Economics
Twenty years of Central Banking Publications
This anniversary was held on 24 March at the Reform Club. The guest of honour was Jacques de Larosière, who congratulated Robert and Central Banking on their achievement
Finnish central bank offers pessimistic outlook for growth
Bank of Finland report forecasts anaemic growth in 2010 following continued declines in exports sector
ECB: financial distress levels higher in Northern European countries
ECB paper finds financial distress is dependent on the relative indebtedness of households and mortgage market size
Fed: smaller optimal weight should be placed on rental price inflation
San Francisco Fed paper suggests that nature of rental prices warrants change in the way inflation is measured
Turkish study shows economic impact of oil shocks
Central Bank of Turkey paper shows that oil prices have similar impact both globally and on small oil-importing economy
Bank of Canada adapts Black-Scholes model
Bank of Canada uses an adaptation of the Black-Scholes to forecast foreign exchange risks between the US and Canada.
Extra-euro trade growth tops intra-euro trade
Latest trade consistency exercise shows that Extra-euro dominates intra-euro growth in the last decade.
China’s Zhou not flustered by higher-than-forecast inflation
People’s Bank of China governor Zhou Xiaochuan keeps a cool head as inflation increases by more than expected spooking analysts and markets, says central bank will keep to plans
Bank of Canada on risky measures
Bank of Canada study shows that increased ownership among the largest shareholders invites less risky behaviour in decision making
DSK on Africa’s economic transformation
International Monetary Fund managing director Dominique Strauss-Kahn describes the Road Ahead for Africa at the Kenya International Conference Centre in Nairobi
Regional Feds blame weather for slow recovery
Harsh weather conditions across the United States east coast in February dampened growth
Bank of Estonia – Economic Policy Statement
Estonian central bank pins fledgling recovery to a pick-up in export sector, labour market remains weak
Stimulus is not the bulk of debt: Fund’s Lipsky
International Money Fund first deputy John Lipsky says underlying increases in spending and lower taxes from financial sector underpin the debt burden, rather than stimulus
Ghana’s Amissah-Arthur explains early 2009 hike
Bank of Ghana governor Kwesi Bekoe Amissah-Arthur says the West African country’s government has made vital progress in cutting spending, allowing key rates to be lowered
Bank of Korea – International Investment Position (end 2009)
Preliminary figures from the Korean central bank show that the country’s investment overseas soared in value, foreign investment in Korea also increased
Risks influencing loan rates: Bank of England paper
Bank’s external monetary policy unit research shows loan size is not the only variable affecting rates, says higher income individuals are treated better by lenders
Real-time output gap estimates unreliable: ECB paper
European Central Bank paper finds that real-time estimations of the difference between actual and potential GDP cannot be trusted in several respects
IMF should have come to emerging markets’ rescue: DSK
International Monetary Fund managing director Dominique Strauss-Kahn says it should have been the Fund, not the Fed and other central banks, which provided swap lines to emerging markets in the crisis
How the Taylor rule changed central banking for good
Kansas Fed paper shows that the rule had widespread influence and changed policymaking even when it was not adopted outright
Towards a new framework for monetary policy
Jacques de Larosière argues that monetary policy played a major role in the run-up to the financial crisis and that a new operational framework is needed
No new Bretton Woods: Ex-BIS head
Former general manager of Bank for International Settlements says world now too pluralistic
Strong basics numbed crisis impact: Mexico deputy Sánchez
Bank of Mexico deputy governor Manuel Sánchez says fiscal solvency, exchange rate and strong central bank insulated the country from the worst of the crisis
Crises dampen productivity: IMF paper
Rising costs negatively impact factor productivity and have implications for both monetary and fiscal policy, International Monetary Fund research finds