Central-Banks
SNB & CHF: The Swiss National Bank and Swiss Franc Blog
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Swiss National Bank Bubble Regains Lead Over Bitcoin
A week ago we tweeted… Dear @SNB_BNS_en – you are the next bitcoin: congratulations pic.twitter.com/cld4YNbNLb — zerohedge (@zerohedge) September 14, 2017 But as Bitcoin rebounded from its China challenges, it overtook The SNB once again as bubbliest bubble. However, a 13% spike in the share price of The Swiss National Bank today has put an end to that leaving the central bank back in first place among the melter-uppers… WTF > SNB >...
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Digital-Currency Milestone: Somebody Just Bought A House With Bitcoin
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Pourquoi l’accès à vos dépôts bancaires, épargnes et capital retraite est rendu difficile?
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Swiss abroad need Swiss bank accounts
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Place financière genevoise, une noyade dans l’anonymat.
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Les «diamants de sang» zimbabwéens circulent librement sur les marchés internationaux. La Tribune
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SNB Monetary Policy Assessment September 2017 and Comments
FRED
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A precise measure of uncertainty? : The Economic Policy Uncertainty Index tries to quantify unpredictability
[embedded content] FREDcast, FRED’s forecasting game, asks players to forecast four major macroeconomic variables by the 20th of every month. Some players may be frustrated by the erratic behavior of some of these indicators as they attempt to make their guesses. Fair enough. Plenty of other data analysts are in the same boat. Well, a team of researchers has been trying to quantify this sense of uncertainty using the Economic Policy...
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How much do we spend on new houses? : The highs and lows in the numbers and values of new construction
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Take it easy! : The Ease of Doing Business Index ranks regulatory environments around the world
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U.S. car production: right on track : Passenger car production mirrors the pattern of railroad construction, 20 years delayed
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Is GDP a good measure of well-being? : Mapping out health and income
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Labor force participation rates across the OECD : Who’s working depends on where you look
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A healthy appetite for health care? : How supply and demand may affect the costs and consumption of health care services
Bank Of Japan
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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 (September 20)
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Comment Letter on the Volcker Rule
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Statement on Monetary Policy
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Average Interest Rates by Type of Deposit
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Holding the “Meeting on Market Operations”
Swiss National Bank News
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2017-09-22 – Speech – Dewet Moser, Alternate Member of the Governing Board of the Swiss National Bank: The international reform process so far and the importance of interest rate benchmarks from a central bank perspective
The international reform process so far and the importance of interest rate benchmarks from a central bank perspective Dewet Moser, Alternate Member of the Governing Board of the Swiss National Bank Joint Event SIX Swiss Exchange and SFAA Swiss Bond Commission, Zurich, 22.09.2017 Complete text PDF (1.1...
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2017-09-21 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Second Karl Brunner Distinguished Lecture: Introduction of John B. Taylor
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2017-09-21 – Research – Research TV (live broadcast of the Karl Brunner Lecture, starting at 5.30 pm)
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2017-09-20 – Publication – Quarterly Bulletin 3/2017
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2017-09-20 – Karl Brunner Distinguished Lecture Series – Invitation to the Second Karl Brunner Distinguished Lecture (flyer)
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2017-09-18 – Press release – Important monetary policy data for the week ending 15 September 2017
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2017-09-15 – Federal bond issues – Public bonds of the Swiss Confederation according to maturity (situation at 15.09.2017)
Atlanta Fed
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When Health Insurance and Its Financial Cushion Disappear
« What Is the "Right" Policy Rate? | Main Personal health care costs can skyrocket with a new diagnosis or accident, often leading to catastrophic financial costs for people. Health insurance plays an important role in protecting individuals from unexpected large ...
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What Is the “Right” Policy Rate?
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macroblog 1970-01-01 00:00:00
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Is Poor Health Hindering Economic Growth?
