Central-Banks
SNB & CHF: The Swiss National Bank and Swiss Franc Blog
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Weekly SNB Interventions and Speculative Positions: Investors do not take North Korea dispute seriously
FX Despite the tensions between Donald Trump and North Korea’s Kim Jong-un, the EUR/CHF only depreciated to a low of 1.1284. Euro / Swiss Franc FX Cross Rate, August 14(see more posts on EUR/CHF, ) Source: markets.ft.com - Click to enlarge SNB interventions nearly at zero Data for the last weeks: In the last week, the SNB did not have to intervene. This proves that investors haven’t taken the tensions seriously. Change in SNB...
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“Mystery” Central Bank Buyer Revealed: SNB Now Owns A Record $84 Billion In US Stocks
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SNB Balance Sheet, Markets and Economy: As Good As It Gets?
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Survey on the use of payment methods in Switzerland
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Worin die populäre Geldschöpfungskritik irrt – Teil 2
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Switzerland’s Changing International Linkages
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Swiss Banks Paid Out €1 Billion In Negative Interest Rates In The First Half
FRED
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Comparing quality of education in the United States and China : Penn World Tables reveal China’s great leaps toward the U.S.
[embedded content] An economy’s long-term growth prospects depend on many factors, including the education of its workers. One measure of a country’s quality of education is the index of human capital from the Penn World Tables. This index combines years of schooling and returns to education, and it can be used to rank and evaluate the quality of education in each country. The graph traces the evolution of the index of human capital per person...
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A glass half full or half empty? : The evolution of full-time and part-time employment
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Characterizing the decline of manufacturing employment : Are manufacturing workers being fired or quitting?
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Aging, Growing, and Slowing : GeoFRED lends insight into global population trends
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A widening disconnect? : Disconnected youth in America since the Great Recession
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‘Tis the season for adjustment : What difference does seasonality make in the unemployment rate over time?
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Reflections on net migration : The (almost) mirror image behavior of net migration for the United States and Mexico
Bank Of Japan
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Average Interest Rates by Type of Deposit
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T-Bills Purchased by the Bank of Japan
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Japanese Government Bonds Held by the Bank of Japan
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Bank of Japan Accounts (August 10)
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Basic Figures on Fails (July)
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Speech by Board Member Funo in Sapporo on Aug. 2, 2017 (Economic Activity, Prices, and Monetary Policy in Japan)
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Release of Latest “Loans and Bills Discounted by Sector” and “Loans to Households” Data
Swiss National Bank News
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2017-08-15 – Federal bond issues – Public bonds of the Swiss Confederation according to maturity (situation at 15.08.2017)
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2017-08-14 – Press release – Important monetary policy data for the week ending 11 August 2017
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2017-08-14 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 14 August 2017
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2017-08-07 – Press release – Important monetary policy data for the week ending 4 August 2017
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2017-08-07 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 7 August 2017
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2017-08-04 – Press release – Survey on the use of payment methods in Switzerland
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2017-07-31 – Press release – Important monetary policy data for the week ending 28 July 2017
Atlanta Fed
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Behind the Increase in Prime-Age Labor Force Participation
« An Update on Labor Force Participation | Main Prime-age labor force participation has been on a tear recently. Over the last eight quarters, it is up by about 65 basis points (bps) and more than 40 bps in just the ...
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An Update on Labor Force Participation
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Another Look at the Wage Growth Tracker’s Cyclicality
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GDPNow’s Second Quarter Forecast: Is It Too High?
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Are Small Loans Hard to Find? Evidence from the Federal Reserve Banks’ Small Business Survey
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Slide into the Economic Driver’s Seat with the Labor Market Sliders
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The Fed’s Inflation Goal: What Does the Public Know?
RBA
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Next Generation of Banknotes: Issuance Date for the New $10 Banknote
Number Date Notes to editors As previously announced, key aspects of the existing design – colour, size and people portrayed – have been retained for ease of recognition and to minimise the disruption to businesses. The new banknote series also has a ‘tactile’ feature to help the vision-impaired community distinguish...
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Payment Systems and Netting Act 1998: Approval of Netting Arrangement
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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BOK, HKMA, MAS, RBA and RBI Welcome the Publication of the FX Global Code
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Payments System Board Update: May 2017 Meeting
iMFdirect
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Chart of the Week: Iceland’s Tourism Eruption
By IMFBlog August 14, 2017 Tourists at Jokulsarlon iceberg lagoon in eastern Iceland. Tourism has become a pillar of the Nordic island’s economy (photo: Picture Alliance/Paul Mayall/Newscom). Iceland’s tourist industry is burgeoning as adventure-seeking visitors flock to the rugged Nordic nation to partake in activities such as whale watching, ice climbing and spelunking. The number of foreign visitors to Iceland surged 40 percent...
