Economics
Philly Fed study shows growth in ‘buy now, pay later’ products
Users of deferred-payment schemes are generally people in financial difficulty, say authors
Pandemic inflation fuelled by food and energy prices – BoJ study
Inflation in Japan and US driven by similar product market shocks, research finds
RBI challenges IMF’s call for larger fiscal consolidation
Study argues bigger budget cuts not necessary if government focuses on development spending
Global house prices close to bottoming out, BIS stats show
Economists puzzle over absence of sharper correction
Inflation memories pass from parents to children – research
Fear of hyperinflation influences behaviour across generational divides
Bailey hints at possible outcome of Bernanke review
Bank of England may present range of scenarios around central forecast
Profit now key driver of inflation, BIS research finds
Recent surge in prices “fundamentally different” to that of the 1970s
Escaping the structural liquidity trap
Investment needs to be subsidised not taxed if developed countries want to avoid inflation and financial crises, writes Andrew Smithers
Ethnic minorities ‘more likely to be homeless in US’ – Fed study
Point-in-time data shows Black and Native American citizens disproportionately affected
‘Brace, brace’: quants say soft landing is unlikely
Investors should prepare for sticky inflation and volatile asset prices as central banks grapple with turning rates cycle
Non-defence R&D spending ‘boosts US productivity’
Dallas Fed researchers find causal link between public expenditure on civilian projects and GDP
Monetary tightening can reduce innovation, says RBA paper
Higher rates affect small Australian firms more than large ones, research finds
Racial wealth disparities in US ‘have accelerated post-Covid’
Research attributes gap to kinds of assets typically held by white, Black and Hispanic investors
Consumer prices in China fall at fastest pace since 2009
Central bank says it expects modest rebound
Hurdles to hiring migrants ‘jeopardise US tech start-ups’
Frictions caused by visa programme ‘protect unproductive firms’, says Atlanta Fed paper
China ‘gradually decreasing import dependence’
However, Fed research says reliance on export markets precludes any de-linking from global economy
ECB publishes wholesale credit markets survey
No tightening in terms for euro-denominated securities, central bank finds
Chinese growth likely to slow to 3.5% by 2028, says IMF
State officials reject institution’s findings, claiming economic trajectory is positive and risks manageable
US government-sponsored mortgage securities ‘amplify crises’
Paper says dynamic between lenders and Fannie Mae/Freddie Mac not conducive to financial stability
US rural economies are ‘main losers from employment trends’
Fed research says automation and globalisation have militated against job creation in remote areas
ECB paper examines household inflation differences
French and German consumer data shows heterogeneity is driven by product choice, research finds
BoJ policy-makers signal end to negative rates
Summary of meeting shows board members see higher chances of achieving virtuous wage-price spiral
Spike in oil prices ‘could boost South Korean economy’
BoK researchers say a rise driven by higher global economic activity might boost domestic growth