Archive for January 7th, 2011

Monetary Policy and the Role of Dissent

January 7, 2011

Is the title of this new speech from Tom Hoenig of Kansas Fed. He says dissent plays a critical role in monetary policy as it helps people know that Fed officials differ in their economic outlook. It is a sign of institutional strength not weakness.

Read the speech for more details.

Bureaucracy and Policymaking

January 7, 2011

Graham Wilson of Boston University has this nice paper on the topic. Being from India, there is always an interest in bureaucracy. It is present in all walks of life in India.

This paper starts with importance of bureaucracy and how it leads to policies. More importantly, it touches on decline in bureaucracy in policymaking in 3 countries – Japan, US and UK.

First bureaucracy is important as policymaking and implementation cannot be separated.

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Govt. raises wages under Mahatma Gandhi NREGA

January 7, 2011

Ministry of Rural Development increased the wages under its NREGA program by 17-30%. The idea is to link wages to the ever rising inflation:

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