Economics
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
Lagarde calls on governments to prolong fiscal support
ECB president thinks 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
Estimating the cost of a pandemic grant for the world’s poorest economies
The cost of support measures for vulnerable economies is manageable, says Steve Kamin
BIS paper delves into new fintech database
Authors investigate rise of “big tech credit” in many economies
Bank of Canada sets out pandemic-adjusted CPI methodology
Pandemic triggered rapid shift in consumers’ spending habits
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say
Central banks are using biased estimates of pass-through – BIS paper
Standard measures exchange rate pass-through fail to account for market power, researcher argues
Modellers should not exclude pandemic-era data – ECB paper
Excluding pandemic data from time series would “vastly underestimate uncertainty”, authors argue