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Tag Archives: Discussion

Due to diplomatic crisis, Qatar currency not a legal tender in international airports…

Spotted this notice in Bangalore airport on Monday morning: How Qatar’s diplomacy crisis effects the legal tender aspect of Qatar currency. Suddenly, the currency is not acceptable for exchange at international airports. I am not sure whether all countries follow this and who decides whether the currency will be legal tender or not at international markets. The mind went back to this Terminal movie where Tom Hanks lands in US only to realise his passport is invalid. This is...

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How to decide composition of Central Bank Board? A case from Belgium central bank…

How Governments keep thinking of ways to intervene in central banks is quite something. The way demonetisation was conducted in India was a wake up call on importance of  Central Bank Boards. ECB is not just a central bank but also adviser to national European central banks both which have joined Euro or are members of European Union. In this space, the other central banks keep asking ECB for advise for instance on limits of cash usage and so on. It was interesting to read this recent...

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If Trump is so bad, how come equity markets are so stable?

The superb Gulzar blog has a mid-week linkfest (previous week) in which he points to this starting thing. The Trump administration has been mostly condoned by one and all. However, one barometer proves all this wrong. This is is the equity markets which ahs emerged as one of the key benchmarks for comparing everything. Any policy or action is usually judged in terms of stock markets. If markets are fine so is the action is the general call of things. However, this blog does not really...

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What is its working at a sprawling bitcoin mine in Inner Mongolia (China)..

Superb piece about a firm behind bitcoin mining. The article is quite in the Coasean spirit. People often talked about markets but Coase saw that most exchanges are actually governed by firms. Which led to one of the most amazing insights of economics that it is firms which via lower transaction costs enable exchanges. Likewise, we talk about how cryptocurrencies shall usher in a new world of decentralised digital currency and lead to better monetary markets. But we really do not look at...

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Learning Game theory the Sholay way…(are happy endings just Nash Equilibrium audience likes to see?)

What started as a series of Tweets has become a very interesting Mint column today. Avinash Tripathi explains game theory basics using one of the iconic scenes of iconic movie Sholay: This month Sholay will complete 42 years of its celluloid existence. As a Bollywood blockbuster and a cultural phenomenon, its enduring charisma needs explanation. Besides crisp dialogue, its deft portrayal of human emotions—from sublime loyalty to visceral revenge—has received critical acclaim. What has...

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Comparing central banking to symphonies..

Nice speech by  Mr Nestor A Espenilla, Jr, Governor of Bangko Sentral ng Pilipinas. He cites several awards given to the Philippines central bank recently and says it is all due to team work: Ladies and gentlemen of the BSP, we accomplished this together.  BSPers, past and present, lahat may kontribusyon!  As I keep saying, the BSP is not a one-man band. The individual and the institutional awards we receive belong to ALL BSPers across the country – mula Luzon, Visayas at Mindanao!...

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How women started but got crowded out of the computing revolution…

One just blogged about women stockbrokers in NYSE. Then was reading this article by Tamal Bandypadhyaya on how with each subsequent data, men are being seperated from boys in Indian banking. To this Bindu Ananth  of IFMR Trust tweeted and rightly so : “Given that a majority of banking assets are managed by women CEOs, the title needs editing”. Indeed! As one finished Tamal’s piece, popped another piece from Stephen Mihm in Bloomberg View. He writes how computing or software coding was...

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Christanity: How an obscure oriental cult in a corner of Roman Palestine grew to become the dominant religion of the Western world?

Michael Kulikowsky (Professor of history and classics at Pennsylvania State University) has a piece on the topic: Apart from the small and ethnically circumscribed exception of the Jews, the ancient world had never known an exclusivist faith, so the rapid success of early Christianity is a historical anomaly. Moreover, because some form of Christianity is a foundational part of so many peoples’ lives and identities, the Christianisation of the Roman empire feels perennially relevant –...

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How Haiti Dollar is just imaginary money…

Federico Neiburg of Museu Nacional, Universidade Federal do Rio de Janeiro has a superb research piece (HT: JP Koning who else). Haiti Dollar is just imaginary money. The currency is neither traded or exchanged but used as a unit of account. So you buy/sell anything in Haiti, you will be quoted prices in Haiti Dollars but paid in some other currency! I examine here a singular feature of the Haitian monetary universe: the generalized use of a currency without any material existence, past...

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Infosys saga further dents image of corporate governance in India’s top firms….

Unbelievable scenes in the op echelons of India’s corporate sector. There is a simmering corporate governance crisis in firms that were once seen as Synonyms for ethical governance. After the Tata Saga, comes the Infosys saga and this one is even more strange, The promoters of Infosys made big noises on how the firm will not be run by family members and will be run Professionally. However, in just a few years one of the promoters keeps looking for ways to come back to the firm. Today...

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