Economics
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
Unemployment set to rise to 8% in 2022 – Irish central bank
Bottlenecks in the jobs market may delay employment’s return to pre-pandemic levels
Newspaper text can improve growth forecasts – DNB research
Sentiment index can cut errors in short-term forecasts, study finds
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes
Barkin concerned over pandemic ‘scarring’
Richmond Fed chief says disruptions imperil access to jobs and economic growth
Book notes: Economic philosophies, by Alessandro Roselli
Roselli’s analytical and historical exploration is especially valuable now, writes Robert Pringle
Funds’ synthetic leverage should be monitored – Bundesbank paper
Researcher presents new method for assessing one type of risk-taking by mutual funds
Bundesbank paper looks at German inflation expectations
Social media forms less realistic picture of current price levels than traditional news – researchers
Firms and consumers form expectations differently – Irish paper
Confidence leads eurozone firms to expect higher inflation, but consumers to expect lower, says research
Eurozone inflation remains stable
Official figures show inflation at 0.9%, unchanged from January
Fed paper finds ways to boost forecast performance
Adding extra information can help make forecasts more accurate and robust, authors say
Expectations play key role in policy transmission – BoE paper
Authors use high-frequency data to assess importance of term premia and expectations
Big data in central banks 2020–21 report: shifting to centre stage
Data governance appears to be improving and central banks are embracing cloud technology
BoE paper outlines new theory of automation and inequality
Authors highlight “new theoretical mechanism” linking automation to higher wealth inequality
Economics profession has a culture problem – Yellen
Former Fed chair says there is an implicit bias against women in economics
Data-driven policy-making for central banks focus report 2021
In this report, Central Banking discusses why data is so crucial for central banks to make effective policy decisions and why current traditional indicators that are no longer fit for purpose. The pandemic has highlighted the need for an overhaul of data…
Paper models link between policy uncertainty and growth
Bank of Luxembourg paper looks at how investors adjust their estimates of monetary policy
The untapped potential of transaction data
Covid-19 has highlighted the need for central banks to have more timely information, questioning whether high-frequency indicators are being used to their full potential.
Paper examines US pensions’ effects on natural rate
Welfare effects of possible reforms depends on productivity growth, Bank of Italy paper finds
Richmond Fed’s Barkin calls for more vocational training
Tom Barkin says US infrastructure workforce depleted; advocates more immigration
BoE’s Haldane warns against ‘complacency’ on inflation
Chief economist says uncertainty is high but risks are “skewed to the upside”
Bank of Spain paper analyses regulations’ complexity
Researchers present new method for linguistic and structural assessment of regulations
RBI’s Das: pandemic improved India’s external balance
Boom in software business helped shore up current account and boost RBI reserves, governor says