Macroeconomics
DNB paper examines robustness of monetary policy
Policy must avoid tail risks caused by central banks’ uncertainty over output gap, researchers argue
ECB paper examines largest currency areas’ policy spillovers
Researchers study how foreign monetary policy shocks affect US, eurozone and Japan
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
ECB paper analyses indirect channels of interbank contagion
Eurozone’s interbank market vulnerable to sovereign debt and non-bank sector shocks, research finds
Economics Benchmarks 2023 – model banks analysis
Data reveals differences in research, forecasting and data use across central banks
Economics Benchmarks 2023 report – tentative steps on AI
The benchmarks show some small steps to increase AI use, and shed light on broader reforms to modelling, governance and more
ECB paper attempts to measure spillovers from Fed policy
Authors use asset price data to estimate global effects of FOMC moves
High income central banks allocate most time to research
Research economists are more numerous and are allotted more research time in high income jurisdictions
ECB paper analyses impact of Chinese financial shocks
“China shocks” affect global commodities and equities, but less than US equivalents, researchers find
UK inflation falls more than BoE had expected
Housing prices fall year on year for first time since 2012, while energy prices also decline
CBDCs could challenge foundations of monetary economics, says Tombini
BIS Americas chief thinks digital currencies could co-exist with other rapid payment systems
People: New governor in Sierra Leone
Brazilian president nominates two new central bank directors; new head of statistics at ECB; and more
China boosts support for economy with new debt issuance
The central government will issue one trillion yuan in bonds in the fourth quarter
Corporate pandemic cash buffer is running low, finds research
The impact of monetary policy could grow as companies’ cash dwindles, Boston Fed paper says
UK researchers propose 3% inflation target and negative rates
Inflation stalls at 6.7% in September, the same figure as in August
BoE should ‘step up’ data analysis, review says
Independent Evaluation Office urges central bank to embrace cloud and explore AI
China SWF buying bank shares on Shanghai exchange
Central Huijin was created in 2003 to address domestic banking crisis
BoE to conduct ‘desk-based stress test’ for 2024
Financial policy committee warns of some risks in UK corporate and household finance
Canadian deputy governor warns of repeating pricing pressures
Vincent argues supply shocks, technology and consolidation may make raising prices easier
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
BoE publishes terms of reference for Bernanke review
Former Fed chair to provide insights into how to forecast in “significant uncertainty”
OECD says interest rates should stay high ‘until well into 2024’
Report says monetary policy needs to stay tight until underlying inflationary pressures are lowered
FOMC members’ narratives add value to projections, finds paper
Both staff and FOMC members 'projections aid forecasting, refuting Romer and Romer
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth