Productivity
Low rates can harm productivity, say Liu, Mian and Sufi
Low rates may end up discouraging investment across the economy, authors say
Paper proposes ‘re-engineering’ US statistics
System for compiling statistics is dated and overly complex, authors say
Fall in technology use helped slow Canadian productivity, BoC paper finds
But slowdown in labour productivity began eight years before fall in technology use – researchers
ECB’s normalisation could spell trouble for Italy’s bond market
Rome’s budget row with Brussels escalates just as QE is about to halt
Haldane to lead effort to boost UK productivity
BoE chief economist appointed chair of the Industrial Strategy Council
Zombie firms drag down productivity in economy – BIS paper
Lower interest rates create conditions for “zombie firms”, researchers find
Uneven technology adoption behind low productivity and wage growth – RBA research
High-productivity firms are reducing prices and increasing profits rather than boosting salaries
US could lose a third of growth to climate change – Richmond Fed article
Authors warn economic damage could be much more widespread than typically assumed
Rising wages set to increase inflation – ECB research
Strong GDP growth and employment creation underpins higher underlying price pressures
Labour reallocation explains productivity puzzle – BoE paper
Methodological innovation helps solve data-quality issues, author says
BoE’s Cunliffe makes case for ‘stodgy’ policy
Monetary policymakers should not act too fast when uncertainty is high, deputy governor says
Weak US productivity behind low wage growth – IMF
Declining labour share of income is another contributing factor
BoE’s latest big data project targets labour mismatches
Eliminating regional mismatch could have prevented productivity shortfall, researchers find
NY Fed paper: ‘replacement hiring’ affects productivity wage gap
Replacement hiring can explain much of the gap between wages and productivity, authors say
Central banks do not have tools to change productivity growth – Haldane
BoE chief economist says governments are responsible for productivity, challenging proposals in recent report
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
Haskel says BoE could benefit from focus on intangible capital
Productivity specialist says updated view of the economy could help with setting policy
Report proposes mandating BoE to target productivity growth
UK opposition says BoE should not have to rely on interest rates to lower inflation; 3% productivity target would help push prices down, report says
IMF forecasts lower US growth than Fed, Congress and White House
Stimulus expected to yield higher growth in the short term, but the benefits are likely to fade away from 2020
Andy Haldane rethinks traditional growth narrative
New research implies growth did not “flatline” before the industrial revolution
US rates will rise less than in previous expansions – Fed’s Williams
Higher savings and lower productivity growth means “new normal” will continue, Williams says
BoE’s Broadbent apologises for ‘menopausal’ remark
Deputy made the remark while trying to explain the word ‘climacteric’ to a newspaper
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
After the Congress – Interpreting China’s new development concept
As Xi Jinping Thought is enshrined in the Constitution, Justin Lin, IFF member and former chief economist at the World Bank, calls for far-reaching innovation in all sectors of industry and finance to attain the goal of national rejuvenation