Archive for November 22nd, 2010

Navi Mumbai airport cleared on hope!

November 22, 2010

One only gets to see these things in India. Despite many criticisms against the Navi Mumbai airport site, it gets final clearance from Environment Ministry.  The press release is here.

There is a nice timeline of events since 1997 when talks of second airport in Mumbai started. So it has taken us 13 years  to get an airport in a city like Mumbai! And that too is going to be a puny (just 60 million passengers in full capacity). Going by India’s project delays and corruption the final costs are likely to be what it would cost to build an airport 4 times the size.

The first site for second airport was Rewas Mandwa. The press release says Navi Mumbai airport was proposed as a site in 2000. The idea was Rewas Mandwa does not have adequate infrastructure and Navi Mumbai is within Mumbai Metropolitan Region. There are so many airport sites which are unviable to begin with….It is amazing how this was taken as an argument.



Globalization of Ideas

November 22, 2010

Here is a superb short note on the topic from Dallas Fed econ – Anthony Landry. He points how ideas can help in the global growth process.

First what is an idea?


What is a useful central bank?

November 22, 2010

Norges Bank hosted a conference on the topic.

Jan F. Qvigstad, Deputy Governor of Norges Bank in Words of welcome tracks the history of Norway’s central bank.

I read this Paper from Michael Bordo. It is a nice brief on history of central banking.

Bordo looks at the cycle of central banking from glory to abyss and then again a rise.It is much like the business cycle. In good times it is glorified and then loses its charm in bad times.  


RBI Communications and Monetary Policy – A review of recent measures

November 22, 2010

This is the title of my new paper. Comments/Criticisms most welcome.

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