Economics
IMF supports Cabo Verde’s reforms with new programme
IMF supports monetary policy reform and says the central bank must improve supervision and comms
Macro-prudential analysis is not fit for task – leading economists
Carney and Honohan warn of fund failures and Hélène Rey calls for better risk indicators
Purists lament as most cheer Lagarde as next ECB chief
Lagarde expected to adopt similar philosophy to Draghi at ECB, making the central bank the ‘only game in town’ – at least for a while
BIS papers weigh up ongoing risks to global stability
Papers from 2018 AGM include contributions from Forbes, Tucker, Gourinchas and Rey
BIS to scale up banking services as part of new strategy
“Innovation BIS 2025” envisages broader research agenda and new channels of co-operation
People: Sarb deputy governor retires after 10-year term
China appoints vice-finance minister to MPC; senior Bank of Finland official joins IMF executive board.
Spanish and Italian labour markets still slack – ECB paper
Researchers use "Beveridge curve" to gauge efficiency of eurozone labour markets
Central banks cannot fight a populist Tweet storm – panel
Populist leaders such as Donald Trump comfortably outgun central banks on social media; total approach to communications needed
Book notes: Why not default?, by Jerome Roos
A thought-provoking book that will repay the investment of any reader with an interest in sovereign debt
Bundesbank paper presents new model of banks’ risk-taking
Traditional models make error in assuming that banks choose fixed-size portfolios, authors argue
Akerlof warns economics is biased against methods seen as ‘soft’
Nobel prize-winner says bias leads to “sins of omission” in economic research
El Salvador appoints new central bank chief
Seasoned civil servant Carlos Federico Paredes appointed by new political outsider president
Next Bank of Jamaica governor chosen
Businessman and financier Richard Byles to take over on August 19
Fed banks collaborate on economic education
“We have a ‘power-in-numbers’ approach,” says officer at the San Francisco Fed
Romania’s Mugur Isarescu on independence in a ‘post-truth’ world
National Bank of Romania veteran governor speaks to Christopher Jeffery about the country’s shift to a market economy, challenges in the eurozone and independence in a ‘post-truth’ world
Venezuela’s central bank finally admits economic collapse
First official data release since 2015 says GDP fell by 22.5% in the year to the third quarter of 2018
Why two degrees matters to central banks
Ulrich Volz explores why strong leadership is required from central banks and supervisors to ensure the financial sector will be in a position to weather climate risks.
Bank of Spain calls for reform of pensions system
Governor sees need for national consensus to secure sustainability of current system
People: Brazil likely to replace deputy with San Francisco Fed economist
Fernanda Nechio nominated for Brazilian central bank board; two appointments in Lithuania; Sarb fills sixth board position; Guy Debelle takes on Global FX Committee chairmanship; and more
ECB paper looks at short-term costs of higher capital ratios
Monetary policy should cushion blow caused by moving to higher capital requirements – researchers
Local shocks may outweigh global factors for EMEs – ECB paper
US monetary shocks less important than much recent literature argues, researchers say
El Salvador central bank launches statistics app
Central bank says app designed to improve accessibility of economic data
Macro-prudential and monetary policy work well together – ECB paper
Monetary policy can be used to cushion shocks caused by counter-cyclical buffers, researchers find
The BoE’s education outreach programme
The Bank of England launched econoME last year to bring a practical understanding of economics to the classroom. Its aim is to make policy-making more effective in the future. It plans to extend its offering to schools by designing materials for younger…