Economics
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.
Market structure affects monetary neutrality – paper
Minneapolis Fed research finds oligopoly undermines the neutrality of money, amplifying the real impact of monetary shocks
Xi faces macroeconomic dilemma after China’s party congress
The Chinese premier will have to work hard to avoid a 'Minsky moment', says Hui Feng
Text mining reveals differences in PRA approach
Researchers compare Prudential Regulation Authority’s communications to its predecessor using a machine-learning algorithm
Zimbabwe back in hyperinflation, say Hanke and Bostrom
The economists estimate that Zimbabwe’s monthly inflation rate is now above 100%
Teaching machines to do monetary policy
Machine learning may not yet be at the stage where central bankers are being replaced with robots, but the field is bringing powerful tools to bear on big economic questions
Low inflation partly down to luck – CEPR report
David Miles and co-authors argue advanced economies’ luck on inflation could run out; recommend central banks prepare
BoE paper studies interest rates across eight centuries
In July 2016, the global risk-free rate hit its lowest level since at least 1273, according to a new extra-long-term dataset
Interview: Edward Prescott
The Nobel Prize-winner speaks to Daniel Hinge about time inconsistency and real business cycle theory, and explains why there is no ‘productivity puzzle’
Paper highlights disparity in which fields of economics women enter
New York Fed study examines female participation rates in economics through conference case study, suggesting there may be barriers for women entering finance
Communication technology helps explain productivity puzzle – Fed paper
Properly accounting for ICT services produces “very large” boost to US labour productivity figures, authors say
Cross-border credit slips back into contraction
Latest BIS statistics show rebound of cross-border claims was temporary; China bucks trend with rapid growth of inward credit
SBP notes caveats to decade-high growth
Expansion of Pakistan’s economy continued in fiscal 2017, although the central bank is concerned about a widening current account deficit
OECD urges UK to maintain ‘close ties’ with EU
Latest assessment of UK economy warns of damaging impact of Brexit vote; Ángel Gurría says close future relationship “absolutely key”
Blanchard and Summers call for rethink of stabilisation policy
Both economists question consensus on fiscal prudence and advocate stricter financial regulation
IMF cautions global vulnerabilities put growth at risk
Fund calls central banks to provide needed monetary support while tackling underlying threats
Stressed banks may hamper deleveraging in eurozone periphery – ECB paper
Researchers use data on more than 400,000 companies and 900 banks from seven eurozone countries
Bank of Canada paper studies capital control motivations
Researcher designs policy rule to study whether capital controls are imposed with “mercantilist” or “macro-prudential” motivations