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Home / Tag Archives: Economics – macro, micro etc

Tag Archives: Economics – macro, micro etc

MARTIN Gets a Bank Account: Adding a Banking Sector to the RBA’s Macroeconometric Model

Anthony Brassil, Mike Major and Peter Rickards in this Reserve Bank of Australia paper add banking to Martin  – macroeconomic model of the central bank: We add a simplified banking sector to the RBA’s macroeconometric model (MARTIN). How this banking sector interacts with the rest of the economy chiefly depends on the extent of loan losses. During small downturns, losses are absorbed by banks’ profits and the resulting effect on the broader economy is limited to that caused by the lower...

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Platform-based business models and financial inclusion

Karen Croxson, Jon Frost, Leonardo Gambacorta and Tommaso Valletti in this BIS paper discuss different types of finance platforms and their impact on financial inclusion: Three types of digital platforms are expanding in financial services: (i) fintech entrants; (ii) big tech firms; and (iii) increasingly, incumbent financial institutions with platformbased business models. These platforms can dramatically lower costs and thereby aid financial inclusion – but these same features can give...

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Heterogeneous Impacts of Sentencing Decisions

Andrew Jordan , Ezra Karger , Derek Neal in this Chicago Fed paper discuss the impact of sentencing on crime: We examine 70,581 felony court cases filed in Chicago, IL during the period 1990-2007. We exploit case randomization to assess the impact of judge assignment and sentencing decisions on the arrival rates of new charges. Relative to prior research, we document an important source of heterogeneity in the impact of incarceration on recidivism. Incarceration creates lasting...

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Pulse as a biometric measure of wellbeing

Alex Bryson and David Blanchflower have written a paper on using pulse as a measure of well-being. A growing literature identifies associations between subjective and biometric indicators of wellbeing. These associations, together with the ability of subjective wellbeing (SWB) metrics to predict health and behavioral outcomes, have spawned increasing interest in SWB as an important concept in its own right. However, some social scientists continue to question the usefulness of SWB...

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Kazakhstan unrest highlights continued importance of offline payments

Lewis McLellan in this OMFIF piece points how Internet outages in Kazakhstan rendered digital payments useless: Civil unrest in Kazakhstan has led to widespread internet blackouts throughout the country, with the country’s largest city Almaty going five days with no internet. Many Kazakh citizens rely on traditional digital payment methods like debit cards to buy food, but without internet connections, these were rendered useless. Local media have reported long queues for ATMs and...

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IFSCA GNLU Certificate Course on Financial Market Laws

International Financial Services Centres Authority and Gujrat National Law University have started offering a joint program on Financial Market Laws: The commercial dialogue among the business entities is incomplete without financial communications. The role of law specifically the financial market (laws and regulations) are significant to regulate the financial activities of the business entities in the financial market. Since 1991, with the liberalised economic policy (Indian Budget...

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Explainer: An overview of RBI’s efforts to encourage retail investment in debt markets

My new piece in Moneycontrol where I explain RBI’s ongoing efforts to encourage retail investment in debt markets. This entry was posted on January 11, 2022 at 12:07 pm and is filed under Academic research & research papers, Central Banks / Monetary Policy, Economics - macro, micro etc, Financial Markets/ Finance, Indian Economy/Financial Markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a...

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Macroeconomic Research, Present and Past: Becoming more interdisciplinary and borrowing from micro..

Philip J. Glandon, Kenneth Kuttner, Sandeep Mazumder & Caleb Stroup in this NBER paper summarises macro research over the last 40 years: How is macroeconomic research conducted and what is it trying to accomplish? We explore these questions using information gleaned from 1,894 articles published in ten leading journals. We find that over the past 40 years there has been a growing emphasis on increasingly sophisticated quantitative theory, such as DSGE modeling, and papers employing...

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What drives and derails central bank independence?

Davide Romelli of Trinity College Dublin has written a paper on the political economy of central bank independence. LSE Business Review blog summarises the paper: We then use a political economy framework to identify five sources of reforms: (i) status quo bias, (ii) external inducements, (iii) crises and shocks, (iv) ideology and political factors and (v) economic conditions. The results show that the lagged level of central bank independence or status quo, as well as regional pressures...

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The price of nails since 1695: A window into economic change

Daniel E. Sichel in this NBER paper analyses the price of nails since 1695. He uses it as a way to explain economic change over 3 cent This paper focuses on the price of nails since 1695 and the proximate source of changes in those prices. Why nails? They are a basic manufactured product whose form and quality have changed relatively little over the last three centuries, yet the process for producing them has changed dramatically. Accordingly, nails provide a useful prism through...

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