Archive for February 13th, 2010

RBI’s first international research conference

February 13, 2010

Some speeches and presentations are up on the website:

Presentations and speeches

February 12, 2010
Andrew Michael Spence – Challenges to Central Banking in the Context of Financial Crisis (unedited transcript)
Dr. D. Subbarao – Challenges to Central Banks
Irma Rosenberg – The Impossible Trinity
John C Williams – Two Cheers for Bagehot
Jorgen Elmeskov – Credit Freeze, Dysfunctional Markets
Krishna Srinivasan – Crisis & Implications
Lars E. O. Svensson – Inflation Targeting
Stephen Cecchetti – Future of Public Debt presentation
Stephen Cecchetti RBI Graph
Stephen S Roach – The Post-Crisis Fix
Day 2 February 13, 2010
Concluding Remarks by Mr. K U B Rao

Papers are available here

Haapy weekend reading. Some interersting insights on capital controls being revisited and supported.

Salaries of Central Bankers….

February 13, 2010

Via Marginal Revolution via Cheapseatecon via Kathylien

Ben Bernanke (U.S.): $191,300 (in 2008) 

Hmm, well it’s not the most, but it’s definitely not a small sum (It’s actually really bad for the amount of hours he puts in, almost charity work). How does that stack up to the rest of the world? Jean-Claude Trichet (EUR): $446,806 (EUR 351,816 in 2008) 

 Mervyn King (U.K.): $435,000 (GBP 290,000 in 2008) 

 Masaaki Shirakwa (JPY): $370,000 (in 2007) 

 Mark Carney (CAD): $350,000 max (in 2008) 

 Glenn Stevens (AUD): $160,000 (AUD 200,000 in 2008) 

 Alan Bollard (NZD): $378,000 (NZD 540,000 in 2007) 

Jean Pieere Roth (SNB) : $725,468 last year 

 And who is the highest-paid central banker in the world? 

 Joseph Yam (HK): $1.32 million (HK$10.33M in 2007) 

 So the Chair of the Federal Reserve, the most powerful central bank in the world, makes close to the least amount of money…that’s harsh.

Moving to a higher inflation target

February 13, 2010

The blogpost points that IMF economists – Olivier Blanchard, Giovanni Dell’Ariccia, and Paolo Mauro – have written a new paper on rethinking about macroeconomic policy.

I have not read the paper but the contents say it all:


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