Labour
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
Edmund Phelps and the search for a ‘new economy’
The Nobel Prize winner helped lay the foundations of modern macroeconomics. Now he is concerned something is deeply wrong with how policy-makers think about the economy
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Mark-ups made up more than 50% of US inflation – Kansas City Fed
Rise in mark-ups may point to opportunistic pricing by firms
Powell signals FOMC may slow pace of hikes
Fed hopes to remove labour market pressure by cutting number of job openings, Powell says
Colombia orders ninth consecutive rate increase
Inflation rises above central bank projections as finance minister expresses frustration
Book notes: 21st century monetary policy, by Ben S Bernanke
Bernanke’s great book offers important insights for today’s policy-makers, writes Stephen Poloz
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
PBoC launches new phase of e-yuan pilot
Consumers in some cities can use prototype CBDC for public transport and housing
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
BEAC governor clashes with political leaders over recruitment
Charges of nepotism follow dispute with Central African Republic over bitcoin
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Brazil central bank union ends strike
Months of industrial action fail to secure requested pay increase
Iran imposes restrictions on payments
Authorities cite risk of cyber attacks, but economy has also faced capital flight
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
New Zealand’s inflation hits 30-year high
Labour shortages also affecting many businesses
BCB union suspends strike for two weeks
Brazil central bank workers reject 5% pay offer and will continue some labour protests
Tech talent: a global bottleneck for central banks?
Central banks are struggling to recruit people with the right fintech expertise. The search for talent may also create new ethical challenges in managing links to industry
Brazilian central bank strike escalates
Staff now out indefinitely, interfering with Pix and economic statistics