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Behind the Increase in Prime-Age Labor Force Participation
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An Update on Labor Force Participation
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Another Look at the Wage Growth Tracker’s Cyclicality
RBA
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Next Generation of Banknotes: $10 Enters General Circulation
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. Related Information
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Payments System Board Update: August 2017 Meeting
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Next Generation of Banknotes: Issuance Date for the New $10 Banknote
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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
iMFdirect
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Structural Reforms Give Biggest Help To Lagging Countries
By Angana Banerji and Christian Ebeke September 22, 2017 Structural reforms can jumpstart productivity in countries with weaker initial productivity, and help them catch up with their peers (photo: The Palmer/iStock). Labor and product market reforms, which make economies more efficient, can benefit all countries. But they are especially helpful in jumpstarting productivity in countries where productivity is weaker. This is good news...
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Corruption in Latin America: Taking Stock
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Growth That Reaches Everyone: Facts, Factors, Tools
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Chart of the Week: Banking on Women—A Case for More
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Drifting Apart: Income Convergence in the Euro Area
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End of the Oil Age: Not Whether But When
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Back-to-School Blogs
JP Koning: Moneyness
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Post-demonetization, the role of cash has been diminished
Narendra Modi's demonetization scheme, which involved the sudden cancellation of all ₹1000 and ₹500 rupee notes, was designed to hurt those in the underground economy who had stashed away large amounts of cash. But many smaller cash users got caught up in the blast radius. Has Indian behaviour surrounding cash changed? More specifically, what long-term impact has the painful demonetization process had, if any, on the population's preferences...
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When a rising stock market is a bad thing
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No rupees left behind
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You call that counterfeiting? This is counterfeiting!
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Chain splits under a Bitcoin monetary standard
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Why is a one pound coin worth more than four pennies?
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The gold trick
Impact Evaluations
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A better way to train small business owners: using psychology to teach personal initiative
Billions of dollars have been spent by governments, microfinance organizations, and NGOs on training small businesses. Traditional training programs typically aim to teach owners to use better business practices such as record-keeping, stock control, and simple marketing. But while employing more of these practices does seem to improve firm performance, most attempts to train firm ...
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Six Questions with Chris Udry
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Weekly links September 15: the definitive what we know on Progresa, ethics of cash, a new approach to teaching economics, and more…
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Looking for a shortcut to identifying great teachers? You may be out of luck.
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Weekly links September 8: career advice, measuring empowerment, is anyone reading, lumpy cash, and more…
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Worker productivity and soft skills
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Is it possible to re-interview participants in a survey conducted by someone else?
Amol Agrawal: Mostly Economics
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Calling a spade a spade: Pakistan is a rentier state…
One is enjoying the frank columns in Pakistan newspaper – Dawn – which is quite surprising given the might of the State in the country. I had just blogged about a Pakistan economist questioning the constant government cribbing and calling people tax thieves. Here comes another piece from Aasim Sajjad Akhtar who teaches at Quaid-i-Azam University, Islamabad. He says Pakistan is just a rentier state which always gives its resources to the...
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When a central bank carries orders from political authorities due to fear: Case of Gambia
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Amazon looks for a new headquarters whereas Google plans to build a new city…
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The rise of robots in the German labour market
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Why does Tea/Coffee disappear but donuts/snacks don’t in meetings?
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Launch of the Central Bank of Ireland’s archives
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Is it fair for Governments to call people tax thieves? An analysis from Pakistan..
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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Lael Brainard: Phillips Curve Confusion
As background for this piece, you can read this forthcoming St. Louis Fed Review article, "Inflation Control: Do Central Bankers Have It Right?" and/or the accompanying slides from a presentation for the Australasian Macroeconomics Society in Canberra, August 2017. The paper gathers together informal stuff I have written on so-called Neo-Fisherism and monetary policy.Conventional central banking inflation control is typically driven...
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The 2% Inflation Target
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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?
ECB Press Releases
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Benoît Cœuré: The use of local currencies in EU candidate and potential candidate countries
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the International Conference on the occasion of the 20th anniversary of the Central Bank of Bosnia and Herzegovina, Sarajevo, 22 September 2017Dear Governor,Dear Member of the Presidency of Bosnia and Herzegovina,Dear Chairman of the Council of Ministers of Bosnia and Herzegovina, Dear Ambassador, Dear colleagues from the central banks, Ladies and gentlemen,I am delighted to...
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Mario Draghi: Youth unemployment in the euro area
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Vítor Constâncio: Understanding and overcoming low inflation
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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
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Vítor Constâncio: Macroprudential stress-tests and tools for the non-bank sector
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Mario Draghi: Building on the achievements of post-crisis reforms
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ECB to publish new unsecured overnight interest rate
Tony Yates: Long and Variable
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Bitcoin and the lender of last resort function
Dario Perkins of Lombard St Research got me thinking about whether Bitcoin – or some other digital cryptocurrency – would obviate the need for or possibility for a lender of last resort. Without implicating him in any bad thinking here, what follows came out of our conversation. Some [for example, see this by Axel Weber] see that the impossibility of a lender of last resort will prevent Bitcoin from becoming, or being allowed to become the...
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Where does the false balance policy come from in the broadcast media?
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Brexit connundrum is not incompetence
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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
Bank of Canada
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How Canada’s International Trade is Changing with the Times
Remarks Saskatoon Regional Economic Development Authority Available as: PDF Introduction My theme today is international trade, which is the lifeblood of the Canadian economy. Throughout our history, we have successfully relied on our exports...
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Bank of Canada begins publishing daily data for new Canadian effective exchange rate (CEER) index
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Bank of Canada Workshop “Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal”
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Bank of Canada calls for nominations for the 2018 Fellowship Program awards
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Bank of Canada increases overnight rate target to 1 per cent
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Bank of Canada scholarship encourages women to consider careers in economics and finance
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Bank of Canada publishes its 2018 schedule for policy interest rate announcements and the release of the Monetary Policy Report
New York Fed
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The New York Fed DSGE Model Forecast—August 2017
Michael Cai, Marc Giannoni, Abhi Gupta, Pearl Li, and Argia Sbordone This post presents our quarterly update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast and its change since May 2017. As usual, we wish to remind our readers that the DSGE model forecast is not an official New York Fed forecast, but only an input to...
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What Drives International Bank Credit?
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At the New York Fed: The Appropriate Government Role in U.S. Mortgage Markets
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Just Released: Introducing the SCE Labor Market Survey
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“Hey, Economist!” How Was Your Ph.D. Internship?
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Counterparty and Collateral Policies of Central Bank Lending Facilities
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Just Released: More Credit Cards, Higher Limits, and . . . an Uptick in Delinquency
RBNZ
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Reserve Bank policy a key driver in economic performance
Release date 30 August 2017 The Reserve Bank’s monetary policy has been an important driver in the last five years behind above-trend growth in the economy and employment, Reserve Bank Governor Graeme Wheeler said today in a speech. Speaking to the Northern Club in Auckland, Mr Wheeler said that the New Zealand economy has generally performed well in the last five years. “It’s been a remarkable five years, especially with the...
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RBNZ appoints Assistant Governor, Head of Operations
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Inflation targeting practices similar across central banks
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New release video series for Money Week 2017
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Official Cash Rate unchanged at 1.75 percent
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Simple, conservative approach for prudential supervision
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External expert reviews forecasting processes
Bank of International Settlement
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Basel III definition of capital – Frequently asked questions
The Basel Committee periodically reviews frequently asked questions (FAQs) on its standards and publishes answers to these together with technical elaboration of the rules text and interpretative guidance where necessary. These aim to promote consistent global implementation of Basel III. The FAQs published in this document correspond to the definition of capital sections of the Basel III standards and the 13 January 2011 press release on the...
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BIS Quarterly Review, September 2017
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Basel III Monitoring Report
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How important is the Global Financial Cycle? Evidence from capital flows
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Implications of fintech developments for banks and bank supervisors – consultative document
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Informal one-sided target zone model and the Swiss franc
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Effects of capital controls on foreign exchange liquidity
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