Labour
The ‘golden age’ of central banking has passed
Central banks are up against multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
Lifetime achievement: Charles Goodhart
LSE and BoE veteran has influenced central banking policy practices and frameworks all around the world
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
Early non-employment ‘scars’ workers – Bank of Italy paper
Effect is particularly severe for non-graduates and when conditions are good, research finds
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor says ECB ready to boost stimulus and Basel reforms not diminished by Covid-19 exceptions
Whither the age of ‘magic money’?
EME central banks are more exposed at a time of ‘close to free lunch’ money
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from the EMU
Climate change on the agenda for most economics departments
Central banks explore a wide range of topics, with some differences between AEs and EMEs
All that glitters – Surveying central banks on gold reserves
Key survey data and comments reinforce the main findings in Invesco’s central bank reserve management white paper on the revival of gold as a reserve asset.
Haldane explores long-term consequences of home working
Welfare impact seems broadly positive, but it is uneven and may not last, says BoE chief economist
One third of reserves staff work in front-office roles
Average reserve management team size is less than 30 employees
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns post-pandemic labour markets will need new public policies
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed chief supports average inflation targeting and worries about Treasuries market and non-bank regulatory weakness
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but there are drawbacks
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face pressures from the health crisis and global financial forces, says Steve Kamin
Recession causes inequality ‘double whammy’ – research
Paper links loss of hours worked to inequality, with recessions causing a negative ratchet effect
US unemployment falls sharply in May
Unemployment rate declined to 13.3% from 14.7% in April, despite widespread fears it would rise
Covid-19 macro effects could last 40 years – research
Research from University of California says natural rate could take decades to return to normal
T&T governor calls for productivity reforms
Alvin Hilaire says improvement still required despite recent increase in productivity