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Aging Japan Puts a Strain on the Financial System
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Building Fiscal Institutions in Fragile States
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Chart of the Week: The Potential for Growth and Africa’s Informal Economy
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Gaining Currency: The Rise of the Renminbi
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A Dip into Subzero Policy Rates
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All Hands on Deck: Confronting the Challenges of Capital Flows
JP Koning: Moneyness
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Why is a one pound coin worth more than four pennies?
The new 12-sided pound coin released earlier this yearThe UK's recently-introduced one pound coin is made of 8.75 grams of metal, 76% of that copper and the remaining 24% a combination of zinc and nickel. At market prices, this amount of metal is worth around four pennies. So why do pounds trade for 100 pennies? Why are Brits passing these coins around as tokens—i.e. far above their metal content—rather than at their intrinsic melt value of...
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The gold trick
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Dictionary money
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Money in an economy without banks
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An homage to the cheque (or check)
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The road to sound digital money
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On currency
Impact Evaluations
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Sometimes (increasingly often times), estimating only the ITT is not enough in a RCT
"In summary, the similarities between follow-up studies with and without baseline randomization are becoming increasingly apparent as more randomized trials study the effects of sustained interventions over long periods in real world settings. What started as a randomized trial may effectively become an observational study that requires analyses that complement, but go beyond, intention-to-treat analyses. ...
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Weekly links July 28: overpaid teachers? Should we use p=0.005? beyond mean impacts, facilitating investment in Ethiopia, and more…
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Biased women in the I(C)T crowd
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A new answer to why developing country firms are so small, and how cellphones solve this problem
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Weekly links July 21: a 1930s RCT revisited, brain development in poor infants, Indonesian status cards, and more…
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What a new preschool study tells us about early child education – and about impact evaluation
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False positives in sensitive survey questions?
Amol Agrawal: Mostly Economics
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When an island in USA issued its own shell based currency..
Interesting bit from history of currency in US(HT: who else but JP Koning): When the Depression and resulting banking crisis hit their community, the residents of the coastal town of Pismo Beach, California picked an unusual but logical medium of exchange. The pismo is a species of clam with a very thick shell, then found in large numbers along the California coast and prized as a food. A town named after the bivalves suggests an adequate...
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Why do regional parties work in some States and fail in others: Case of Karnataka..
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First create noise over Government getting bonanza from demonetisation, then create more when government does not get one…
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70 milestones in Independent India’s business history
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70 Years of Indian Independence: The messy partition of the Reserve Bank of India
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After Partition, Sindhis Turned Displacement Into Determination and Enterprise
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RBI’s new research series: Mint memos..
David Andolfatto: Macro Mania
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A monetary-fiscal theory of inflation
On December 17, 2015, the FOMC has raised its policy rate (IOER) from 25bp to 50bp. It has since raised the IOER rate three more times to 1.25%. Many on the committee seem convinced that further rate hikes are needed (in addition to actions designed to shrink the Fed's balance sheet, which is already shrinking relative to the size of the economy). What is the source of this enthusiasm for monetary policy tightening, given that the unemployment...
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Where’s the inflation?
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The St. Louis Fed’s Macroeconomic Outlook
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Sectoral and Occupational Trends in the U.S. Labor Market
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Fiscal over monetary policy?
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A reply to Lawrence White
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A public finance case for keeping the Fed’s balance sheet large
Stephen Williamson: New Monetarist Economics
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The 2% Inflation Target
There's been a lot of talk recently about the 2% inflation target, and whether or not it would be a good idea to raise it, or change the nature of the target - to price level or nominal GDP targeting, for example. It's instructive, I think, to use as a starting point the letter addressed to Janet Yellen and the Board, and signed by some of my friends, acquaintances, and people I know of but have never met.The authors of the letter argue that...
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The Zero Lower Bound and Monetary Policy
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Plain Speaking
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Low Real Interest Rates and Monetary Policy
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Do policymakers need more advice from sociologists?
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What is full employment anyway, and how would we know if we are there?
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What’s Up With Inflation?
ECB Press Releases
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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
August 2017Market infrastructure and paymentsEurosystem standards for the use of triparty agents (TPAs) in Eurosystem credit operationsOn 28 July 2017 the Governing Council approved the Eurosystem standards for the use of triparty agents (TPAs) in Eurosystem credit operations in order to increase transparency on the eligibility assessments for market participants. The Eurosystem standards for the use of triparty agents (TPAs) will be published...
