Financial crisis
Wanted: radical ideas for inflation modelling
Hedge funds echo Mervyn King’s calls for a new approach to inflation modelling post-2022 crisis
Stefan Ingves on leadership, prudential oversight and transparency
Riksbank veteran talks about Basel III, policy lessons and CBDCs
Syria devalues currency
Black market still trading at substantially weaker rate
Book notes: The illusion of control, by Jon Danielsson
Jon Danielsson’s book makes a compelling case for a serious rethink on financial crises and risk management
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
It is time to reorganise the Bank of England
Recent crises have shown the BoE’s management structure to be outdated, says William Allen
Capturing moral hazard: the Scarlet Pimpernel of finance
Moral hazard exists in many contexts, but can be ‘damned elusive’ to capture, writes Jesper Berg
Proportionality in bank regulation: striking the right balance
Careful analysis is required when making any proportionality adjustments in the EU single rule book
Bank of England pushes ahead with ‘Basel 3.1’
Central bank says amendments to Basel III could halt downward drift in risk-weighted capital ratios
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Thesis that QE caused low r* is entertaining and infuriating in equal measure
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
Christopher Sims on modelling the inflation surge
Unprecedented shocks creates major challenges for forecasters, the Nobel prize-winning economist says
Eurozone sovereign downgrades increased corporate risk – ECB paper
Ratings changes for “core” eurozone countries had largest effects on corporate bonds
Bernanke, Diamond and Dybvig win Nobel Prize
Economics prize goes to authors of widely cited work on financial crises
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
Rate rises reveal defi weaknesses – Powell
Regulating algorithms highlighted as key crypto challenge at Banque de France conference
Inflation: what went wrong, and why?
Three theories on the causes of high inflation and their implications for policy responses
Book notes: 21st century monetary policy, by Ben S Bernanke
Bernanke’s great book offers important insights for today’s policy-makers, writes Stephen Poloz
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
IMF paper offers ‘fear-based theory’ of economy
Central banks risk distorting the economy if they don’t move interest rates to offset “fear cycle”
Financial Stability Benchmarks 2022 report – executive summary
Data sheds light on how central banks are dealing with risks to stability