Macroeconomics
US inflation continues ascent
CPI inflation reached new high of 7.9% in February
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
IMF and World Bank pledge Ukraine aid
Fund considering emergency loan and World Bank assembling $3 billion package
BIS paper estimates slack in Mexico’s informal labour market
Calculating Nairu is challenging given large unregulated sector, authors say
BIS paper finds real links matter for asset price co-movement
Real economic integration may be more important than previously thought, authors say
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
IMF signs off on Pakistan aid despite ‘exceptionally high’ risks
Central bank reserves are low and fiscal spending breached limits, but recovery is proving strong
BoC paper highlights ‘profound impact’ of heterogeneity
Confluence of factors has pushed heterogeneity into the forefront of economic research, authors say
IMF warns Chinese economic recovery ‘lacks balance’
Focus on investment has set back progress towards “high-quality” growth, fund says
Kazakhstan’s president announces changes to powerful wealth fund
National unrest leads to changes at SWF that owns an estimated 40% of GDP
IMF pares back forecasts as world faces ‘multiple challenges’
Omicron variant, supply disruptions and inflation threaten to hold back recovery, says Gita Gopinath
Only some firms pay attention to economic news – Bank of Canada paper
Attention is “polarised and counter-cyclical”, affecting policy impact, researchers find
South Sudan central bank announces sharp fall in inflation rate
IMF credits exchange rate reforms with taming prices, while central bank cuts interest rates
Google data offers real-time indicator of business closures, says BoC research
Google Places database can reveal whether businesses are gone for good or just “hibernating”
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
Fed’s Waller says federal funds rate should rise soon after QE ends
Fed governor hints at tighter policy and offers lessons from the pandemic
IMF paper emphasises importance of carbon pricing
Authors say carbon tax would be “more efficient and easier to administer” than other options
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Labour market changes key to inflation – BIS’s Shin
Central banks may face “race against time” to prevent wage-price spiral, says Hyun Song Shin
Eurozone officials call for major fiscal changes
Stability and Growth Pact is hampering policy, speakers at ECB conference argue
PBoC hints at tilt to easier policy as growth slows
Third-quarter monetary policy report tweaked phrases, downplaying opposition to easy policy
OECD’s total GDP surpasses pre-pandemic level
Organisation says many countries’ GDP still lags behind, and growth is now slowing
Vietnam’s central bank warns of high inflation risk in 2022
Governor Nguyen Thi Hong admits bad debts have increased, as banks struggle with impact of Covid