Macroeconomics
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
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