Macroeconomics
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Pandemics can depress natural rates for multiple decades – SF Fed
Real wages tend to rise gradually for 30 years after pandemics, data stretching back to 1340s shows
Women affected more by job losses in US lockdown – Kansas Fed
Roughly 60% of job losses were to women in the first half of March, researchers find
Canadian governor sees ‘robust’ recovery in third quarter
Poloz says major shock to growth will probably be followed by “swift” recovery
Trump’s NAFTA replacement could harm car production – Dallas Fed research
Authors say Mexico could face biggest loss from USMCA deal
IMF urges countries to use fiscal firepower against Covid-19
“Do whatever it takes, but make sure to keep the receipts,” says IMF fiscal chief
IMF projects deepest recession since Great Depression
Global growth could contract by between -3% and -6% this year, a combined loss of output of $9 trillion for 2020 and 2021
BIS paper finds little evidence of ‘liquidity trap’
Monetary policy remains effective even very close to the lower bound, economists find
Kosovan central bank rolling out response to coronavirus shock
Governor Fehmi Mehmeti says economy is vulnerable but the central bank is taking action
Is the ESM the eurozone’s best weapon against Covid-19?
Eurobonds face economic and political hurdles, say former officials
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
East Asian economies face ‘profound’ impact from Covid-19 – World Bank
Report estimates growth could turn negative for the region in “lower-case” scenario
Covid-19 macro effects could last 40 years – research
Research from University of California says natural rate could take decades to return to normal
16% of US jobs in high-risk sectors – Brookings research
Researchers examine possible impact of coronavirus on US sectors and metropolitan areas
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
US health system likely to be overwhelmed – Minneapolis Fed paper
Policy-makers must support massive healthcare investment and severe social distancing – researcher
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
G7 leaders avoid committing to co-ordinated virus response
Central bankers and finance ministers “stand ready”; Carney says BoE has launched contingency measures
Too early to speculate on coronavirus impact – Fed vice-chair
Experts urge Americans to brace for “inevitable” spread of the virus in the US
US exporters hit by Trump’s import tariffs – Fed paper
Firms making 80% of US exports affected by tariffs on input goods, researchers find
US is still an attractive FDI destination – Fed paper
FDI slowdown in 2017–18 due to corporate restructuring and reversing debt flows, researcher argues