Emerging markets
Book notes: The political economy of bank regulation in developing countries, edited by Emily Jones
A pioneering academic – but reader-friendly – monograph on the response of peripheral countries to Basel standards
IMF climate dashboard reveals pattern of vulnerabilities
Data ranges from frequency of natural disasters to carbon intensity of lending
BIS launches database on Covid-19 monetary policy actions
Data designed to help researchers study “massive” policy response to pandemic
IMF adjusts growth forecasts upward
Fund warns of uneven and unequal recovery, but is more optimistic than it was in October
Higher debt likely to expose EMs to stress – Brazil’s governor
Roberto Campos Neto argues Brazil’s higher inflation is due to temporary shocks
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the authority, integrity and independence of the Bank of Mexico against significant external and internal pressures
How valuable is a PhD economist?
Heads of research from Canada, Israel and North Macedonia weigh the benefits of advanced economics education – and the challenge of retaining top staff
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
Measuring the exceptional speed and scope of Covid-19 monetary policy
Policy actions during the first wave of the pandemic were extraordinary for their intensity, scope and speed. Other patterns also emerge on closer inspection
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
Economics Benchmarks 2020 report – executive summary
Shedding light on economics governance, salaries, forecasting, research, publications and more
Terms of trade shocks not symmetric – BoE paper
Developing countries particularly vulnerable to export shocks, study finds
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
BIS warns of gap between cautious banks and buoyant markets
Report says exuberant market conditions may belie underlying risks
Few central banks collaborate with private-sector researchers
Collaborations are common with academia, especially in advanced economies
Agent-based models remain rare among economics departments
Economics Benchmarks 2020 highlights the varied applications of different model types at central banks
Forecast errors marginally higher for growth than inflation
Data shows contrast between advanced and emerging economies
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
BIS paper pins down causal impact of capital flows
Study based on confidential BIS data finds capital controls can help prevent overheating
Maggiori, Neiman and Schreger on capital flows and Covid-19
The Global Capital Allocation Project sheds light on where vulnerabilities may lie