Economics
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Central banks look to shockproof models in wake of Covid-19
Covid-19 caused many central bank models to break down. Economists are now testing new tools
Frequent recessions push up US unemployment rate – paper
Cleveland Fed research says two decades of growth would produce 3.6% unemployment
ECB paper analyses US home ownership
Labour market dynamics and rising house prices account for generational inequality, researcher says
BIS paper seeks to overcome flawed Chinese growth statistics
Authors use regional data to circumvent “flat” GDP time series
Latin American economies threatened by pandemic resurgence – IMF
Western hemisphere chief warns recovery is uneven and under threat
Fed small business survey paints grim picture
Most small businesses report revenue declines; many fear collapse without government aid
Epidemics cause delayed political unrest – IMF paper
Infectious disease outbreaks lead to upheaval after health crisis has passed, researchers say
IMF grants Tonga $10 million emergency loan
Fund’s Article IV report expresses concern about banking sector; predicts GDP contraction
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
Reserve Bank of Australia launches A$100bn in new QE
Australian central bank surprises analysts with easing measure, despite more hopeful macroeconomic forecast
Monetary unions might benefit from taxing external debt – DNB paper
Policy would reduce adverse effects of shocks to risk premia on sovereign debt, researchers find
More capital could increase lending during pandemic – paper
Philadelphia Fed research finds capital injections and lower requirements would both increase lending
Bank of Finland to focus on sustainable growth
Central bank also aims to create “world’s best” financial literacy programme
IMF staff lay ground for $1.8 billion loan to Costa Rica
Staff set terms for three-year loan as high debt and Covid-19 take toll
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
MAS explores need for domestic green taxonomy
Taxonomy could help steer capital towards the region’s green priorities, deputy governor says
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
Money market estimates vary significantly – Bundesbank paper
Policy-makers should be aware of widely differing research results
Research finds productivity impact from monetary policy
Paper sets out model of supply-side transmission channel, which can lead to flatter Phillips curve
Eurozone inflation remains stuck at -0.3%
Year-on-year inflation first fell into negative territory in August 2020
Design flaws in Covid relief package cost millions of jobs – Fed paper
Delay to paycheck protection programme had “very substantial” impact, economists argue