Economics
Housing inequality creates credit inequality – NY Fed’s Hirtle
Older people with less need of credit have seen the value of their collateral rise more
IMF releases world’s most comprehensive debt database
Data covers 190 countries and a wide range of instruments; Kenneth Rogoff calls the new database “really stunning”
ECB stresses protectionist risks in economic bulletin
US administration announced plans to impose tariffs on steel and aluminium in March
Researchers propose new method of measuring Chinese inflation
Bank of Finland paper says many current measures under-weight food and energy prices
Sovereign debt crisis caused European firms to cut wages – DNB paper
Researchers say credit stress causes firms to reduce variable parts of wages
RBA paper finds elusive interest rate-investment link
Authors present empirical evidence for inverse relationship between rates and investment
Global factor influences inflation volatility, Italian paper says
Researchers say inflation volatility correlates to oil inflation rates and Chinese producer prices
Atlanta’s Bostic concerned by ‘proliferation of models’
Regional Fed chief says more needs to be done to understand how machine-learning algos could contribute to a major shock
Government spending can have low multipliers at ZLB – Bank of Italy paper
Model’s results are in line with recent empirical evidence, researchers say
ECB’s sovereign bond purchases may increase volatility, DNB paper says
Researchers say their findings could have important lessons for “tapering” programmes
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
IMF unveils first vintage of macro-prudential data
Database is the first global source of information on macro-prudential institutions, indicating an overall tightening in policy in 2016
High-frequency data could improve GDP estimates – RBI researchers
Initial data releases tend to be revised upwards, the authors find
Haldane envisages ‘iterative’ approach to advancing economics
Deductive and inductive approaches “need to share a broadly equal billing”, BoE chief economist says, setting out how the central bank has made use of big data
Emerging markets still taking on dollar debts, BIS data shows
Rapid growth in credit to emerging markets echoed by broader rises in global liquidity
Party politics may influence German banks’ bond holdings, ECB paper finds
Researchers examine effects of local elections on decisions by local savings banks
Bundesbank paper asks ‘how far can we forecast?’
Statistical tests imply forecasts typically become uninformative after just a few quarters
Liquidity build-ups may cause emerging market instability – Bundesbank paper
Bundesbank paper examines effects of advanced economies’ liquidity on emerging economies
Bank of Lithuania improves data accessibility in new website
Redesign offers videos and infographics to explain key policies; audience has increased by 10%
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power
Swedish paper examines effects of business cycles on employment
Volatile business cycles cut the number of new jobs and employment, Riksbank paper says; analysis uses labour market search model to track effects
Claims on offshore centres at record high – BIS data
Overall cross-border claims “gained momentum” in Q4 2017
BoE paper investigates uncertainty around elections
Elections help to isolate macroeconomic and financial uncertainty, author argues