Economics
ADB provides $100 million in emergency loans to Mongolia
Funds will be used to expand government support for vulnerable households
How to run a world-class economics department
Central banks have myriad ways of organising their economists
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
Joseph Stiglitz calls for rethink of macroeconomics
DGSE models have “nothing to say” about economic effects of Covid-19 measures, Nobel winner says
Decision theory can guide climate modelling, Nobel laureate says
Lars Peter Hansen argues policy-makers need to pay more attention to uncertainty
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women
RBA sets up new panel of private-sector economists
Expert panel will meet at least twice a year; move follows “embarrassing” forecasting issues
Netherlands not facing wage-price spiral – DNB
Central bank says there is space to increase negotiated wages in the Dutch economy
Housing affordability dropping across the US
Fed’s large rate hikes and constrained housing supply create tough market for buyers
Long-term data can shed light on current inflation – NBER paper
Authors suggest first half of 20th century has clearer parallel to current inflation than 1970s
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
RBI’s Patra envisages India as ‘economic superpower’
India has chance to achieve “escape velocity” from emerging market status, deputy says
Firms use supply chains to predict inflation – IMF paper
Authors find expectation formation diverges from rational expectations hypothesis
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
Little risk of stagflation in Netherlands, says DNB
Wages are no longer inflation-linked and profits are higher, the Dutch central bank confirms.
US inflation: it’s mainly global
Steve Kamin analyses the pre-existing conditions that impacted inflation in the US and elsewhere
ECB paper examines equity markets’ treatment of climate risk
Researchers look at public perceptions, investors’ judgement and firms’ risk premia
Mismeasurement may cause ‘missing-investment puzzle’ – BoE’s Bailey
Rise in intangibles could explain apparent fall in investment despite stable returns, governor says
US experts believe inflation will fall, eventually
CPI inflation surges above consensus forecasts, but economists expect a turning point soon
Tanzania’s current account deficit more than doubles YoY
Deficit reached $3.7 billion in May, as country turns to IMF for support
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
US risks slipping back into secular stagnation, says Rajan
Fed has “good chance” of defeating inflation but US economy has deeper problems, economist says