Economics
Chile unexpectedly halts forex interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
ECB paper looks at role of uncertainty in central bank comms
Researchers use machine learning to study market reactions to BoE inflation reports
Macroeconomics is not broken
The discipline has moved beyond the neoclassical synthesis. Critics should too
Dutch corporate sector is key source of current account surplus
SMEs save to finance investment due to higher borrowing rates than large companies
BoE should improve governance around research, review finds
Research has improved but some issues remain, Independent Evaluation Office says
People: BIS picks Lamfalussy fellow; Iceland appoints research director
BIS names 2020 fellow; Icelandic central bank promotes economist; Jekaterina Govina becomes director of supervision in Lithuania
Atlanta Fed develops new data app
App provides access to Fed bank’s most popular data points and tools
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
Book notes: The Japanese central banking system compared with its European and American counterparts, by Yoshiharu Oritani
Book has “no equal” in reviewing new microeconomic theory for central banking
Canada’s Poloz on monetary policy limits, transparency and cyber recovery
Speaks about stagflation risks from trade wars, the value of market signals and Canada’s CBDC plans
Legal reforms drive growth for middle-income states – research
Growth in financial sectors does not mean increase in economic growth - Bank of Spain paper
US-China trade deal could damage some countries’ trade flows – IMF paper
Eurozone could face loss of trade from between $61 billion to $84 billion, researchers find
The challenges facing Christine Lagarde
New ECB chief needs to lead a successful review of the ECB’s monetary and communications policy
Powell says Fed is increasing work on climate change risk
“Climate change is an important issue, but not principally for the Fed,” Powell says
Central banks turn to Instagram to reach younger generations
Audiovisual social media network is helping some central banks offer financial education for millennials and Gen Zs
IMF boosts financial surveillance funding
IMF seeks to improve hiring and training of economists after Independent Evaluation Office report
BdF paper looks at digital currency and remuneration
Remuneration is key consideration for design of central bank-issued digital currencies, paper argues
Falls in uncertainty may warn of coming crises – Bundesbank paper
Researchers attempt to quantify relationship between rising confidence and early signs of crisis
Central banks must use “unconstrained” negative rates, Rogoff tells ECB
Policy-makers must ensure cash depreciates against electronic money, or face failure, Rogoff says
IMF economist: central banks may have misdiagnosed secular slowdown
Lower neutral rates may have been caused by central banks lowering rates, researcher says
Book notes: Economics for the common good, by Jean Tirole
Book should be well received amid recent rise in populism
Yellen condemns ‘unacceptable’ treatment of female and minority economists
Former Fed chair says more needs to be done to tackle discrimination in the profession
Book notes: Narrative economics, by Robert Shiller
The book is good fun to read, but some elements are a little disappointing
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”