Macroeconomics
Taking stock of Bernanke: the original sin of forecasting
Jagjit Chadha says the Bernanke review should be the start of more profound discussion at the BoE
Minimum reserves are stabilising force – Bank of Italy study
Paper compares different mechanisms and their utility in floor and corridor regimes
PBoC holds key rate
China’s central bank refrains from further stimulus amid weak yuan
Escaping the structural liquidity trap
Investment needs to be subsidised not taxed if developed countries want to avoid inflation and financial crises, writes Andrew Smithers
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