Fiscal policy
Spanish governor in favour of extending support to non-financial firms
Hernández de Cos favours grants and equity injections over debt issuance
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
IMF staff praise new Argentina stabilisation plans
Buenos Aires requested a new support programme in August
Lagarde calls on governments to prolong fiscal support
ECB president thinks regulatory, investment and education measures are needed to boost post-pandemic recovery
Carstens warns QE strengthens ‘fiscal-monetary nexus’
BIS chief warns central banks over using up “credibility capital” by their Covid-9 responses
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
Bank of Mexico cuts rates again despite above-target inflation
President refuses to increase fiscal support package, citing danger of sovereign debt crisis
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
Estonian governor criticises government’s fiscal stance
Spending was too high before coronavirus, and is making all citizens poorer, argues Madis Müller
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery
Bank of Zambia cuts rates as Covid concerns intensify
Zambian central bank calls for debt sustainability policies as growth and inflation forecasts worsen
Mexican sovereign debt faces tighter conditions - SF Fed paper
Liquidity premiums reached record highs in pandemic while foreign holdings fell, researchers find
Rising debt has weakened eurozone – Bank of Spain paper
Highly indebted countries face lower output and limited ability to respond to crises, researchers say
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
Book notes: The menace of fiscal QE, by George Selgin
Much of this book is even more relevant, thought-provoking and important following Covid-19
RBI to pay out $7.6 billion to cash-strapped government
Central bank maintains capital at lower bound of specified range
Book notes: Radical uncertainty, by Mervyn King and John Kay
The one certainty we have faced is that we have to confront uncertainty, which is precisely the point of this wonderful book