Inequality
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
Thai governor speaks about higher inflation, sustainable finance challenges, CBDC experiments and payments governance
Inflation: what went wrong, and why?
Three theories on the causes of high inflation and their implications for policy responses
US needs tighter policy, former senior Fed adviser says
Higher rates will cause little damage to supply chains, David Wilcox argues
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
Bank of Canada deputy stresses heterogeneity’s role in monetary policy
Debt may complicate tightening cycle, as Canadian consumer inflation expectations rise
BIS report highlights macro risks of inequality
Persistent inequality could weaken policy and create negative feedback mechanism, research finds
Inflation is more painful for the poor, says Brainard
Fed official joins wider discussion about measurement and impact of inflation
Governor of the year: Mario Marcel
Chile’s governor has expertly navigated a third currency crisis while bolstering the BCCh’s capabilities
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Markus Brunnermeier on the need for CBDCs
The Princeton academic says public digital currencies face pitfalls but are still needed
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
BoC paper highlights ‘profound impact’ of heterogeneity
Confluence of factors has pushed heterogeneity into the forefront of economic research, authors say
BoE paper links inequality to credit crises
Central banks will redistribute resources whether they act or not, authors say
New York Fed opens new research centre
Marco Del Negro will lead work on research methods and issues in macroeconomics
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
Ex-US Treasury head speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord and ‘unknown unknowns’
Inequality sharpens monetary policy’s effects – ECB paper
Author analyses “inequality channel” using model with three types of heterogeneous agent
Dutch households to keep most pandemic savings
DNB still expects strong recovery in household consumption if social distancing measures are lifted
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
UK financial sector slowly improving on diversity – BoE paper
Research shows women are gaining a foothold, but progress with age and nationality diversity has stalled
World Bank appoints Caribbean and central Asian directors
New York Fed names chief of innovation hub and St Louis appoints head of economic equity institute