Economics
ECB research flags signs of Spanish decoupling
Recent recessions appear to have caused Spain’s economy to diverge from those of other major eurozone countries, working paper warns
Croatian governor: Europe has a way to go with structural reforms
Boris Vujčić points to benefits of greater labour market flexibility and easier equity financing at IIF conference; Hungarian council member stresses need for productivity growth
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
Chatham House paper tries to quantify Syrian economic breakdown
Devastation from war, displacement of millions and oil and gas production falling into the hands of Isis and Kurdish forces have combined to create economic disaster
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey
German inequality would fall with US-style home ownership, Bundesbank study shows
Discussion paper fits US home ownership structure to German economy, finding large changes in the distribution and median level of wealth
Eurozone recovery set to broaden, says ECB bulletin
Report presents growing body of good news for most eurozone economies as wages and consumption rise, inflation bottoms out and investment begins to return
Norges Bank research reverse-engineers model of US housing crashes
Researchers test a variety of models for their fit with evidence on US housing booms and busts, finding formation of household expectations by moving average performs best
Overconfident forecasters may be ‘overrepresented’ in ECB survey
Working paper finds participation in the Survey of Professional Forecasters drops when uncertainty rises, suggesting the results may be biased
Nowotny considers ‘human costs’ of structural reform
National Bank of Austria governor challenges economists to think about the quality of economic growth, suggesting this could have implications for the pursuit of structural reforms
Weidmann sees bond reversal as ‘a kind of re-normalisation’
Bundesbank president argues sell-off is a ‘correction of market overshooting’ in the wake of ECB asset purchases; insists volatility is ‘not exceptionally high’ at present
Philadelphia Fed survey sees brighter outlook for economy
Survey of US forecasters shows outlook of higher growth and lower unemployment than previously thought by the end of 2015; inflation expected to return to target next year
South-South development co-operation in transformation
China's approach in South-South development co-operation focuses on using ‘what China owns and knows best' by combining trade, investment and development co-operation
Zhu Guangyao on China's 'new normal', investment and external pressures
Chinese vice-minister of finance, Zhu Guangyao, explains China's 'new normal', efforts to improve asset investments, fiscal policy challenges and the country's external operating environment
Five foundations for the reform of China
Cheng Siwei, chairman of IFF and former vice-chairman of the Standing Committee of the Ninth and Tenth National People’s Congresses, presents five foundations for aiding the country’s overall reform
'Learning by doing' has transformed Chinese growth
Learning through an experimental approach played an important role in the rapid productivity growth of China. But the country now faces rising income inequality
China's dual-economy poses major challenge for future development
China's unique central-local governance system facilitated growth through a ‘trial-and-error' strategy. But 35 years of high growth have created a dual economy, with both successful and failing parts
Commerce minister Gao Hucheng on China's 'One belt, one road' vision
Chinese minister of commerce Gao Hucheng speaks about international co-operation, trade agreements and China's 'One belt, one road' vision.
The transformation of China towards a modern economy
China has embarked on an unprecedented effort to stabilise growth while accelerating structural reforms towards an inclusive, sustainable, innovative and more open economy
Chan wants Canadian firms to access China through HK
HKMA chief executive says Canada should ‘leverage on’ Hong Kong’s unique access to mainland capital markets in Toronto pitch
ECB paper emphasises productivity's role in export elasticity
Authors find a range of factors matter when assessing the response of exports to changes in the exchange rate, including productivity and both the type and magnitude of shocks
Irish deputy sees value in ‘well-developed’ rental market
Stefan Gerlach says it is important renting is an attractive long-term proposition, as deeper rental markets help make the economy more resilient to shocks
Economists expect last-minute Greek deal
With Greek finances still looking close to collapse, Central Banking asks a group of economists what the consequences of a last-minute agreement or default might be
Nowotny sees ‘strange irony’ in Austrian success
Central bank governor argues policy-makers made Austria economically successful by acting contrary to the libertarian approach favoured by the Austrian School of economics