International
Netherlands Bank backs IFRS plans for global sustainability standards
Governor Knot stresses global standard will be of less use if development continues to lag
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
Administrative data is most popular alternative data source
Central banks make use of a wide range of non-traditional data sources
Central banks use alt data mainly for research
Almost all respondents make use of alternative data in at least one application
Non-banks continue to eat into banks’ market share
FSB monitoring finds patterns of links between banks and non-banks are changing
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?
Carstens reveals details of ‘Rio’ high-speed data project
BIS chief unveils push for central bankers to innovate and rethink the way they collaborate
IMF’s Adrian weighs balance between stimulus and stability
Central banks need to incorporate macro-financial stability in decision-making processes, he says
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
CBDC could give consumers power over their data – paper
Mere existence of CBDC could discipline data-hungry payments firms, authors say
Central banks rotate economics staff frequently
Economists typically spend only small portion of time on own research; opportunities for secondment abound
Most authorities failed to build up buffers before Covid hit – Carstens
Supervisors face more problems once emergency support measures are withdrawn, says BIS chief
Fed joining NGFS would be a ‘game changer’ – Després
NGFS to increase study of monetary policy’s climate implications, head of secretariat says
Advanced economies employ greater share of PhD economists
But both advanced- and emerging-economy central banks devote similar staffing to research
The long-term impact of Covid-19 on banknote demand
The coronavirus pandemic has challenged cash usage assumptions at a time when central banks make only limited use of longer-term forecasts
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Central banks play key role in sourcing and sharing data
Institutions gather data from many sources and most share it with external researchers
Could AI ever replace human bank supervisors?
Data collection and processing remains key in leveraging artificial intelligence
BIS warns of gap between cautious banks and buoyant markets
Report says exuberant market conditions may belie underlying risks
Agent-based models remain rare among economics departments
Economics Benchmarks 2020 highlights the varied applications of different model types at central banks
Centralisation key to digitising central banks – ECB conference
Bank of Italy studies use of machine learning to boost supervisory capabilities