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Tag Archives: Academic research & research papers

Will the NARCL cleanse India’s banking system?

In press meeting yesterday (16 Sep 2021), FM Nirmala Sitharaman announced establishing and working of National Asset Reconstruction Company Ltd (NARCL). My article in Moneycontrol explaining the policy and whether NARCL will cleanse the banking system. The answer depends on getting many things right going forward.  Proof of pudding lies in its eating. This entry was posted on September 17, 2021 at 4:23 pm and is filed under Academic...

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How a dam was built on river Cauvery by M. Visvesvaraya and led to sharp criticism..

Bharat Ratna M. Visvesvaraya was born on 15 September 1860/1861. Prof Aparajith Ramnath of Ahmedabad Uni writes a superb account of how Visvesvaraya built the dam on river Cauvery against all odds. And how the expenditure on dam met with sharp criticism: Paris and the Eiffel Tower, San Francisco and the Golden Gate Bridge, Kolkata and the Howrah Bridge: some cities are fused in the imagination with iconic engineering works. If the more modestly sized city of Mysuru has such a...

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Will financial conditions be increasingly influenced by the news in Shanghai and Shenzhen alongside New York and London?

Nicole Adams, David Jacobs, Stephen Kenny, Serena Russell and Maxwell Sutton in this Reserve Bank of Australia Bulletin article reviews the developments in Chinese financial system. They point how the Chinese financial system is gradually becoming larger and more open to foreign competition. In near future, news in Shanghai and  Shenzen will influence global financial markets: Risks in China’s financial system remain elevated despite its economy’s strong recovery from...

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How the power of economic ideas led to Taiwan’s export-led growth

Douglas Irwin highlights the importance of economic ideas in pushing growth in Taiwan. Irwin starts with Krugman pointing to the role of ideas in pushing economic growth: In a recent New York Times piece, Paul Krugman discussed two drivers of the “hyperglobalization” era that began in the mid-1980s and lasted until the global financial crisis of 2008. These drivers are improved transportation technology (shipping containers and airfreight) and lower trade barriers (tariff reductions) in...

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Investing in mutual funds? Know the link between size of AUM and returns

Retail investing is rising for both individual stocks and mutual funds. Prof Parthajit Kayal of Madras School of Economics in this financial express article shares some advice for MF investors. He says investors should invest in small sized funds rather than larger counterparts: Academic studies have shown that mutual fund schemes with lower funds or assets under management tend to perform better than the popular mutual fund schemes with a large fund under management. In this article, we...

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50 years of Monetary Authority of Singapore

The list of anniversaries in 2021 keeps growing. 100th birthday of Dr Kurien and 75 years of Amul, 100th birthday of PV Narasimha Rao, 100 years of South African Reserve Bank, 100 years of Tamilnad Mercantile Bank 50 years of Bangaldesh, 30 years of India’s reforms, 25 years of IDRBT, 5 years of Indian Bankruptcy Code, There must be many more which I am missing. In 2018, there were several anniversaries as well. 2021 marks the 50 years of Monetary Authority of Singapore as well Prior to...

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Pofile of Solomon Hsiang, who uses big data to inform climate change policies..

Interesting profile of Prof Solomon Hsiang of University of California Berkeley (pronounced Shung): Solomon Hsiang is a smart man. He listens to his wife. Over breakfast a day or two after the California pandemic lockdown in March 2020, Google researcher Brenda Chen asked a question. Couldn’t her husband’s Global Policy Laboratory at the University of California, Berkeley, shed some light on the world’s fight against COVID-19? “A lab called ‘the Global Policy Lab’ should be able to...

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Monetary and fiscal complementarity in the US during the Covid-19 pandemic

Jagjit S. Chadha, Luisa Corrado, Jack Meaning and Tobias Schuler in this ECB paper analyse the monetary and fiscal policy during the In response to the coronavirus (Covid-19) pandemic, there has been a complementary approach to monetary and fiscal policy in the United States with the Federal Reserve System purchasing extraordinary quantities of securities and the government running a deficit of some 17% of projected GDP. The Federal Reserve pushed the discount rate close to zero and...

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Do Banks Price Environmental Transition Risks? Evidence from a Quasi-Natural Experiment in a Chinese Province

Bihong Huang ; Maria Teresa Punzi ; Yu Wu in this IMF working paper: This paper assesses the financial risks arising from transition toward a low-emission economy. The environmental DSGE model shows tightening environmental regulation impairs firms’ balance sheets, and consequently threatens financial stability in the short term. The empirical analysis indicates that following the implmentation of Clean Air Action Plan, the default rates of high-polluting firms in a Chinese province...

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How Raghuram Rajan, Urjit Patel differ on greening of central bank policies

My new article on Moneycontrol. The two former RBI Governors recently expressed their views on whether and how central banks should address climate change.  The piece sums their views and suggests way forward for central banks. This entry was posted on September 14, 2021 at 9:39 am and is filed under Academic research & research papers, Central Banks / Monetary Policy, Economics - macro, micro etc, Financial Markets/ Finance, Indian Economy/Financial...

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