Economics
Malaysia’s central bank to launch climate taxonomy in 2021
Information asymmetry among financial firms is hampering green lending, assistant governor says
Lagarde and Weidmann clash over EU recovery fund
ECB president wants it to become a permanent fiscal tool, Bundesbank president thinks it should remain a one-off
Fed’s Covid-19 response drove euro’s appreciation – ECB paper
Effects of QE on exchange rates are comparable to conventional monetary policies, researchers find
Bank of Spain sets out research priorities for 2020–24
Central bank will focus on long-term trends including climate change, digitalisation, ageing and more
Information drives transatlantic policy spillovers – ECB paper
Tighter ECB policy often causes financial easing in US due to “information effect”, researcher argues
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Spanish governor in favour of extending support to non-financial firms
Hernández de Cos favours grants and equity injections over debt issuance
Central bank refinancing greatly lowers banking risk – ECB paper
Paper uses data on post-crisis eurozone to calculate effects of refinancing rate on risks facing banks
IMF warns of permanent economic damage from Covid-19
Pandemic could pitch 90 million people back into extreme poverty, fund says in new economic outlook
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
Lagarde calls on governments to prolong fiscal support
ECB president thinks regulatory, investment and education measures are needed to boost post-pandemic recovery
Milgrom and Wilson share economics Nobel Prize
Auction theorists win this year’s prize for discoveries “of great benefit to society”
Austrian paper estimates effects of European helicopter money
Researchers use data on likely consumption of windfall income from survey of 17 European countries
Machine learning algorithms could increase ethnic bias – research
Technology makes loans more likely for US ethnic minorities but increases interest rates, paper finds
Bank of Finland research looks at ECB’s effects on eurozone equities
Researcher says eurozone monetary easing has raised eurozone equities’ expected risk premia
Sticky prices play key role in monetary policy responses – ECB paper
Author finds different US industries’ react very differently to monetary policy decisions
Bank Indonesia and PBoC sign currency agreement
Move follows Indonesian central bank accords with Japan, Malaysia and Thailand
Eurozone unemployment hits 8.1% in August
Statistics agency warns figures could be underplaying pandemic’s economic impact
‘Combination’ forecasts can beat standard methods – RBI paper
Traditional inflation-output relationship seems “broken”, authors say
Fed’s Quarles ‘optimistic’ on economic outlook
Second wave of Covid-19 cases should be more manageable than the first, Fed vice-chair says