Economics
Financial security of US households ‘fell sharply’ in 2022
Inflation comes first in list of financial worries, Fed survey finds
Bank of Italy expresses concerns over flat tax
Official says policy is typical of emerging markets and could weaken income redistribution
US household debt passes $17 trillion
Mortgage originations fall to lowest level since 2014
Steeper Phillips curve cannot fully explain inflation surge – IMF paper
Structural factors have led to some steepening but it is not the full story, authors say
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy, with more hard work ahead for central banks
NBER paper proposes ‘resurrecting’ non-linear Phillips curve
Original version of the curve is “strongly non-linear” and helps explain current inflation, authors say
Regnology cements regtech-suptech dominance with Metadata acquisition
Series of bank collapses underscores need for timely data on firms’ regulatory metrics
Extended QE creates pessimistic sentiment – Bank of Canada paper
News and social media “significantly” impact market sentiment, researchers say
What economists learned from Covid-19
A rush of work on ‘epi-macro’ yielded breakthroughs and then faded. Will there be lasting benefits?
Eurozone inflation rises to 7% in April
Core inflation declined to 5.6%, but energy prices grew again
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
BoE’s Broadbent denies money supply is driving inflation
Deputy governor says M4 growth neither driven by QE or particularly linked to inflation
Structural reforms could ‘unleash’ Indian growth – IMF paper
Study highlights shift in sources of productivity growth in India
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
ECB paper looks at borrower-based macro-pru limits
Households’ resilience and banks’ capital ratios improved by caps on borrowing
UK inflation still in double digits in March
Analysts think MPC likely to vote for at least one further rate increase
Immigration decline hurts growth and inflation prospects – Fed research
Dallas Fed VP says “absolutely” a link between low immigration and rising inflation
Curaçao and Sint Maarten’s governor praises IMF analysis tool
Island nations are in no hurry to adopt CBDC, Richard Doornbosch says
Weather affects eurozone inflation, ECB paper finds
Bloc’s four biggest economies respond differently to changes in temperature and variability
Kganyago calls for lower inflation target and tighter policy
Sarb governor urges reform of South Africa’s troubled transport and electricity sectors
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025