Economics
Deflation caused by low growth expectations: BoJ paper
Bank of Japan study says deflation made worse by falling growth, inflation expectations
Thailand’s Bandid on macroprudential policy
Bank of Thailand deputy governor Bandid Nijathaworn stresses need to distinguish macroprudential policy from capital controls; points to difficulty in identifying triggers
Uganda’s Tumusiime-Mutebile on driving investment growth
Bank of Uganda governor Emmanuel Tumusiime-Mutebile says capital market deepening and responsive regulation key to expanding country’s investment potential
Avoid too many rules on CoCo bonds: BoJ research
Bank of Japan paper says design of contingent capital instruments should not be overregulated; issuance should be encouraged owing to positive externalities
Sheng, Lemierre: finance must shift to serve real economy
China Banking Regulatory Commission's Andrew Sheng and BNP Paribas's Jean Lemierre say speculation must be quelled; Sheng urges Asia to develop investment banking industry, create regional champions
G20 agrees historic IMF power shift
G20 governors and finance ministers agree to boost quotas, voting power of leading emerging market economies; Fund managing director Dominique Strauss-Kahn heralds end of legitimacy debate
Bank’s King proposes radical regulatory measures
Bank of England governor Mervyn King assesses policies to reduce banking sector’s dependence on public support
National Bank of Cambodia - Annual Report 2009
National Bank of Cambodia’s Annual Report for 2009 says southeast Asian economy expected to return to growth this year
Federal Reserve – Beige Book (October 2010)
Reports from twelve districts identify continued weakness in housing market recovery
IMF: tax hikes increase success of austerity measures
Fund study shows tax rises in addition to spending cuts help reduce public debts more effectively
Norges Bank finds strong oil krone link
Norges Bank study shows strong co-movement between oil prices, krone exchange rate and interest differentials can provide useful benchmark for measuring currency
CEPR finds bias in fiscal forecasting model
Centre for Economic Policy Research study shows that failure to incorporate changing preferences when modeling fiscal forecasts may create inaccurate predictions
Bank of Israel: FX intervention successful
Bank of Israel study shows rise in frequency of foreign currency interventions caused depreciation in shekel-dollar exchange rate
Yilmaz: Turkish economy booming
Central Bank of the Republic of Turkey governor Durmuş Yilmaz says growth in Turkey outpaced most emerging markets in second quarter
The Fed is being asked to do too much
Marcelle Arak and Sheila Tschinkel argue that more outright purchases of US Treasuries by the Federal Reserve will do little to stimulate US growth
US Treasury stalls on decision to name China ‘manipulator’
US Treasury says it will delay publication of report on exchange rates until after G20 gathering in Seoul
Botswana’s Mohohlo in call to spur capital market growth
Bank of Botswana governor Linah Mohohlo tells CentralBanking.com that growth will require a greater degree of financial literacy
Academics embark on €1.8m project to predict crises
European Union-funded project will see economists, computer scientists and physicists cooperate in bid to improve financial forecasting
Google price index gets analysts’ thumbs-up
Commentators praise the innovation underlying Google price index; despite limitations, index could work as a CPI subset
Buba’s Weber rebuffs criticism of German surplus
Bundesbank president Axel Weber dismisses argument that eurozone’s surplus countries should boost demand to aid deficit-laden neighbours; condemns “misleading” comparison to China
IMF on luck and labour markets
Evidence from cricket shows a good first job has persistent positive impact on long-term career outcome, Fund study says
The dangers of Bernanke’s calls for change
Fed chairman Ben Bernanke’s calls for more research into areas of economics underexplored by central bankers is commendable, but translating this into policy has its risks, writes Claire Jones
Fed’s Yellen: macroprudential policy must balance rules and discretion
Federal Reserve vice chair Janet Yellen says macroprudential supervisors should be guided by fixed rules, but have discretionary capacity to surprise firms
Firms have cut reliance on debt financing: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says businesses have raised equity and looked to their profits for funding