Macroeconomics
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
ECB paper looks at eurozone banks’ exposure to securities
Granular study of eurozone securities can help analysis of financial crisis contagion, study argues
Trump’s tariffs aren’t hurting eurozone yet, says ECB
Economists warn of danger to US in escalating trade war
Namibia’s central bank slashes economic growth forecast
Bank of Namibia reduces predicted GDP growth to just 0.3%
Digitalisation is reshaping the economy, says Canada’s Wilkins
G7 conference raises key questions on how the economy will change in future
Zimbabwe signs agreement with IMF to strengthen macro framework
New agreement will complement government reforms to foster macro stability amid high inflation
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
US wage growth ‘possibly double’ what is reported – Dallas Fed
Researchers use dataset that includes those who move house to calculate wage growth
Eurozone macro-prudential policies have large cross-border effects – ECB paper
Impact especially strong when different countries have asymmetric financial cycles, researchers say
EU must prevent large firms dominating markets, Praet says
ECB chief economist warns market concentration may have serious macroeconomic effects
Trade tensions could ripple among South-east Asian nations – Menon
Rising leverage ratios a key risk for EM Asia, but the region is more resilient
Central bank outlook is key to rate decisions’ impact – Bundesbank paper
“Pure policy” and “information” shocks have very different effects on economy, researcher argues
Book notes: Where economics went wrong, by David Colander and Craig Freedman
Chicago economics’ gladiatorial debating style has cost the discipline dearly, the authors argue
IMF paper sets out growth-at-risk framework
Tool for assessing macro-financial conditions likely to enhance surveillance, authors say
Trump’s tariffs may have caused inflation – researchers
Estimates indicate tariffs may have already contributed 0.1 percentage points to CPI, authors find
Australian governor says productivity rises needed to boost incomes
Lowe told lawmakers falling house prices will not ‘derail’ Australian economy
UK economy stumbles as Brexit looms
Quarterly growth slips to 0.2% in final quarter of 2018, and monthly growth turns negative in December; business investment also down
Latest restructuring boosts the PBoC’s regulatory clout
Hui Feng says the restructuring of the PBoC carries “profound implications” for the central bank’s role in policy-making
Monetary policy must respond aggressively to persistent shocks – BoI paper
Researchers model economy where central bank has less information than private firms
Negative rates could have sped up US recovery – San Fran Fed paper
Output gap could have been reduced by as much as half compared to actual figures, researcher says