Economics
Central bank independence key to Ecuador programme – IMF
Fund is expected to sign off on first review of extended fund facility in June, providing $250 million
Venezuela’s central bank finally admits economic collapse
First official data release since 2015 says GDP fell by 22.5% in the year to the third quarter of 2018
BoE’s Ramsden highlights unusual patterns of investment and hiring
Weak investment in capital could exacerbate UK’s productivity woes, deputy says
Why two degrees matters to central banks
Ulrich Volz explores why strong leadership is required from central banks and supervisors to ensure the financial sector will be in a position to weather climate risks.
Bank of Spain calls for reform of pensions system
Governor sees need for national consensus to secure sustainability of current system
BoE’s Broadbent: constant Brexit delays are hurting investment
Deputy governor blames “repeated series of cliff edges” for poor UK investment
Local shocks may outweigh global factors for EMEs – ECB paper
US monetary shocks less important than much recent literature argues, researchers say
BIS paper models dollar’s debt dominance
“Debt view” of dollar dominance has empirical support, authors say
Cambodian central bank voices concerns over possible Chinese spillovers
Central bank fears a sharp drop in property market could trigger financial system risks
RBNZ paper hunts cause of flattening Phillips curve
Paper explores trend of declining relationship between inflation and economic activity
Bank of Italy paper looks at impact of long-term rates
Long-term rates have significant impact on Italian banks’ risk appetite, researchers find
Weidmann warns trade war likely to hurt US more than Germany
Bundesbank president says policy normalisation should continue
El Salvador central bank launches statistics app
Central bank says app designed to improve accessibility of economic data
Trade protection leads to recessions in the long run – Bank of Canada researcher
Some policies can provide temporary booms in the short run, Yuko Imura finds
Strong dollar is weighing on trade – BIS’s Shin
Advanced-economy monetary policy may have made the problem worse, he says
Cooling economic activity in China paves way for more stimulus
Policy-makers may turn to fiscal stimulus rather than monetary easing
Changes in uncertainty can affect US long-term rates – ECB paper
Researchers say “uncertainty shocks” may account for about one-half of long-run rate changes
IMF staff strike deal for $6 billion Pakistan bailout
Mission chief says central bank should focus on inflation control and exchange rate flexibility
Joint project unveils dataset stretching back to 1086
BoE and statistics agencies publish vast collection of historical data
Market power is a ‘puzzle’, BoE team says
Micro and macro evidence do not seem to match up, the authors say
Macro-prudential and monetary policy work well together – ECB paper
Monetary policy can be used to cushion shocks caused by counter-cyclical buffers, researchers find
The BoE’s education outreach programme
The Bank of England launched econoME last year to bring a practical understanding of economics to the classroom. Its aim is to make policy-making more effective in the future. It plans to extend its offering to schools by designing materials for younger…