Economics
BIS statistics: OTC derivatives market value back to 2019 levels
Gross market values have fallen about a fifth since second half of 2020
‘Bullwhip effects’ worsening supply problems – BIS bulletin
Direct inflationary impact likely to be limited, but “sustained pressures” are possible, economists say
US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
New York Fed opens new research centre
Marco Del Negro will lead work on research methods and issues in macroeconomics
GDP-linked bonds unlikely to ‘tame debt’ – BdF paper
Linking sovereign bonds to GDP would not necessarily improve debt ratios, researchers find
US adds more than half a million jobs in October
Unemployment falls to 4.6% as labour market perks up again
NGFS’s climate stress tests bolstered by new macroeconomic modelling
NiGem model will help central banks better understand economic transmission channels
Bank of Israel calls on divided parliament to pass budget
Central bank stresses it includes key investments to boost productivity and growth
Eurozone inflation expected to hit 4.1% in October
Figure would be joint highest reading since the single currency was introduced
Fed board member says US community banks under threat
Michelle Bowman says smaller community institutions play vital role for ethnic minorities
Biden stimulus will cause small, short price spike, says paper
San Francisco Fed predicts American Rescue Plan will boost inflation by 0.3%
Forecaster surveys improve eurozone inflation modelling – ECB paper
Households’ and firms’ expectations do not provide useful data on inflation
Delta variant had smaller impact on US consumer spending
Cleveland Fed finds weaker or no link between hospitalisation and spending in 2021
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
US CPI inflation rises to 5.4%
Prices continue upward climb, but policy-makers still see pressures as temporary
IMF: growth prospects dim as pandemic lingers
Fund revises down growth forecasts, warning of inflation, disruption and divergence
Cubero calls for expanded IMF role
Costa Rica governor endorses Resilience and Stability Trust proposal
Unemployment falls across North America
US recovery is weaker than expected, while Canada reaches pre-pandemic jobs levels
Empirical economists win Nobel Prize
Card, Angrist and Imbens share prize for work on labour markets and causality
BIS paper outlines model of managed floats
Framework captures financial frictions while being simpler than other models, authors say