Deflation
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
Japanese inflation hits 41-year high
Inflation now double the BoJ’s target, but officials are not convinced it will last
Inflation: what went wrong, and why?
Three theories on the causes of high inflation and their implications for policy responses
Joseph Stiglitz on the challenge of fixing macroeconomics
Nobel Prize-winner discusses if central banks went wrong in 2021 and what to do about inflation
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
Central bankers have lost sight of inflation
Resurgence comes after crypto and climate distractions from primary task
Masaaki Shirakawa on lessons from crisis and how to reform central banks
Former governor reflects on a turbulent 40 years at the Bank of Japan
Final frontier? Japan after the Kuroda experiment
The Bank of Japan has pushed monetary easing close to its limit, yet inflation is barely above zero. What happens now?
Goodhart, Gopinath and Lippi disagree on inflation
Central banks lack tools to deal with inflation, Goodhart warns, but IMF chief economist disagrees
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
SNB should adopt higher inflation target, report says
Senior economists recommend the Swiss National Bank reviews its policy strategy
Eurozone inflation jumps to 0.9% in January
Analysts argue sharp increase was pushed by German tax increase and statistical changes
Eurozone inflation remains stuck at -0.3%
Year-on-year inflation first fell into negative territory in August 2020
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor says ECB ready to boost stimulus and Basel reforms not diminished by Covid-19 exceptions
Bank of Japan launches policy review as deflation worsens
BoJ considers further monetary easing and extends special loan programmes
Whither the age of ‘magic money’?
EME central banks are more exposed at a time of ‘close to free lunch’ money
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan
Otmar Issing on the art of central bank communications
EMU architect critiques “whatever it takes”, forward guidance, Fed’s AIT and ECB’s strategy review
Is there a path between the Covid abyss and chasm of financial risk?
Policy-makers may be asking too much from macro-prudential policies
Has Covid-19 made gold shine brighter?
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.