Economics
Paper examines how sticky investment prices affect DGSE model
Findings bring the model in line with growth accounting exercises, the researcher says
Successful bank nationalisations need trust in government, paper argues
DNB paper looks at effects of government intervention on bank customers’ behaviour
Encouraging creation of ‘quasi-safe assets’ may be destabilising, paper argues
Investors have distinct “safety demand”, researchers argue
Bank of Spain paper calculates implicit public debt thresholds
Researchers build on earlier work and apply models to Spanish data
Economic shocks more likely to spread within EU – new research
Researchers use new model to measure propagation of regional shocks in Europe
Broad sectors of Irish economy are ‘very connected’ – study
Irish research uses network analysis to look at sectoral linkages
Ballerina gives BoE a lesson in transformation
English National Ballet’s artistic director draws lessons from a controversial process of modernisation at her institution, in conversation with Andy Haldane
ZLB magnifies impacts of uncertainty shocks, paper says
Differences caused by zero lower bound are “economically important”, researchers say
Banque de France paper models ‘pandemic’ impact of shocks
Researchers build on other recent models of financial markets
Poloz considers the future of economic modelling
Theoretical and empirical two-pronged approach likely to stay, governor says, though economists are still on the hunt for the “holy grail” single model
CLS signs MoU with Chinese think-tank
The forex utility will work with the National Institution for Financial Development to support the renminbi’s internationalisation
Dutch paper looks at effects of public capital on advanced country growth
Researchers present data on 20 OECD countries
Farms, germs and loans: central banking in 19th century France
Researchers study Banque de France’s lender-of-last-resort operations
Review urges BIS to curb dominance of ‘house view’ in research
Panel including UK’s Charlie Bean finds BIS research has at times been “genuinely path-breaking” but should give economists more room to differ from the house view
Italian paper looks at securitisation of SME loans
Asymmetric information can be overcome by the use of observable data
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Haldane hopeful for ‘rebirth’ of economics
BoE chief economist believes crisis for the profession could lead to a break with past thinking; offers solutions to productivity problems
BoE article sees benefits to agent-based modelling
“Bottom-up” approach is complementary to models that are already widely used; the Bank of England has created new models for both housing and corporate bond markets
Finnish paper rethinks transmission of financial shocks
Researcher’s model uses search and matching approach
Austrian central bank gives award to two young economists
Papers study responses to shocks in structural funds and effects of trade on business cycle
Poloz urges economists to create new economic models
The rise of the service sector has changed the way productivity and output can be calculated, the Canadian governor says, musing on whether the relationship between inflation and growth could change over time
Central Bank of Brazil establishes data portal
Central bank creates hub for 454 data sets, combining data from government database and other sources; bank has plans to launch data promotion scheme in 2017
Credit scoring improves borrower selection, Bank of Italy paper says
Paper presents a database on loans and the use of credit-scoring models; banks’ use of credit scoring reduces the likelihood of borrower defaulting, researchers say
SNB paper models ‘sticky consumption’ in Switzerland
Assuming consumption habits are slow to change helps produce more robust results than other methods, author finds