Economics
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
The book should be well received amid the 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”
Argentine governor demands political consensus on macroeconomic framework
Sandleris says every election unleashes market volatility and disrupts stabilisation efforts
Inflation target uncertainty magnifies price shocks’ impact- BoI paper
Researchers investigate effects of central banks failing to pefectly follow targets
Shale oil boom has not shifted global supply- ECB paper
Global oil supply appears to be “rather vertical” at all times, researchers find
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
Book notes: After Piketty, by Heather Boushey, Bradford Delong & Marshall Steinbaum
The book leaves you with a deeper and nuanced understanding of Piketty's work
Barbadian reforms are strengthening economy, says central bank
Annual report says IMF programme beginning to prove effective
Dallas Fed paper looks at impact of tech shocks
Researchers exploit forecast data for “more precise” identification of technology shocks
Book notes: Humanomics, by Vernon L Smith and Bart J Wilson
While being authored by world-class Adam Smith specialists means this is a must-read, the value-added of the book “remains a bit vague”
Policy uncertainty can magnify cost shocks – BoI paper
Lack of clarity over inflation targets increases effects of cost-push shocks on output, researchers say
Bank of Spain launches data lab for research
Economists now have access to micro-data on the country’s non-financial firms
Unexpected market news weakens fund liquidity – paper
Findings important for understanding systemic risk of firms during times of stress, researchers say
British lawmakers ask BoE for latest Brexit analysis
Publication of previous analysis led to angry criticism by UK politicians