Coronavirus
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Communications Benchmarks 2023 – executive summary
Data reveals comms teams’ structures and strategies, as well as key trends in media usage
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Book notes: The big con, by Mariana Mazzucato and Rosie Collington
The authors highlight that the excessive pursuit of efficiency results in ineffective government agencies
What economists learned from Covid-19
A rush of work on ‘epi-macro’ yielded breakthroughs and then faded. Will there be lasting benefits?
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
IMF code drives reform of central bank transparency
Dmytro Solohub says pilots of new transparency code have already fostered change
Kganyago calls for lower inflation target and tighter policy
Sarb governor urges reform of South Africa’s troubled transport and electricity sectors
Boston Fed expands programme to get people back into work
FedNow created high demand for IT roles, which sparked programme’s inception
IMF review finds flaws in Covid-19 response
Key departments lacked sufficient staff and fund missed surge in inflation, IEO report says
Lifetime achievement: Stefan Ingves
Modest man from the Finnish ‘boonies’ has had a major impact on international central banking
Pandemic purchases averted ‘destabilising loop’, BIS finds
Central banks tended to use different tactics in advanced and emerging economies, report says
Central Banking Awards 2023: second group of winners unveiled
Awards announced for Governor of the year, Communications, Transparency and partners
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation
To repo or to buy? Non-bank liquidity backstops still elusive
BoE’s Hauser and Fed’s Logan flag major design challenges in building ideal market backstop
RBI report details Covid contingency measures
Central bank reorganised staff and processes at “unprecedented scale and speed”
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
Biden nominates Ajay Banga to lead World Bank
Ahead of the nomination, some argued president should pick a non-US citizen