GDP
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
IMF grants Tonga $10 million emergency loan
Fund’s Article IV report expresses concern about banking sector; predicts GDP contraction
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
Few central banks collaborate with private-sector researchers
Collaborations are common with academia, especially in advanced economies
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation is expected to hit target by mid-2021
Fed holds rates as US recovery falters
Powell calls for fiscal stimulus and says further Covid-19 wave is hitting poor hardest
Book notes: Austerity, by Alberto Alesina, Carlo Favero and Francesco Giavazzi
When it works and when it doesn’t; every chapter is thorough, informative and persuasive
Fed eases terms on emergency facility as uncertainty rises
High-frequency indicators suggest US recovery is slowing amid resurgence of virus cases
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling, which could show up in next week’s Cofer data release, writes Gary Smith
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems
US and German economies suffer largest quarterly contraction in decades
Official figures say second quarter saw biggest US GDP decline since the Great Depression
Tenreyro sheds light on BoE’s ‘epi-macro’ modelling
Staff have conducted several virus simulations, but uncertainty remains high
Malawi’s new president dismisses governor
Former World Bank official will take over central bank as country faces uncertain outlook
Namibia’s central bank cuts rates to record low
Central bank acts to preserve link to South African currency as it reintroduces lockdown measures
UK GDP growth plunges to -20% in April
Figure is worst on record, but may be somewhat better than earlier official estimates
Nigeria slashes rates by 100bp
Central bank thinks stimulus package can still prevent the economy from entering recession