Big data
FCA chair warns of big data-driven ‘algocracy’
Technology could lead to a society ruled by algorithms, if safeguards are not put in place, says Charles Randell
BoE’s latest big data project targets labour mismatches
Eliminating regional mismatch could have prevented productivity shortfall, researchers find
Central bankers share vision for ‘business as usual’ big data
Panellists offer advice on how to build the infrastructure for good data governance
New risks and opportunities
Central Banking convened a panel of experts to discuss how central banks and other authorities are making use of new risk-based assessment techniques to remain ahead of the fintech curve.
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
Haldane envisages ‘iterative’ approach to advancing economics
Deductive and inductive approaches “need to share a broadly equal billing”, BoE chief economist says, setting out how the central bank has made use of big data
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
Fintech in the ‘new era’ – Sustainable and sound development
Li Dongrong, president of the National Internet Finance Association of China and former deputy governor of the People’s Bank of China, discusses the growing importance of fintech and how innovation must be married to self-discipline for China to make a…
The IFF China Report 2018: China’s opening-up and reform policy
The experiences of China’s opening-up and reform during the past 40 years, which includes a transition from an agricultural economy to one seeking to offer high-end manufacturing and services, offer valuable lessons to other nations seeking to pursue…
IMF unveils new data strategy
Fund’s first ever “overarching strategy” on data envisages new approach to gathering, processing and sharing statistics
Lawmakers should not yet intervene on big data – European agencies
Financial institutions should develop best practice for big data, ESAs say
MAS prepares new approach to data collection
MAS says it is moving towards “zero duplication” of data requests and machine-readable regulation
FCA to examine feasibility of global regulatory sandbox
UK regulator recommends establishing a “college” of regulators to strengthen co-operation across borders; interested parties have until March to comment
Central Banking Awards: Bank of Canada is central bank of the year
Awards go to the Bank of Canada, PriceStats, Perago and De La Rue
Economics in central banking: Alberto Cavallo and Roberto Rigobon – Billion Prices Project/PriceStats
Through a vast and ongoing data-collecting exercise, PriceStats has helped central banks overcome many of the drawbacks inherent in traditional inflation series
Big data can give valuable labour market signal – Fed paper
High-frequency private payroll data is useful in forecasting the labour market, researchers find
BoE paper outlines big-data-based early warning indicator
Text mining approach seeks to capture how narratives can drive action in financial markets
Google’s Hal Varian on how technology is changing economics
Google’s chief economist talks to Christopher Jeffery about how big data and machine learning are facilitating changes in economic thinking; discusses the impact technical breakthroughs may have for central banks
Google chief economist Hal Varian offers machine-learning insights
Varian says use of single-factor equilibrium models needs to give way to dynamic state approaches; he urges central banks to experiment, even though this will result in some failures
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
NY Fed economists reveal big-data approach to nowcasting
Paper sets out the New York Fed’s model for producing early estimates of major indicators
Big data in central banks focus report 2017
The second Central Banking Journal focus report on big data expands on the original study from 2016, assessing how challenges have evolved in the past year.
The rapid evolution of data
As big data enters the mainstream, it is critical to understand how it can transform our thinking, but also to be realistic about its shortcomings and biases
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.