International
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
IMF reports growing global financial risks
Supervisors must remain vigilant on risks developing in new areas, IMF says
FSB views crypto assets as minor threat to stability
Report highlights possible risks posed by rapidly changing sector; overall stability threat low, but regulators may need to act in other areas
IMF cuts global growth forecasts
Likelihood of further negative shocks has risen, warns Maurice Obstfeld
‘Amazon effects’ impact pricing across economy – paper
Alberto Cavallo says online competition has changed pricing dynamics on- and offline
Prudential regulation subject to ‘leakages’ – BIS paper
Net effect of tighter prudential regulation is positive for economic growth, paper finds
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize
Central bank independence key to low and stable inflation – IMF
Domestic factors more important than global financial forces, researchers find
Output gaps are significant cause of inflation – BIS paper
Researchers find evidence of flatter Phillips curve in advanced economies
What is the future of banknotes?
Antti Heinonen searches for clues on the future of banknotes at central banks worldwide
Researchers explore impact of bank stress on the real economy
Large banks should be subject to more stringent requirements, authors say
Uncertainty over monetary policy is ‘recessionary’, researchers say
Forward guidance reduces uncertainty and supports the economy, paper finds
Gita Gopinath named IMF chief economist
The Harvard academic is a specialist in international finance and an adviser to central banks
Global output gap matters for inflation – BIS paper
Authors find domestic and global output gaps both important, but effects differ across economies
Zombie firms drag down productivity in economy – BIS paper
Lower interest rates create conditions for “zombie firms”, researchers find
‘Momentum building’ behind financial response to climate change
FSB welcomes progress on disclosures; BoE report finds many UK banks are facing up to the risks
Local factors have greater influence on global lenders – BIS paper
Researchers examine data on 53 largest commercial banks
G20 showing progress at tackling data gaps
Considerable progress” in third phase of implementing data gaps initiative, down from “substantial progress” in previous phase, FSB-IMF report says
BoE reveals details of nowcasting approach
Central bank explains approach to generating timely estimates of global GDP
Globalisation becomes more divisive as it advances – Dani Rodrik
Harvard economist says gains from trade may not outweigh redistributive problems
Stronger macro-prudential intervention may be needed – Minneapolis Fed paper
Shadow banking sector takes greater risks in times of stringent macro-prudential policy for banks, researcher finds
Central banks accelerate gold purchases in 2018
This has been the strongest period of gold buying since 2015, WGC says
BIS paper finds sound economy may not prevent capital outflows
Emerging markets could use pre-emptive macro-prudential policies to safeguard against capital outflows, researchers say
Booming US economy set against ‘fragile’ markets – BIS review
Fiscal stimulus on top of loose financial conditions in the US continues to pile pressure on emerging markets, the BIS warns in its latest quarterly review