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Tag Archives: Academic research & research papers

Plurality in Teaching Macroeconomics

Prof Rohit Azad of JNU in this paper argues for plurality in teaching macroeconomics: For economists, the Great Recession—the worst crisis the world has seen since the Great Depression of the 1930s—has highlighted the need for plurality in macroeconomics education. Ironically, however, there is a move towards greater insularity from alternative or contrasting points of view. Whereas, what is required for vibrant policymaking is an open-minded academic engagement between contesting...

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Do political parties matter for ethnic violence? The Congress and Hindu-Muslim riots in India

Interesting and higjy controversial research by three researchers -Gareth Nellis , Steven Rosenzweig and Michael Weaver. The Congress Party in India makes the claim that it appeals to a wider multi-ethnic populace and tries to prevent the religious riots. What does the evidence show? We find that in places where Congress narrowly wins in these closely fought races, Hindu-Muslim riots are much less likely to occur – and lead to fewer casualties – than in places where they narrowly lose....

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Financial Benchmarks India Pvt. Ltd (FBIL): A new organisation to shape India’s government bond and forex markets

Economics textbooks that usually tell you that all you need is a buyer and seller for markets to work on their own. Financial markets are often cited as examples of such markets. But this is so far from reality. We need several systems and organisations to ensure financial transactions between buyer and seller. The so called stock exchange itself is not really a market as we know it but actually a firm which has several other supporting firms and “things” to facilitate the trades. In...

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Bank examiners’ expertise and their role in monitoring and disciplining banks during the panic of 1893

Profs Charles Calomiris and Mark Carlson in this paper (ungated older edition) figure whether bank examiners and their inspection add value: In this paper, we find that the subjective information gathered by the bank examiners of the national banking era while conducting their examinations was important in shaping their overall assessments of the bank and were informative about the condition of the bank. We find that the part of overall expected losses that we attribute to this...

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Financial engineering will not stabilise an unstable euro area

Without the basics in place, Financial engineering can only delay the inevitable. Profs. Paul De Grauwe and Yuemei Ji on fin engg in Euro area: We have argued that various recent proposals aimed at stabilising the euro area via financial engineering do not eliminate the inherent instability of the sovereign bond markets in a monetary union. During crises this instability becomes systemic, and no amount of financial engineering can stabilise an otherwise unstable system. The proposals...

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Temperature and human capital in India

Three researchers – Teevrat Garg , Maulik Jagnani  Vis Taraz – in this piece: A large proportion of the population in India has agrarian livelihoods that remain climate-exposed. The number of hot days per year in the country are expected to double by the end of this century. This column shows that higher-than-normal temperatures in a particular year lead to a contemporaneous reduction in agricultural incomes, and large negative impacts on children’s human capital outcomes in the...

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The Gordon Gekko effect: The role of culture in the financial industry…

This is a brilliant paper by Prof. Andrew Lo of MIT. It was written in 2016 and somehow missed it all this while. The paper is written for financial industry but applies to nearly all walks of life. I mean even applies to Australian cricket team which has shocked the cricket world with its conduct much like financial industry did after the financial crisis: Culture is a potent force in shaping individual and group behavior, yet it has received scant attention in the context of financial...

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Noam Chomsky on the Populist Groundswell, U.S. Elections, the Future of Humanity, and More

Chomsky is always intriguing to read and figure. His recent interview is nothing different. This one sums up: Lynn Parramore: You’ve been looking at politics and international relations for quite a long time. Over the decades, what are the continuities in these areas that stand out in your view? Noam Chomsky: Well the continuities are the message of the Athenians to Melos: “the powerful do what they wish and the weak suffer what they must” [from Thucydides’ History of the Peloponnesian...

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Video: Why Kerala has chosen the jackfruit as its official fruit

I had earlier blogged about how every bit of jackfruit can be utilised for something or the other. Fittingly, State of Kerala has chosen it as a state fruit. Advertisements This entry was posted on March 21, 2018 at 12:23 pm and is filed under Academic research & research papers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or...

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Did UK monetary policy spillovers to US during first age of financial globalisation (1880-1913)?

Food for thought post by Georgina Green of Bank of England (full paper here). She questions the conventional wisdom that UK monetary policy led to monetary spillovers to US in the first age if globalisation. We think of it other way round in second age of globalisation. What is interesting is how she uses the archival material with econometrics: In the first age of financial globalisation, from around 1880 to 1913, many countries tied their currencies to the mast of gold. The Bank of...

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