Economics
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
US experts believe inflation will fall, eventually
CPI inflation surges above consensus forecasts, but economists expect a turning point soon
Rising inflation still stalks major Latin American economies
Tighter monetary policy in Brazil, Chile and Mexico is failing to bring inflation down
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
Brazil central bank union ends strike
Months of industrial action fail to secure requested pay increase
Bank of Canada deputy stresses heterogeneity’s role in monetary policy
Debt may complicate tightening cycle, as Canadian consumer inflation expectations rise
Banking systems’ long-term systemic risk has grown – ECB paper
Assets became safer but banking systems’ failures were more harmful, analysis finds
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
ECB paper argues for existence of ‘liquidity coverage channel’
Researchers analyse impact of eurozone central banks’ actions after onset of Covid-19 pandemic
Tougher macro-pru helps response to major storms – BdF paper
Better regulation greatly reduces costs of financing after some natural disasters, researchers find
People: former New York Fed chief Corrigan dies
New deputy governor appointed in Honduras; Bundesbank names head of research; and more
ECB paper analyses financial crisis contagion
Crisis in one region can trigger more as investors reassess other markets, researchers say
Eurozone could improve fiscal pact – ECB paper
Reformed framework should combine expenditure growth rule with “debt anchor”, researchers say
Researchers try to measure public trust in ECB
“Reflective trust” is lower than “instinctive” reaction, especially among women, paper finds
Central bank comms staff earn $40,000 on average
Data shows wide disparity across institutions and income groups
Sudden carbon price rise risks major financial shocks – ECB paper
Model looks at impact on eurozone banks of different decarbonisation measures
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
IMF paper calls for action on long-term Covid risks
Vaccination drive is falling short and is not enough on its own, authors say
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
Book notes: Mission economy, by Mariana Mazzucato
Although worth reading, the book doesn’t offer as many answers as it could when it comes to reimagining the capitalist system
Central Banking Awards 2022: the winners in full
Recipients of the 2022 awards include Stanley Fischer, the Bank of Korea, Mario Marcel and many more