Macroeconomics
Inflation target uncertainty magnifies price shocks’ impact- BoI paper
Researchers investigate effects of central banks failing to pefectly follow targets
Shale oil boom has not shifted global supply- ECB paper
Global oil supply appears to be “rather vertical” at all times, researchers find
‘Animal spirits’ are real, DNB paper says
Researchers analyse data on household spending and consumer confidence
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens sovereign bond spreads- paper
ECB paper models eurozone’s vulnerabilities
Model can be used to predict build-up of major macroeconomic imbalances, researchers say
Institutional approaches are key factor in mortgage defaults – BoE paper
European countries show major differences in mortgage default factors, researchers find
Eritrean authorities must restore central bank independence – IMF
Macroeconomic situation is “dire” and financial sector needs restoring, IMF says
Policy uncertainty can magnify cost shocks – BoI paper
Lack of clarity over inflation targets increases effects of cost-push shocks on output, researchers say
Unexpected market news weakens fund liquidity – paper
Findings important for understanding systemic risk of firms during times of stress, researchers say
Macro-prudential analysis is not fit for task – leading economists
Carney and Honohan warn of fund failures and Hélène Rey calls for better risk indicators
BIS papers weigh up ongoing risks to global stability
Papers from 2018 AGM include contributions from Forbes, Tucker, Gourinchas and Rey
Carney sees storm clouds gathering over global economy
The “portents are worrying”, BoE governor says, but worst of the impact may pass UK by
Spanish and Italian labour markets still slack – ECB paper
Researchers use "Beveridge curve" to gauge efficiency of eurozone labour markets
Bundesbank paper presents new model of banks’ risk-taking
Traditional models make error in assuming that banks choose fixed-size portfolios, authors argue
Akerlof warns economics is biased against methods seen as ‘soft’
Nobel prize-winner says bias leads to “sins of omission” in economic research
Canada not looking to change exchange regime in 2021 review – Schembri
Deputy governor highlights benefits to economy since adopting regime
ECB paper looks at short-term costs of higher capital ratios
Monetary policy should cushion blow caused by moving to higher capital requirements – researchers
RBNZ paper hunts cause of flattening Phillips curve
Paper explores trend of declining relationship between inflation and economic activity
Bank of Italy paper looks at impact of long-term rates
Long-term rates have significant impact on Italian banks’ risk appetite, researchers find
Trade protection leads to recessions in the long run – Bank of Canada researcher
Some policies can provide temporary booms in the short run, Yuko Imura finds
Changes in uncertainty can affect US long-term rates – ECB paper
Researchers say “uncertainty shocks” may account for about one-half of long-run rate changes
Macro-prudential and monetary policy work well together – ECB paper
Monetary policy can be used to cushion shocks caused by counter-cyclical buffers, researchers find
RBNZ paper stresses need to understand global shocks
Analysing global shocks ‘increasingly important’ for central banks, says article