Economics
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
Morocco gets IMF loan to deal with environmental crisis
Drought is becoming major challenge to macroeconomic stability, official says
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Sarb deputy warns on growth prospects
Cassim says economy is “remarkable for the wrong reasons”
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Book notes: The illusion of control, by Jon Danielsson
Jon Danielsson’s book makes a compelling case for a serious rethink on financial crises and risk management
Book notes: Global discord, by Paul Tucker
A curious mix of a book, which attempts to think through how democracies should deal with the rise of Communist China
Malpass says debt relief critical for poor countries
World Bank president says world risks “disorderly default process”
Eurozone sovereign downgrades increased corporate risk – ECB paper
Ratings changes for “core” eurozone countries had largest effects on corporate bonds
Book notes: Mission economy, by Mariana Mazzucato
Although worth reading, the book doesn’t offer as many answers as it could when it comes to reimagining the capitalist system
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Book notes: The cost of free money, by Paola Subacchi
A book worth reading, as it facilitates further discussion on substantial issues, but doesn’t fully address some of the problems it takes aim at
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
US adds more than half a million jobs in October
Unemployment falls to 4.6% as labour market perks up again
Yellen warns of ‘catastrophic’ effects of not raising debt limit
Treasury secretary says failing to raise ceiling would be a “manufactured crisis”
Canada records surprise GDP decline
Second-quarter figures show 0.3% contraction, which may affect taper and monetary policy
Microfinance improves access to bank credit – Fed paper
Study finds Rwandan initiative built credit record and made bank loans more accessible
Central Bank of Argentina calls for investigation of IMF agreement
Fund granted South American economy over $57 billion in 2018, its largest-ever package
Rich countries must aid poor over Covid-19: Georgieva
IMF chief warns of future financial instability and calls for major aid flows to developing world
IMF to update debt sustainability framework
Reforms aim to improve framework’s predictive capacity and transparency, IMF says