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Tag Archives: Speech / Interviews

Europe: An economic powerhouse in the future?

Amidst all the gloom and doom in Europe, there are some optimists as well. In this speech, Denmark Central Bank Governor Lars Rhode, shares his more positive  outlook: Today, I would like to highlight four observations: First, Europe is better than its reputation. Economic performance keeps abreast with other advanced economies. The rumours of its demise are simply exaggerated. Second, all major advanced economies will have to adjust to lower potential growth. It’s a fact, as headwind...

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How to think like an economist?

Nice interview of Bill Dudley, outgoing President of NY Fed: http://libertystreeteconomics.newyorkfed.org/2018/06/hey-economist-outgoing-new-york-fed-president-bill-dudley-on-fomc-preparation-and-thinking-like-an.html He speaks on what it means to think like an econ and how econs differ in Wall Street and Policy: Q: Lawyers sometimes refer to ‘thinking like a lawyer.’ How would you describe what it means to ‘think like an economist?’ The classic joke is that economists are ‘on the one...

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The extraordinary ways weather has changed human history

Fascinating interview of Andrew Revkin who has written this book on history of weather. I mean how little we know of fundamental things such as weather which pretty much shape everything around us. I think that most of us feel like we’re pretty much in control most of the time. But one thing we can’t control is the weather. How much has weather determined the course of human history? On every level, climate change on long time scales has really powerfully shaped human history; it’s in...

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Monetary policy – end of history?

Sabine Lautenschläger of the ECB revisits Fukuyama’s famous phrase End of History and uses it for monetary policy: n 1992, the political scientist Francis Fukuyama announced the end of history. The cold war had just ended, and in Fukuyama’s view, this marked “the endpoint of mankind’s ideological evolution”. Liberal democracy had prevailed; the final form of government had been reached. There was no need for history to continue. Similar claims were made about monetary policy. The great...

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Vítor Constâncio, Vice-President of the ECB: 34 years as a central banker!

Nice interview of Vítor Constâncio, the VP of ECB. He spent 34 years of his professional life as a central banker. He was twice the Governor of Central Bank of Portugal from 1985-86 and 2000-10. How have you seen the relationship with markets and with banks change during your 34 years in central banking? Back when I began, the European financial system was much more bank-based than it is now. That was true everywhere, but it was particularly true in Europe. Monetary policy was totally...

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What is money exactly? Cod vs Code forms of money..

Jon Nicolaisen, Dep Governor of Norges Bank looks at features of money in this speech. In Slide 15, there is this neat chart of differentiating paper money with digital money. Norway’s banknotes have pictures of Cods on them for trust whereas digital currency has code for trust. So we trust both cods and codes. Slide 2 also has picture of the first banknote in Europe issued in Sweden. Overall a nice and useful speech on money.. Advertisements...

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Should Federal Reserve issue e-USD?

Central bankers of most advanced economies have spoken on the subject of digital currency.  Federal Reserve has been reticent so far. Thus, it is interesting to read this speech by Governor Lael Brainard of Federal Reserve. Should Fed issue an e-USD? …there is no compelling demonstrated need for a Fed-issued digital currency. Most consumers and businesses in the U.S. already make retail payments electronically using debit and credit cards, payment applications, and the automated...

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Andy Haldane: Will big data keep its promise?

One must try and read most speeches by Andy Haldane of Bank of England. He has a flair for summing up a topic in a lucid and detailed manner. In this speech, he looks at big data. How big data is like oil industry: The first thing to say is that Big Data and data analytic techniques are not new. Nonetheless, over recent years they have become one of the most rapidly rising growth areas in academic and commercial circles. Over that period, data has become the new oil; data analytic...

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Best investment books for beginners…

Yesterday Vicky asked me which economics books should one read? I said this is a difficult question given the vastness of the subject. It is much better to pick a topic within economics and then figure the best books. For instance, John Kay recommends 5 books on investing for beginners. He also shares key insights on investing and finance. Why just beginners, most of the 5 books will go in for expert reading as well. Advertisements...

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