Archive for November 29th, 2010

Independent Evaluation Office to assess impact of Indian Government’s Flagship Programmes

November 29, 2010

Planning Commission has set up a new office  – Independent Evaluation Office to assess impact of Government’s Flagship Programmes.

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Comparing China’s real estate market with Japan’s

November 29, 2010

Bank of Japan has a very decent series of short research notes called BoJ review series. I was reading this short note on recent surge in real estate prices in China. The authors compare this rise to Japan’s price rise in 1970s and 1980s and the eventual bust.

Real estate prices have surged in China. They declined in this crisis but increased as crisis eased. The large Chinese stimulus promoted bank lending also played a major role. The prices of premium homes has risen much more compared to economic homes which are under State’s control.  This let State to pass some measures to control the rise:

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In search of a robust monetary policy framework

November 29, 2010

ECB Chief economist Jürgen Stark gives a decent speech on the topic. He reviews the key thoughts on central banking before this crisis and what has changed after the crisis. In the end so typically of all ECB members, he says ECB’s framework is suitable to deal with risks that have emerged from this crisis.

First, what was the pre-crisis consensus? There were 3 broad elements:

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