Economics
Haldane outlines ‘interdisciplinary’ economics model
Andy Haldane and Arthur Turrell describe a way of broadening the scope of economics’ limited array of core models
Globally active banks have made 'major changes' to funding mix – Spanish paper
Banks used funding from cross-border subsidiaries more after 2007, researchers say
Bank of Mexico cuts growth forecasts for 2017 due to earthquakes
Renegotiation of Nafta is main downside risk for economy, outgoing governor Carstens says
More work needed on supply channel of finance – BIS paper
Demand-side links between the financial and real sectors are better understood, say authors
NY Fed economists reveal big-data approach to nowcasting
Paper sets out the New York Fed’s model for producing early estimates of major indicators
Eurozone excess liquidity focused on five states – ECB paper
Funding stress no longer drives the concentration of holdings, say researchers
Low productivity might not be weighing on real rates – research
Long-run correlations imply there is little reason to believe low productivity is associated with low rates, Cleveland Fed economist finds
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
Central banks should combine monetary rules to achieve objectives – research
Estimates based on different models should be updated regularly, authors say
Austrian paper takes detailed look at regulatory integration within EU
Researcher uses “bilateral nature” of EU reforms to help gauge effects
Big data in central banks focus report 2017
The second Central Banking Journal focus report on big data expands on the original study from 2016, assessing how challenges have evolved in the past year.
The rapid evolution of data
As big data enters the mainstream, it is critical to understand how it can transform our thinking, but also to be realistic about its shortcomings and biases
BIS paper studies how weak banks beget zombie firms
Weak banks have a tendency to misallocate capital, authors find, though the effect is only important in the long run, in contrast to earlier studies
NY Fed paper estimates US contagion risks
Authors design a network model incorporating non-banks to estimate how the risk of a “default cascade” has changed over time
AI adoption lag could explain productivity shortfall – research
Erik Brynjolfsson, Daniel Rock and Chad Syverson argue the productivity slowdown is not as surprising as it may seem, and there are reasons to be hopeful
Korea suffering from ‘missing inflation’ – deputy governor
Core inflation is still in the mid-1% range despite economic improvement
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.
Bank of Spain warns Catalan crisis may cut growth by 60%
Uncertainty could imperil Spain’s recovery and reduce growth by 2.5% of GDP until late 2019
Big data in central banks: 2017 survey
As an active area for new projects, big data is becoming a fixture in policymaking, with an increasing number of central banks carving out a budget for data handling, writes Emma Glass.
Collaboration is key to central banks making the most of data
As data becomes increasingly significant for central banks, working with the right people and employing the right approaches is central to meeting objectives, says Maciej Piechocki of BearingPoint.
European firms’ net debt cramped investment, Bank of Italy paper finds
Paper looks at eurozone and UK firms from 2006 to 2012
Tapping into big data’s potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.
Irish economy significantly affected by shocks from UK, researchers say
Falls in UK growth and depreciation of pound have “sizeable” impact on Ireland, paper says
Sponsored forum: Tapping into big data's potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.