Economics
Bank of Canada exploring alternative inflation measures – governor
Canadians feeling prices rising despite CPI being negative for two months, deputy governor says
Covid-19 hampers inflation measurement – Riksbank’s Ohlsson
Too soon to say whether consumption changes during pandemic will become permanent, official says
Bernanke and Yellen join call for new fiscal stimulus in US
Former Fed chairs among 148 economists warning of “disastrous” effects if Congress fails to act
Chicago Fed breaks ties with economist over Black Lives Matter criticism
Comments ignite debate over racism in economics, and the Fed’s role in tackling inequality
Recession causes inequality ‘double whammy’ – research
Paper links loss of hours worked to inequality, with recessions causing a negative ratchet effect
High US inflation should not be ruled out
A prolonged health crisis raises the risk that hidden inflationary pressures could be stoked
UK GDP growth plunges to -20% in April
Figure is worst on record, but may be somewhat better than earlier official estimates
Bank of Israel investigates carbon pricing
NGFS says global economy needs “green recovery” from pandemic
Doyne Farmer’s next big adventure: capturing the universe
Complexity theorist plans to build an economic super-simulator on a global scale
US unemployment falls sharply in May
Unemployment rate declined to 13.3% from 14.7% in April, despite widespread fears it would rise
Bundesbank paper looks at effective lower bound
Modellers can use survey information to reduce impact of ELB on yield decompositions, author says
Phillips curve flatter when inflation is low – researchers
Downward wage and price rigidities cause non-linearity in Phillips curve, says Peterson Institute paper
US disinflation accelerated in April
Core inflation sees steepest drop since the 9/11 attacks
Banxico forecasts Mexican economy could fall by 8.8% in 2020
Central bank stresses profound uncertainty to which economy is subject
Record hiring needed to reach pre-crisis unemployment by end-2021 – paper
Hiring four times faster than most robust pace in Great Recession still not enough, researchers find
European Commission pushes for €750 billion budget expansion
Shared financial resources designed to support weakest EU members while spreading cost
US consumers expect more fiscal support – New York Fed survey
Consumers assigned a 40% chance of more federal welfare benefits in next 12 months
Eurozone approaching ECB’s worst-case scenario – Lagarde
Economy likely to shrink by over 10% in 2020, says ECB president
BoE paper: mining newspaper text can boost forecasts
Authors design “powerful new method” of incorporating text information into macroeconomic forecasts
Economists challenge standard notion of labour market recovery
Paper on post-crisis recoveries questions demand shortfall narrative
Covid-19 biggest threat to Fed mandate ‘in our lifetimes’ – Clarida
Fed may not provide further forward guidance until September, Richard Clarida says
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid coronavirus lockdown
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
Lower-income households feel worst of Covid-19 economic shock – Fed survey
Nearly 40% of low-earning households faced at least one job loss in March, survey finds