From a paper by Yadavindu Ajit and Taniya Ghosh:

“This study examines the effects of inflation targeting on inflation levels, its volatility, and its persistence
in emerging market economies. To better estimate the dynamic treatment effects of inflation targeting,
the study uses a larger set of data, including 59 emerging market economies, an extended sample
spanning 1985-2019, and a methodology that takes into account the staggered adoption of inflation
targeting by these economies. Traditional models used in the literature failed to account for staggered
adoption, resulting in biased estimates. Inflation targeting has been shown to significantly reduce
inflation levels in emerging markets, especially when hyperinflationary economies are excluded. Results
indicate significant reductions in inflation three to four years after adoption. In comparison, the findings
for inflation volatility and persistence are more nuanced. Standard models indicate initial volatility
reductions, but models that account for staggered adoption show no significant long-term impact.
Moreover, inflation targeting has no significant impact on inflation persistence, even in more stable
environments. These findings highlight the effectiveness of using models that account for staggered policy adoption when evaluating long-term policy impacts, and they suggest that, while inflation targeting is a viable tool for reducing inflation in emerging markets, its broader effects on inflation volatility and persistence have been limited.”

From The Scotsman:

“Watching Chancellor Rachel Reeves’ maiden Budget and Mansion House speech, one thing was clear – this is a UK government focused on long-term economic growth.

Reeves’ plan to “invest, invest, invest”, and the provision of Scotland’s largest financial settlement since devolution demonstrates a clear government mandate to drive growth and boost investment both into and from Scotland.

This is a vision shared by the investment management industry, which channels some £1.4 trillion into the UK economy on behalf of households across the country. Our industry has a long heritage in Scotland. Edinburgh remains the second largest centre of investment management in the UK, managing £490 billion in assets, and the Scottish investment management industry employs about 13,000 people. Much to be proud of.”

Continue reading here.

From a paper by Florian Huber, Massimiliano Marcellino, and Tommaso Tornese:

“We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. We find that: initially, the fraction of low-earning workers decreases, while the share of households reporting low consumption increases; at longer horizons, the fraction of low-income workers increases, but the consumption distribution reverts to its pre-shock shape. While the first phase reduces income inequality and increases consumption inequality, in the second stage income inequality rises, while the effects on consumption inequality dissipate. Finally, we introduce Functional Local Projections and show that they yield similar results.”

From a post by Alice Evans:

“Did you know that Indian higher education has now achieved gender parity?

Below, I visualise data from the annual web-based All India Survey on Higher Education (2021-22). This shows the gender ratio enrolled in colleges within that state. Students may have migrated from other states.

Himachal Pradesh’s gender ratio now exceeds the USA, with women in the lead.

Female tertiary enrolment has surged!

Look back at the female-to-male ratio in higher education in 2012. There has been major progress towards gender parity. In Medicine, women have actually taken the lead.”

Continue reading here.

From a paper by Hammed Adetola Adefeso:

“The study investigates the role of governance on financial development and inequality nexus in African economies. Based on the system-Generalised Method of Moments (sys-GMM) on 41 African countries from 2001-2020. The empirical findings from the study are: (1) income inequality is highly persistent in the African countries; (2) financial development has insignificant increasing impact on inequality; (3) the interactive terms of financial development with control of corruption and rule of law have increasing impacts on income inequality implying that when there is rule of law and corruption is under controlled, given an increase in financial development will further widen inequality in the region. The study concludes by advocating for the need of good governance before income inequality can be reduced in Africa.”