Economics
Renminbi liberalisation, price stability priorities: PBoC
People’s Bank of China says currency internationalisation, price stability top priorities for 2011, following annual meeting
US growth outlook encouraging, says Kansas City Fed’s Hoenig
Kansas City Federal Reserve president Thomas Hoenig says US expected to grow at moderate pace in next few years
Fed study on minimum wage and inequality
Federal Reserve study says impact of minimum wage declines on inequality in United States overstated
US economists push for ethical code
Academics and practitioners call on American Economic Association to adopt code forcing economists to reveal links to private firms
Financial crises hit imports hardest: IMF research
Fund study shows financial crises are associated with large and persistent losses in imports while exports are not adversely affected
ECB paper develops new labour market model
European Central Bank study estimates new monitoring and forecasting model to measure labour market adjustments in Europe
Chile unveils strategy for series of interventions
Central Bank of Chile to buy $12 billion-worth of foreign currency in bid to halt peso’s appreciation; peso dips sharply
PBoC’s Zhou on market-based interest rate reform
People’s Bank of China governor Zhou Xiaochuan outlines the conditions for market-based interest rate reform
IMF paper investigates drivers of extreme commodity price movements
Fund research looks to wine and crude oil prices to uncover the causes of volatility
Fiat money, central banking and the Bank of Amsterdam: Atlanta Fed research
Atlanta Federal Reserve paper uses Bank of Amsterdam example to explore effects of fiat money on central bank functions
BoE: Agents’ summary of business conditions (December 2010)
Bank survey shows strong export growth, rise in manufacturing and services activity; weak housing market, tough credit conditions for small firms
Norges Bank paper looks at combining predictive densities
Norges Bank research seeks means to go past point forecasts when combining models
RBI's Mohanty on private investment
Reserve Bank of India executive director on why private investment remains relatively low in Asia
Imbalances could treble in next two decades: Bank's Haldane
Bank of England executive director Andy Haldane charts course of global imbalances, pointing to trends likely to widen them
Sama's Al-Jasser on the role of SMEs
Saudi Arabian Monetary Agency governor Muhammad Al-Jasser points to importance of small and medium enterprises; calls for care and development of sector
Pakistan's Kardar on domestic inflation dynamics
State Bank of Pakistan governor Shahid Kardar explains burgeoning price growth; cites government spending on subsidies as a factor
Capital flows drive financial imbalances: IMF study
Fund paper says capital inflows are main factor behind financial imbalances, with effects worsened by insufficient oversight
Bank of Namibia – Monetary Policy Statement (December 2010)
Bank of Namibia’s monetary policy statement shows concern over expected weakness in future growth
Norges Bank on links between marginal value of cash and firms’ behaviour
Norges Bank research points to impact of marginal value of cash on businesses’ decision making
Monetary policy and the Australian-Kiwi exchange rate: RBNZ paper
Reserve Bank of New Zealand research finds Australian dollar-New Zealand dollar exchange rate incompatible with uncovered interest rate parity after official cash rate adoption
Adverse selection in a crisis: Bank of Canada paper
Bank of Canada research examines consequences of negative selection when markets are in turmoil
Shirakawa on boosting productivity growth
Bank of Japan governor Masaaki Shirakawa says upping productivity growth tough but necessary; points to areas for improvement
Posen forecasts inflation ‘well below’ Bank’s latest estimate
Bank of England external Monetary Policy Committee member Adam Posen points to “empirical regularities” to explain why inflation could dip to less than 1% in years ahead
Reaffirming HK’s position as wealth management hub
Hong Kong Monetary Authority’s Meena Datwani on what has been done in order to preserve the territory’s reputation as a regional wealth management hub