Economics
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize
Researchers probe weakness in Italy’s core inflation
Labour and financial markets important influences on weaker inflation – Bank of Italy paper
Output gaps are significant cause of inflation – BIS paper
Researchers find evidence of flatter Phillips curve in advanced economies
Bank of Canada launches new communication initiative
Central bank hopes new publication will promote financial literacy among Canadians
Barkin calls for education to improve labour participation
Addressing disparities is one of the best opportunities to ensure US growth, Barkin says
Bundesbank paper looks at secondary markets’ role in bank runs
Adding secondary markets to model significantly alters possible equilibria, authors say
BoE reveals details of nowcasting approach
Central bank explains approach to generating timely estimates of global GDP
Uneven technology adoption behind low productivity and wage growth – RBA research
High-productivity firms are reducing prices and increasing profits rather than boosting salaries
Globalisation becomes more divisive as it advances – Dani Rodrik
Harvard economist says gains from trade may not outweigh redistributive problems
European banking and capital markets union would foster growth – Draghi
More integrated financial markets can contribute to higher productivity growth, says ECB president
Market power can explain financial market anomalies – BIS paper
Market power of intermediaries can explain behaviour of risk premiums, authors find
Market power, intangibles and risk premia behind low risk-free rates – paper
Brookings paper questions savings glut and technological slowdown hypotheses
IMF warns low-income countries about higher debt risks
Increased exposure to non-traditional lenders could increase rates and shorten maturities
Book notes: The other half of macroeconomics, by Richard Koo
Richard Koo’s latest book updates his work on balance sheet recessions
Technology shocks unbalance job market – paper
A technology shock that permanently raises productivity leads to unemployment, authors say
Denmark should avoid fiscal stimulus to preserve balanced recovery – central bank
Government should be ready to tighten public spending to prevent the economy from overheating
Juan José Echavarría on Colombia’s path to sounder monetary and economic policy
Colombian governor talks about policy efforts to promote stability, importance of independence and implications of Venezuelan economic collapse
Long-termism is necessary for a stable future – RBNZ’s Orr
Contemporary societies face challenges demanding focus on sustainable development, says governor
Automation of financial services poses problem for labour market
Central bankers fear labour market may not recover as quickly as during previous technological revolutions
Risk-adjusted model anticipates rate changes better – paper
Monetary policy forecasts perform better when adjusted to risk, authors say
Financial literacy differs greatly between countries – OeNB paper
Some differences are due to survey methods but others may reflect institutional factors, find researchers