Read more about the article Podcast – Monetary policy, climate change and inequalities: should central banks expand their policy toolkit?

Podcast – Monetary policy, climate change and inequalities: should central banks expand their policy toolkit?

In the current context of persistent inflationary pressures and growing uncertainties about the economic outlook, many central banks have mainly focused on their mandate of price stability through more aggressive monetary policies. In addition, the growing concerns linked to climate change and inequalities have shaped the policy discussions related to expanding the traditional mandates of central banks (price stability and/or maximum sustainable employment) to take into account major ethical issues in the design and implementation of monetary policies such as climate change and inequalities. In this podcast, Otaviano Canuto, senior fellow at the Policy Center for the New South, shares his insights on the role of central banks in the current context and whether they should expand the monetary policy toolkit to include climate change and inequalities.

Continue ReadingPodcast – Monetary policy, climate change and inequalities: should central banks expand their policy toolkit?
Read more about the article Financial Globalization and Inequality

Financial Globalization and Inequality

Inequality is nowadays one of the most important issues facing many economies around the world, not only in developing countries but also in advanced and emerging ones. Today, there is a new evidence that has been highlighted by several economists and international institutions and that shows that the fight against rising inequality is not only beneficial from an equity, political and social point of views but it is also beneficial from an economic point of view and can boost economic growth in the long run. In this podcast, Mr. Otaviano Canuto, Senior fellow at the Policy Center for the New South and a former vice-president at the world bank joined our economist Hamza SAOUDI to discuss the root causes behind the increase of within countries inequality and the main policies that African countries should prioritize in this critical time so to ensure a sustained and inclusive recovery.

Continue ReadingFinancial Globalization and Inequality
Read more about the article Global inequality

Global inequality

The global trend towards increasing globalization since the 1990s seems to have had two different distributional consequences: income inequality between countries has declined, while economic inequality within countries has increased. However, technological progress has made the biggest contribution to rising income inequality over the past two decades. Domestic policies – fiscal policies, social protection - are the locus where inequality is to be tackled.

Continue ReadingGlobal inequality
Read more about the article Central Banks and Inequality

Central Banks and Inequality

As in the period after the 2007-08 global financial crisis, voices have been raised talking about monetary policy and central banks as drivers of income and wealth inequality. The unconventional policies of “quantitative easing” protect the holders of financial assets and value their properties, while workers cross a rough patch on the real side of the economy. Financial markets have disconnected from hardships in the street of commons, with the help of the policies of monetary authorities. Does it make sense to assign an impact of concentration of income and wealth to central bankers' policies? It's complicated...

Continue ReadingCentral Banks and Inequality
Read more about the article Globalization and inequalities: what we have learned from international experience

Globalization and inequalities: what we have learned from international experience

CEBRAP - Centro Brasileiro de Análise e Planejamento São Paulo Advanced School of Social Sciences - Session #01 [March 23th, 2018] Lecture: "Globalization and inequalities: what we have learned from international experience", by Otaviano Canuto [The World Bank].

Continue ReadingGlobalization and inequalities: what we have learned from international experience