines South Korea’s post-Covid jobs recovery
Research points to rebound in services and employees’ desire for greater work-life balance
Monetary policy transmission may have grown weaker – Dallas Fed
Research finds countries with slow and fast pass-through rates experience similar demand effects
Risks persist in China’s economy despite growth, analysts say
Property sector woes, youth unemployment and falling population all cited as long-term challenges
Bank of Italy paper examines within-firm estimation strategy
Credit interdependence means standard estimates of shocks’ effects are biased , authors find
Millions of South Korean workers face AI replacement – research
Workers with higher incomes and education are more at risk, Bank of Korea paper says
Monetary policy likely to be weak climate tool – Bank of Spain paper
Model finds central banks are likely to prioritise price stability over reducing carbon emissions
CBDCs are subject to ‘trilemma’, ECB paper warns
Research builds on Diamond-Dybvig model to examine possibility of runs on central banks
Borio and Zöllner to depart BIS in 2024
Hyun Song Shin and Luis Bengoechea will fill roles left by top economist and banker
Cash transfers cause persistent jobs boost in Brazil, research finds
San Fran Fed paper argues previous research neglected effects on informal employment