Inequality
ECB taking further steps to address gender imbalance - Isabel Schnabel
Efforts to foster greater inclusion of women help tackle “groupthink”, says board member
Fed presses ahead with financial inclusion reforms despite disagreement
OCC has already published a final rule and shows little sign of wanting to follow central bank’s approach
US citizens report better financial health than pre-pandemic
Financial wellbeing boosted by government support and return to work, central bank says
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Average inflation targeting could cut inequality – Fed paper
‘Hank’ models tend to be supportive of Fed’s new approach to inflation targeting, research finds
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…
Ageing population helps explain inequality in US – BIS paper
Firms gain greater market power as workers grow older, authors say
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
Fed paper: market power can cause inequality and instability
Market power can explain a lot of recent undesirable “secular trends”, authors say; redistribution could have macro-prudential benefits
New York Fed study exposes ‘disturbing’ reality for black-owned firms
Data shows black-owned firms were disadvantaged from the start of the pandemic
Biden promises new Fed mandate on racial inequality
Democratic candidate wants Fed to take responsibility for economic concerns of Black Lives Matter movement
Brainard urges caution about US recovery
Bounce in activity came earlier than expected but major risks still loom, Fed board member says
Haldane and co-authors conclude QE has made UK happier
Authors use survey data to track QE’s impact on household balance sheets
Fintech can worsen inequality, BIS paper warns
Diffusion of technology helps to spread the benefits evenly, authors say
Central banks should disclose ethnic pay gaps – BoE research
Diversity pay gap disclosures could result in behavioural change similar to climate risk disclosures, authors argue
Podcast: Boston Fed backs community action on Covid-19 and racial inequality
Working Cities Challenge is not only helping economic resurgence in struggling cities, but also fostering better responses to Covid-19 and racial inequality, official explains
Chicago Fed breaks ties with economist over Black Lives Matter criticism
Controversial comments by senior professor ignite debate over racism in economics, and the Fed’s role in tackling inequality
Recession causes inequality ‘double whammy’ – research
Paper links loss of hours worked to inequality, with recessions causing a negative ratchet effect
Fed can boost power of fiscal spending in communities – Harker and Rajan
Targeted fiscal policies are needed to address concerns over inequality, they say
Covid 19 likely to widen inequality – IMF official
Research finds poor likely to bear brunt of impact, says IMF Asia deputy director
BoE paper argues for heterogeneous agent modelling
Authors use heterogeneous agent model to study fiscal policy and redistribution
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
BIS paper investigates distributive impact of fintech
Big data likely to reduce “negative prejudice” but could undermine regulation, says Thomas Philippon