Economics
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
Official institutions lead the Covid‑19 recovery charge
Tested by the Covid-19 pandemic, market consensus is that official institutions have been instrumental in mitigating market disruption. As economies work out how to adapt to a post-lockdown world, major public bodies are likely to play a key role in the…
IMF takes new steps to support weaker countries
Fund approves immediate debt relief for 25 countries; offers Ghana $1 billion to fight Covid-19
Rates have been falling for eight centuries – BoE research
Study casts doubt on major theories, including secular stagnation
Machine learning can produce better credit scores – BIS paper
Fintech firms may be better at predicting default rates, researchers find
Macroeconomics is not broken
The discipline has moved beyond the neoclassical synthesis. Critics should too
Research proposes ‘Monk’ model of long-term monetary transmission
Equilibrium in standard models only affected by short rates, say Garriga, Kydland and Šustek
SBP looks back on tough year for Pakistan
Lack of fiscal consolidation hampered central bank’s crisis response, annual report says
Central banks increasingly embracing the cloud
Forms of cloud computing are becoming more prevalent, despite central banks’ caution
Big data in central banks: 2019 survey results
Many central banks are overhauling their data governance, facilitating a broadening in their use of big data
Global credit to non-banks growing faster in Q2 – BIS figures
Latest global liquidity figures show rapid growth in lending to the non-bank sector
New IMF data sheds light on interwar instability
Instrument-level data highlights how the network structure of debts contributed to collapse
Cross-border claims growing at fastest rate since crisis – BIS
Non-banks continue to see the fastest growth, latest international banking data shows
Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
Economists say they hope for revolutionary thinking at Jackson Hole conference
Bundesbank sees risk of recession in Q3
Economic report paints bleak picture as eurozone inflation continues slide
Government assets are just as important as deficits – IMF research
Borrowing costs are determined by structure of public assets
Proposal to axe Phillips curve triggers controversy
“One cannot just ignore an equation,” retorts Olivier Blanchard
Surge in cross-border credit led by non-banks
Cross-border claims rise at fastest rate since the global crisis, BIS figures show
Ethiopia needs to rebalance after investment boom – IMF Africa chief
Country has achieved impressive development but vulnerabilities have grown, says Abebe Aemro Selassie
BoE paper questions technological explanations for falling ‘labour share’
Measurement problems may account for less income seeming to flow to workers, authors say
NBER paper outlines ‘four-equation model’
Authors expand the textbook three-equation model to account for unconventional policy
BIS paper looks at low returns on safe assets
Changing risk perceptions explain growing wedge between safe and risky assets, authors say
Local policy impact can be dispersed in currency unions – Bank of Spain research
Study analyses effect of large post-crisis fiscal stimulus implemented in Spain
‘Heterogeneous beliefs’ can improve models of inflation – BoE paper
Authors break down inflation expectations in search of additional forward-looking information