Economics
Economists must study ‘certainty shocks’ – Bundesbank paper
Policy-makers must distinguish between shocks which raise or lower certainty, researcher says
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
US health system likely to be overwhelmed – Minneapolis Fed paper
Policy-makers must support massive healthcare investment and severe social distancing – researcher
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
Bank of Spain paper looks at macro-pru and growth at risk
Financial cycle, time elapsed and type of measure has major impact on effectiveness – researcher
Covid-19 unleashes major market shock
Oil prices tumble, dragging down stock markets worldwide; sovereign bonds rally
Dutch economy more volatile than European peers – DNB research
Changes to pension system, mortgage markets and budgets could reduce volatility, paper argues
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
G7 leaders avoid committing to co-ordinated virus response
Central bankers and finance ministers “stand ready”; Carney says BoE has launched contingency measures
RBI economists build nowcast using dynamic factor model
Model closely tracks recent slowdown in activity, authors say
BoE announces new centralised data platform
UK central bank teams up with Autorek for two-phase project
Chinese spillovers may push global prices down- Finnish paper
Researchers find that Chinese economy has significant influence on global prices
Riksbank research looks at older workers in Sweden
More old people may remain in labour force due to changes in laws, researcher says
Bank of Mexico cuts growth outlook on virus fears
Central bank says future growth is highly uncertain after Mexican economy contracted in 2019
Too early to speculate on coronavirus impact – Fed vice-chair
Experts urge Americans to brace for “inevitable” spread of the virus in the US
Costa Rican central bank pulled into fiscal debate
Government split on how fiscal rule should be calculated as fiscal deficit continues upward trend
International investors shaping housing markets – DNB paper
External investment playing larger role but national differences still significant, paper says
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
US exporters hit by Trump’s import tariffs – Fed paper
Firms making 80% of US exports affected by tariffs on input goods, researchers find
Climate-related disclosures should be mandatory – RBNZ official
Assistant governor says firms should not be allowed to “cherry pick” what disclosures they make
Latin America must prepare for rapid ageing – Bank of Spain paper
Pensions spending set to rise sharply as potential growth falls, researchers warn
US is still an attractive FDI destination – Fed paper
FDI slowdown in 2017–18 due to corporate restructuring and reversing debt flows, researcher argues
MAS to allow financial data transfer to US
Data-sharing agreement could see personal data shared across borders, as data localisation inhibits supervisory processes