Economics
RBA’s Debelle on bank funding and capital flows
Reserve Bank of Australia’s Guy Debelle says crisis has had “marked impact” on global financial flows
HKMA – Quarterly Bulletin (December 2010)
Hong Kong Monetary Authority quarterly surveys selected debt securities and off-balance sheet exposures
Chinese house prices overvalued in some places: HKMA research
Hong Kong Monetary Authority study shows prices outstrip fundamentals in some market segments; points to importance of early warning mechanism
Philadelphia Federal Reserve – Livingston Survey (December 2010)
Philadephia Federal Reserve’s biannual survey of economists shows expectations of high unemployment, low inflation in 2011
HKMA’s Chan stresses importance of SME financing
Hong Kong Monetary Authority chief executive Norman Chan unveils central bank’s new financing scheme for small and medium enterprises
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
Reasons behind offshore bond issuance: BIS
Bank for International Settlements research finds price differentials and access to overseas investors among key reasons to issue paper offshore
Rise in income tax can boost growth: Fed study
Federal Reserve research shows increase in capital-income tax can provide insurance against investment risk and raise overall welfare
Fitch kicks three more notches off Ireland
Irish sovereign debt downgraded to BBB+ by ratings agency Fitch
Bank of Israel develops new forecasting model
Bank of Israel study develops new forecasting model that uses quarterly data
IMF: EME bond spreads respond to fundamentals, financial stress
Fund study says emerging market bond spreads are sensitive to financial volatility in short run but macroeconomic fundamentals in long run
Boston Fed finds evidence of sticky wages
Boston Federal Reserve paper shows that wage adjustments in the United States are very infrequent
Policy centralisation key to future of Eurozone, says Goldman’s O’Neill
Success or failure of the Eurozone hinges on Germany ‘laying down the law’, according to chairman of Goldman Sachs Asset Management.
Mauritius’ Bheenick warns of middle income trap
Bank of Mauritius governor Rundheersing Bheenick says competitiveness key to overcoming middle income trap
Credit card rewards boost spending: Chicago Fed
Chicago Federal Reserve study shows that credit card cash-back rewards can boost spending but effect on total consumption is relatively minor
How to overcome structural breaks when forecasting: Bank study
Bank of England research examines methods to overcome the problem of structural breaks in forecasting
IMF paper: Dutch disease weakens growth
Fund study finds evidence that overvaluation and volatility of the real exchange rate reduces growth
Fed’s Yellen: QE2 could help emerging markets
Federal Reserve vice chair Janet Yellen makes case for currency appreciation in emerging markets; remarks come on the heels of emerging market criticism of QE2
Philly Fed on labour choices and consumption behaviour
Philadelphia Federal Reserve study shows households' consumption preference for labour is bell shaped
Portuguese banks’ reliance on ECB 'unsustainable', says central bank
Bank of Portugal Financial Stability Report says domestic lenders’ reliance on eurosystem funding has spiralled; sovereign’s declining prospects a key factor
Periphery CDSs break records as sovereign fears continue
Portugal might be next peripheral to seek help, economist warns, as its CDS hits record high.
Markets, analysts unconvinced by Irish bailout
Officials welcome deal but euro, continental bourses drop in response to €85 billion rescue package for Ireland
Europe reveals new stability mechanism
Eurozone finance ministers outline European Stability Mechanism designed to offer financial assistance to troubled single currency states
Shirakawa: currency appreciation not panacea for inflows
Bank of Japan governor Masaaki Shirakawa says textbook solution to capital inflows does not apply to emerging economies in low interest rate environment