Economics
Fiscal response to crisis eased demand shock: Norges Bank paper
Norges Bank study says intervention by some governments during the financial crisis prevented a sharp drop in demand
Supply-side constraints are mostly resolved: BoJ
Bank of Japan September report on Recent Economic and Financial Developments says decline in supply-side constraints has led to pick-up in economic activity
Buba’s Dombret emphasises importance of market-economy principles
Bundesbank executive board member Andreas Dombret says recent reforms should focus more not less on market-economy principles
Bank-based economies struggle more during recoveries: IMF paper
Fund study shows bank-based economies find it more difficult than market-based economies to recover from economic crises
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20; analysts express concern over central bank’s ability to maintain exchange rate floor
SNB paper identifies creative destruction effect in competitive markets
Swiss National Bank study expands on Schumpeterian growth models to highlight pro-competitive effects of technology from new entrants
Top officials discuss economic gloom in Italy
Key votes reveal lack of confidence in US economic policy and the future of the eurozone
Assessing the effects of fiscal policy with estimated and calibrated models: BoJ paper
Bank of Japan research shows some difference in impact of fiscal policy based on model used to measure it
Bank of Albania finds no misalignment in value of lek
Bank of Albania study shows adoption of floating exchange rate regime in Albania has maintained equilibrium level of real exchange rate
Sarb’s Marcus calls for unified commitment to recovery from Western leaders
South African Reserve Bank governor Gill Marcus says lack of confidence and trust leadership in US and Europe has undermined the global recovery
Japan moves to halt yen gains with new facility
Japan’s finance minister Yoshihiko Noda reveals plans to set up $100 billion facility that will encourage companies to exchange yen for foreign currency assets
Oil-price volatility driven by speculation: ECB paper
European Central Bank finds evidence of switch in oil-price regime in 2004 towards speculative demand
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
ECB paper identifies source of slump in global trade
European Central Bank study says numerous components of final expenditure contributed to sharp decline in global trade during financial crisis
Assistance needed to retrain unemployed: NY Fed’s Dudley
New York Federal Reserve president William Dudley says New Jersey and the US as a whole need assistance to reduce structural unemployment
Financing constraints reduces productivity growth: IMF paper
Fund study finds tighter credit conditions have a negative effect on factor productivity
New policy approaches should ‘stimulate’ risk-taking: BoE’s Haldane
Andrew Haldane uses historical examples to show macroprudential policy, used to stimulate risk-taking, can work
RBNZ estimates economic benefits from hosting major Rugby tournament
Reserve Bank of New Zealand expects the upcoming 2011 Rugby World Cup to add 1.4% to New Zealand’s growth
Exporting raises firm productivity: Bank of Israel paper
Bank of Israel study shows that exporting firms in Israel are on average more productive than non-exporters
Swiss franc rallies as SNB shows no sign of euro peg
Swiss National Bank intensifies battle against strong Swiss franc by injecting further liquidity into markets; pass on euro-peg moves currency 1% higher
Policymakers must act together, says Lagarde
Lagarde urges policymakers to "act boldly, act together and act now" to restore confidence in the global financial market
Soft-dollar pegs not optimal in Sub-Saharan Africa: IMF paper
Fund study says soft peg to dollar increases macroeconomic instability in Sub-Sahara African countries
BoE - Agents' Summary of Business Conditions (August 2011)
Bank of England’s August 2011 Agents' Summary of Business Conditions reports continued weakness in consumer spending
Fitch reports bright future for Sub-Saharan Africa
Rating agency investigations says outlook for the region is brighter than it has been for decades