Growth
Simpler models can capture dynamics of Hank framework – NBER paper
Heterogeneity can be “irrelevant” to determining output in some situations, authors find
Lkhagvasuren Byadran on geopolitics, gold and 100 years of central banking on the steppe
Bank of Mongolia governor Lkhagvasuren Byadran speaks about monetary and financial reform, embracing AI and fintech, and Mongolia’s new SWF
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Chinese cities ease home-buying rules as housing slump continues
Analysts say real estate sector unlikely to turn around this year despite recent interventions
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships, but economic gravity may soon reassert itself
BoE hints at possible cuts before Fed
Rate cuts may exceed market expectations, Andrew Bailey says
Fed holds rates as it struggles with inflation’s last mile
Experts disagree over risks of rising inflation and difficulty of Fed’s position
Growth to slow in Asia-Pacific this year, IMF says
Fund cites ageing populations and lower productivity
Central banks need caution in easing policy, IMF says
World Economic Outlook says most indicators still point to soft landing
Low growth threatens to reverse living standards – IMF
AI will drive growth but also increase inequalities, fund says
A new climate of change
Central banks are warming up to address climate risks just as US interest cools
Dallas Fed analysis explains puzzle of strong US economy
Authors say US has enjoyed favourable supply-side conditions that others missed out on
IMF chief urges China to adopt pro-market reforms
Comprehensive reforms could add $3.5 trillion to economy over next 15 years, Georgieva says
BoE holds policy rate as MPC flags persistent inflation
Headline price rises forecast to drop below 2% within months, but wage growth remains high
China sets 5% growth target
Economists question whether government can achieve GDP goal, given weakness in economy
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
De Guindos says eurozone faces technical recession
ECB vice-president says disinflation process is likely to slow in 2024
Economics Benchmarks 2023 – model banks analysis
Data reveals differences in research, forecasting and data use across central banks
ECB holds rates as it lowers inflation expectations
Central bank intends to stop reinvesting maturing assets under PEPP in second half of 2024
Philippines and Hong Kong hold rates
BSP governor says monetary policy has to remain “sufficiently tight” to bring inflation back to target