Economics
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
ECB paper presents new measure for global financial cycle
Researchers say global financial cycle and large capital flow episodes show consistent links
Eurozone bond purchases work as stabilisation tool – BoI paper
Researchers simulate effectiveness of sovereign bond purchases against both real and financial shocks
Global climate cycles create varied growth challenges – paper
Changing climate has different impact on growth depending on country’s normal climate, researchers find
T&T governor calls for productivity reforms
Alvin Hilaire says improvement still required despite recent increase in productivity
Global house price growth slows, but China still surging
BIS figures show broad slowdown in growth, though prices are still rising fast in some places
Home-ownership affected by culture, Bundesbank paper finds
Researchers find strong variation in home-owning by different US immigrant groups
Legal reforms drive growth for middle-income states – research
Growth in financial sectors does not mean increase in economic growth - Bank of Spain paper
Interest-bearing CBDCs could solve welfare trade-off – IMF paper
Making CBDCs interest-bearing would avoid dangers to cash use or bank deposits
Emerging markets face growing debt risk – IMF paper
One-third of emerging market debt over-valued as low-income countries set to issue more
US growth trend could fall for the next 10 years, SF Fed paper warns
Productivity slowdown in construction has contributed 30% of slowdown since 1950s, researchers find
US-China trade deal could damage some countries’ trade flows – IMF paper
Eurozone could face loss of trade from between $61 billion to $84 billion, researchers find
Swedish paper investigates weak wage growth
Labour shortages may be lower than previously thought, researchers argue
Dominican Republic faces monetary policy trade-off – IMF paper
Researchers say financial system is healthy, but central bank faces hard choices over policy
Research proposes ‘Monk’ model of long-term monetary transmission
Equilibrium in standard models only affected by short rates, say Garriga, Kydland and Šustek
SBP looks back on tough year for Pakistan
Lack of fiscal consolidation hampered central bank’s crisis response, annual report says
Trump’s trade war is squeezing US profits – IMF paper
Retailers kept prices unchanged and exporters cut theirs, Gita Gopinath and co-authors find
Central banks increasingly embracing the cloud
Forms of cloud computing are becoming more prevalent, despite central banks’ caution
Big data in central banks: 2019 survey results
Many central banks are overhauling their data governance, which has facilitated a broadening in their use of big data. They are also turning to external specialists for help
Philly Fed paper studies impact of Argentina's default on firms
Firms would benefit from mechanisms to ease switching lenders, researchers find
Global credit to non-banks growing faster in Q2 – BIS figures
Latest global liquidity figures show rapid growth in lending to the non-bank sector
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics