OMFIF UPDATE – WEEK 12 2019
18 – 22 Mach 2019 Vol.110 Ed.12
Brazil on rough road to reform
Last month the Brazilian government presented its ‘New Social Security’ proposal to Congress. The government says the reforms are necessary to spark economic growth, though critics argue the new system would put excessive strain on the poor. The approval process will be far from smooth, writes Gustavo Rangel.
Impact of automation on the labour market
Daron Acemoglu, professor of economics at the Massachusetts Institute of Technology, and Georgios Petropoulos, research fellow at Bruegel, join OMFIF’s Danae Kyriakopoulou.
They discuss the impact of shifts in technology on labour markets, and whether these will be negative or positive on balance.
Developments in the US economy
The Federal Reserve surprised markets by announcing that it would put interest rate rises on hold. Patrick Harker, president and chief executive officer of the Philadelphia Fed, will discuss the US economy, global macroeconomic developments and the Fed’s monetary policy outlook.
Gender Balance Index 2019
This tracks the presence of men and women in senior positions of public financial institutions globally. Gender diversity in central banks has improved by six percentage points since 2018, but the overall picture remains heavily unbalanced, much more so than the equivalent in the private side of the financial sector.
Trump must ‘get real on trade’
If Trump’s fiscal deficits are not offset by an increase in private savings relative to private investment, increases in the federal deficit will translate into larger trade deficits.
Trump will then be responsible for the homegrown trade deficit. It’s time for the president to get real on trade, writes Steve Hanke.
In conversation with Nellie Liang
Mark Sobel, US chairman of OMFIF, speaks with Nellie Liang, senior fellow in economic studies at the Brookings Institution.
They discuss developments in macroprudential regulation in the US since the 2008 financial crisis, including policy-makers’ key tools, the role of stress tests and future policies.
Europe’s uncertain trajectory
The meeting will allow informal exchanges between senior public and private sector market participants.
It will explore Europe’s economic outlook and US and European monetary developments. Further topics include the end of quantitative easing, geopolitics, and key challenges for the German economy.
Next financial crisis may eclipse 2008
It is difficult to forecast precisely when the next global economic recession will happen. It is much easier to predict its severity, writes Desmond Lachman.
According to the IMF, the global debt to GDP level is 250% – around 30 percentage points higher than it was on the eve of the 2008 financial crisis.
Future of the EU-UK relationship
Yanis Varoufakis, former Greek minister of finance, will discuss macroeconomic developments in Europe and challenges facing the region, including the threat posed by economic slowdown, the low-yield environment, implications of Brexit, and the rise of populist governments.
Analysing Mexico’s economic outlook
With a change of government in Mexico, questions are being raised about the country’s financial stability. This roundtable will assess how the outlook for Mexico has changed, the monetary policy implications of the government’s reform packages, and wider issues on the Banco de México’s agenda.