Economics
Brainard criticises Fed’s diversity efforts
Lack of diversity is holding back the economics profession, says senior Fed official
US Senate rejects Shelton for Fed job
Republicans fail to muster enough support for controversial candidate, but second vote is possible
Eurozone’s ageing is lowering interest rates – BoI paper
Natural real interest rate is likely to reach its lowest point around 2030, researcher finds
ECB paper looks at interest rate-growth differential
Several factors are likely to push differential up for some eurozone countries, say researchers
Book notes: Austerity, by Alberto Alesina, Carlo Favero and Francesco Giavazzi
When it works and when it doesn’t; every chapter is thorough, informative and persuasive
Maggiori, Neiman and Schreger on capital flows and Covid-19
The Global Capital Allocation Project sheds light on where vulnerabilities may lie
Bank of Italy paper compares US recession-forecasting methods
Measure of uncertainty out-performs even yield curve in short term, researchers say
ECB paper presents new measure of underlying inflation
“PCCI” measure does not exclude HICP items and gives timely notice of turning points, authors say
Fed’s Covid-19 response drove euro’s appreciation – ECB paper
Effects of QE on exchange rates are comparable to conventional monetary policies, researchers find
Information drives transatlantic policy spillovers – ECB paper
Tighter ECB policy often causes financial easing in US due to “information effect”, researcher argues
Central bank refinancing greatly lowers banking risk – ECB paper
Paper uses data on post-crisis eurozone to calculate effects of refinancing rate on risks facing banks
Samuel Brittan (1933–2020): A master of his trade
Robert Pringle looks back at the life of Samuel Brittan, the economic journalist and adviser to Central Banking
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas
Milgrom and Wilson share economics Nobel Prize
Auction theorists win this year’s prize for discoveries “of great benefit to society”
Austrian paper estimates effects of European helicopter money
Researchers use data on likely consumption of windfall income from survey of 17 European countries
RBI appointments clear way for delayed MPC meeting
Three new officials will start setting Indian monetary policy this week
Machine learning algorithms could increase ethnic bias – research
Technology makes loans more likely for US ethnic minorities but increases interest rates, paper finds
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk
Sticky prices play key role in monetary policy responses – ECB paper
Author finds different US industries’ react very differently to monetary policy decisions
Eurozone unemployment hits 8.1% in August
Statistics agency warns figures could be underplaying pandemic’s economic impact
Central bank research may be biased by career concerns, paper finds
Central bankers are more likely to be promoted if they find QE is effective, study shows
People: Denmark names board member; interim chief quits UK FCA
Appointments in Denmark and Singapore; departures in the UK and Namibia
Flu pandemic of 1918 hit poor economies hardest – ECB paper
Researchers say evidence indicates lower income countries may be worst hit by Covid-19
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say