Inequality
Poorer areas in US have higher food inflation – research
Low-income areas also have less disinflation after shocks pass, Atlanta Fed study finds
US consumer spending resilience hides inequalities – research
Low-income consumers’ credit card debt has risen substantially since 2019
Book notes: How low interest rates change the world, by Jesper Rangvid
This book investigates the possible causes of ultra-low interest rates, the problems low rates cause and the path of future rates
Book notes: The measure of progress: counting what really matters, by Diane Coyle
The book offers important insights into national income data compilation that are frequently ignored by economists
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Fed officials sound warnings over economic mobility
Vice-chair says it remains core of American Dream, but Philly Fed chief says it is out of reach for many
US monetary policy affects income inequality – Fed research
Surprise rate hikes affect lowest paid, authors find
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Tighter credit and monetary policy hurts the young – ECB study
Borrowing limits push up rents but do not affect house prices, research shows
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
A stimulating amalgamation of previous ideas presenting the kind of economic system most conducive to decent society
Acemoglu, Johnson and Robinson win Nobel prize in economics
Trio given award for work on role of colonial institutions in shaping long-term prosperity
How to increase the impact of financial literacy initiatives
As surveys show financial literacy outcomes falling short, Pedro Duarte Neves distils key lessons
Aggressive monetary policy hits poorer harder – research
New York Fed authors find stabilising demand shocks has positive distributional outcomes
BIS predicts AI will be inflationary in long term
Expects accelerated inflation dynamics as firms adjust prices in response to shocks
Uneven US innovation could increase inequality – research
St Louis Fed economist documents rising patent concentration by area
AI threatens labour’s share of income, research finds
AI could increase inequality and social unrest, Philadelphia Fed paper argues
Minneapolis Fed study cites credit barriers for Native Americans
Authors say indigenous-owned businesses suffer unduly from limited access to loans
Ethnic minorities ‘more likely to be homeless in US’ – Fed study
Point-in-time data shows Black and Native American citizens disproportionately affected
Unconscious bias ‘blights female economists’ career prospects’
Bank of Italy study examines impact of referral letters for male and female job candidates
Racial wealth disparities in US ‘have accelerated post-Covid’
Research attributes gap to kinds of assets typically held by white, Black and Hispanic investors
Local preferences affect US bank lending to minorities – research
Ethnic minorities’ credit access is affected by stakeholders, NY Fed paper finds