Economics
Agent-based models: a new frontier for macroeconomics?
Agent-based modelling is still struggling to move from sidelines to mainstream
BoE paper highlights flaws in bank modelling
Many models still treat banks as “warehouses”, authors say, with important modelling implications
Populist policies can wreck economies, Sarb governor warns
South Africa needs economic stability, Kganyago says
Eurozone wage rigidity largely persisted in great recession – Finnish paper
Frequency of wage changes fell in recession in many countries, researchers find
Africa at risk from faster policy normalisation – Kenya’s Nyaoga
Higher interest rates could threaten portfolio inflows for a region struggling with price rises
ECB paper presents new sovereign stress model
New method builds on earlier CISS model to measure systemic stress in eurozone
Podcast: Arthur Turrell on agent-based modelling
The Bank of England economist says ABMs should complement, not replace, other models
Former Fed chair laments US disarray
“How can you run a democracy when nobody believes in the leadership of the country?”, Paul Volcker asks
Unconventional policy is best response to financial shocks – ECB paper
Non-standard measures shield borrowers from unwarranted lending rate rises, researchers say
US regulatory sanctions lead to banks cutting credit costs – Finnish paper
Sanctioned banks cut loan costs by 22bp on average, researchers find
Fed’s QE programme changed US corporate financing – BdF paper
Conventional monetary policy and QE have very different transmission mechanisms – researchers
Tunisia’s El Abassi on central banking during a regional security crisis
Central Bank of Tunisia governor talks about capacity building, fintech and relations with the IMF
Dominican Republic leading Caribbean growth
The economy has continued to expand above its potential since January
Mexico’s Guzmán worried about protectionism
Difficult to understand why given the experience during the Great Depression, the governor said
Chinese governor stresses trade risks at IMF meeting
Yi Gang says protectionism has already damaged global business confidence
Asia outlook positive despite growing risks, IMF reports
Sound policymaking should protect Asia’s prospects for staying at the forefront of global growth, IMF says
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
Haldane examines ‘puzzling pattern’ of weak wage growth
Average weekly wages are now lower than before the crisis, in real terms
IMF cuts global growth forecasts
Likelihood of further negative shocks has risen, warns Maurice Obstfeld
Prudential regulation subject to ‘leakages’ – BIS paper
Net effect of tighter prudential regulation is positive for economic growth, paper finds
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize