Archive for April 11th, 2011

Celebrating Easter at Bank of England!

April 11, 2011

Central Banks are doing amazing things these days. Apart from serrious stuff of revamping their mon policy, they are aslo doing some fun stuff.

BoE is planning to organise an event in Easter holidays for the whole family:

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Applications of Behavioral economics in European Commission

April 11, 2011

Geary behavioural economics blog points (alas the blog has closed down) European Health and Consumer Directorate, in particular its consumer division, has been taking an active interest in behavioural economics. There have been two conferences (link here and here) discussing the subject and its applications.

There is a nice paper  by Emmanuele Ciriole, economist with the division summarising the policy applications. As one cannot extract text from pdf, I can just point to some highlights.

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How India’s financial markets have evolved and developed over the years?

April 11, 2011

K.P. Krishnan  (at Capital Markets Division of the Department of Economic Affairs, Ministry of Finance)  writes a paper tracking developments in various segments of India’s financial markets

The paper is good as it covers a lot of ground covering many segments of financial markets. However, its policy suggestions are questionable given the global crisis.

It begins looking at research measuring financial development in general and in India. The summary is:

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Should economists be worldly philosophers?

April 11, 2011

Robert Shiller and Virginia Shiller (Robert Shiller’s wife) have written this nice paper looking at economists in this crisis.

Shiller couple argues that economists have lost their worldly philosophical ways. Earlier economics was taught along with philosophy and other social sciences streams.  Now they have been divorced with economics becoming more specialised and technical over the years. THis has both positives ane negatives. Positive is their field has become more enriched with more and more research. Negative is economists have been unable to link various dots and missed seeing the crisis coming.

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