Economics
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
ECB paper presents new corporate default prediction method
Authors say their “distance to insolvency” measure outperforms other forecasting methods
Das outlines RBI’s post-Covid research reforms
Central bank has adopted “full information” system to capture economic dynamics
Carstens wins major Spanish economics prize
King of Spain award praises BIS president’s work in Mexico and globally
Climate change may have serious effects on natural rate – ECB paper
Monetary policy may need more flexibility to deal with climate and green transition, researchers say
Last-minute moves shake up IDB race
Mexico replaces candidate, Argentina joins race
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
ERM’s 1992 crisis offers lessons for today, academics say
Barry Eichengreen, Maurice Obstfeld and Richard Portes discussed “accident waiting to happen”
Christopher Sims on modelling the inflation surge
Unprecedented shocks creates major challenges for forecasters, the Nobel prize-winning economist says
Nominal interest rates strongly affect savings – ECB paper
Simple models based on real rates do not accord with eurozone data, researchers find
Bernanke, Diamond and Dybvig win Nobel Prize
Economics prize goes to authors of widely cited work on financial crises
Central Bank of Kenya raises rate and denies FX shortage
New president nominates former governor Ndung’u to become finance minister
Expectations are key to carbon tax’s impact, says ECB paper
Inflation may rise if consumers doubt government’s commitment to raise green taxes, research finds
Bundesbank vice-president calls for shift to ‘carbon accounting’
Proper calculation of carbon costs will mean firms disclosing private data, Claudia Buch says
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
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
Eurozone repo markets are slowing policy transmission, ECB paper says
Dealer banks use market power to get better prices from other institutions
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
How to run a world-class economics department
Central banks have myriad ways of organising their economists
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Ex-NBU governor talks about fund shortfalls, finstab challenges, the CBR and post-conflict rebuilding
Joseph Stiglitz calls for rethink of macroeconomics
DGSE models have “nothing to say” about economic effects of Covid-19 measures, Nobel winner says
Decision theory can guide climate modelling, Nobel laureate says
Lars Peter Hansen argues policy-makers need to pay more attention to uncertainty
Book notes: Can’t we just print more money?, by Rupal Patel and Jack Meaning
A genuinely readable but non-neutral introduction to economics
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making