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Sabine Lautenschläger: Interview with Mannheimer Morgen
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ECB seeks to increase transparency of euro area pension fund sector
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ECB details approach to implement Foreign Exchange Global Code of Conduct
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ECB appoints Hans-Joachim Klöckers and Massimo Rostagno as Directors General
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Sabine Lautenschläger: Sabine Lautenschläger: 100 years of women’s suffrage – gender equality, freedom and democracy
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Yves Mersch: The ECB’s monetary policy stance
Tony Yates: Long and Variable
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Brexit connundrum is not incompetence
David Allen Green’s latest blog – the latest in an FT series that has become compulsory reading – opines on a popular theory that the mess we are in has as its root cause the incompetence of Theresa May in particular, and of the government in general. What he and others seem to set aside, often, is that the most important difficulty the UK faces is how to resolve the competing desires of the different Brexit factions. Given the ill-defined...
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The Office for Budget Responsibility’s Fiscal Risks Report
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More crypto monetary dystopia: political fall-out of a partial take-over
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Central bank policy in the face of a crypto take-over
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Crypto-currencies and the vestigial states they plunder
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Accounts at the central bank: technical policy choice, or a right?
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The flaw in the argument central banks have used to justify the rates first, QE later exit plan
Bank of Canada
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Bank of Canada publishes its 2018 schedule for policy interest rate announcements and the release of the Monetary Policy Report
FOR IMMEDIATE RELEASE Available as: PDF The Bank of Canada today published its 2018 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled announcement dates for the remainder of this year. The...
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Bank of Canada recognizes RCMP’s Integrated Counterfeit Enforcement Team with Award of Excellence for Counterfeit Deterrence
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Monetary Policy Report Press Conference Opening Statement
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Bank of Canada increases overnight rate target to 3/4 per cent
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Monetary Policy Report – July 2017
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Business Outlook Survey – Summer 2017
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Senior Loan Officer Survey – Second Quarter of 2017
New York Fed
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Counterparty and Collateral Policies of Central Bank Lending Facilities
Helene Lee and Asani Sarkar In a previous post, we compared the Federal Reserve’s discount window with the standing lending facilities (SLFs) at the Bank of England (BoE), the European Central Bank (ECB), and the Bank of Japan (BoJ). We showed that the Fed’s discount window was less integrated with monetary policy than the SLFs of the other central banks. In this post, we observe that the counterparty and collateral policies of the...
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Just Released: More Credit Cards, Higher Limits, and . . . an Uptick in Delinquency
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Just Released: Economic Press Briefing Focuses on Regional Wage Inequality
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Investor Diversity and Liquidity in the Secondary Loan Market
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Regulatory Incentives and Quarter-End Dynamics in the Repo Market
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A Closer Look at the Fed’s Balance Sheet Accounting
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Were Banks Ever ‘Boring’?
RBNZ
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Official Cash Rate unchanged at 1.75 percent
Release date 10 August 2017 Statement by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. Global economic growth has become more broad-based in recent quarters. However, inflation and wage outcomes remain subdued across the advanced economies, and challenges remain with on-going surplus capacity. Bond yields are low, credit spreads have narrowed and...
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Simple, conservative approach for prudential supervision
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External expert reviews forecasting processes
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What we do
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Looking at the Stars
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Bulletin article reviews outcomes of IMF’s Financial Sector Assessment Programme
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Reserve Bank outlines stance on cyber issues
Bank of International Settlement
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Demographics will reverse three multi-decade global trends
By Charles Goodhart and Manoj Pradhan Between the 1980s and the 2000s, the largest ever positive labour supply shock occurred, resulting from demographic trends and from the inclusion of China and eastern Europe into the World Trade Organization. This led to a shift in manufacturing to Asia, especially China; a stagnation in real wages; a collapse in the power of private sector trade unions;...
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The FinTech Opportunity
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World changes in inequality: an overview of facts, causes, consequences and policies
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Dollar pricing redux
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Long-term issues for central banks
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Regulatory approaches to enhance banks’ cyber-security frameworks
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Proportionality in banking regulation: a cross-country comparison
FT Money Supply
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Money Supply 2014-07-29 13:41:38
This blog will no longer be updated. Our thoughts on all things central banking, along with the more wonkish elements of economic policy, will appear on Alphaville and The World blog. Thank you for reading. You can keep in touch using our author alerts and twitter.
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ECB caught up in economists’ spat
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TLTRO: how well has the ECB targeted its loans?
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Live blog: Mario Draghi’s monthly ECB press conference
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Japan’s inflation expectations: glass half empty?
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Carney’s (old) new normal
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ECB’s Cœuré backs student calls to overhaul economics curriculum