Productivity
More female Stem workers could boost Japan’s productivity – study
Tackling gender pay gaps and discrimination against female researchers could accelerate growth
Fed economists estimate natural rate still at rock bottom
Analysis implies policy rate is firmly in restrictive territory and may not remain high
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
‘Robust’ wage growth consistent with disinflation – BIS paper
But firms need to avoid increasing their profit margins, authors find
Structural reforms could ‘unleash’ Indian growth – IMF paper
Study highlights shift in sources of productivity growth in India
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
Edmund Phelps and the search for a ‘new economy’
The Nobel Prize winner is concerned something is deeply wrong with how policy-makers think about the economy
What is happening to US wages?
Economists disagree over causes of real wage stagnation
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Can new BoJ governor Ueda maintain his neutral position?
Kazuo Ueda will face divided views on monetary easing and its growing side-effects when he takes office, writes Sayuri Shirai
China needs reforms to maintain robust growth, IMF warns
Fund urges Chinese policy-makers to tackle productivity slowdown and financial risks
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
US risks slipping back into secular stagnation, says Rajan
Fed has “good chance” of defeating inflation but US economy has deeper problems, economist says
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Book notes: A full-value ruble, by Kristy Ironside
Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
Labour market news matters for business cycle – BoE paper
Findings suggest previous focus on productivity is too narrow
Turkey’s Dornbusch moment
Turkey’s new deposit scheme sets the stage for hyperinflation, writes Barry Eichengreen
Masaaki Shirakawa on lessons from crisis and how to reform central banks
Former governor reflects on a turbulent 40 years at the Bank of Japan
Eurozone QE helped increase R&D spending, paper finds
Firms that had bonds bought by the ECB increased R&D spending by 9% on average