Archive for May 23rd, 2011

How Fed communicated in 1920s via posters…

May 23, 2011

Liberty Street Economics Blog has a superb post on this.

Over the years, the Federal Reserve System has used many methods to communicate about the role it plays in support of stable prices, full employment, and financial stability. Current communication tools include the new press conferences by the Chairman, speeches by Bank presidents, public websites, economic education programs, local outreach efforts, publications, and blogs like this one.

Ninety years ago, however, the options were more limited. The Fed was still new and the nation’s economy was plagued by a growing number of bank failures. The five posters below (from the mid-1920s), with their images of strength and stability, were part of a larger series designed for display at member banks. They were likely intended to inform the public about the Federal Reserve System and foster confidence in its member banks.

Thanks to the San Francisco Fed archive for making the posters available.

Check the link.

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Are India’s Cities in a Housing Bubble?

May 23, 2011

This is the title of my new paper. Comments/suggestions are welcome..

Swiss approach to tacking too big to fail (TBTF) problem

May 23, 2011

Thomas Jordan of Swiss National Bank gives this nice speech on the topic. The detailed report is here.

He says the idea is not to stifle financial firms. But to protect taxpayers money:

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UPA-II report to people 2010-11

May 23, 2011

There is lots in the media on this topic today. Mostly people are disappointed (And rightly so) with the current government.

Here are the links of the report:

I just had a few things to discuss.
 
First from Highlights of the Report. It first says:

SEBI’s objective and functions – a legal perspective

May 23, 2011

Dharmishta Raval (ormerly an Executive Director at SEBI) has this superb paper on the topic. Securities Exchange Board of India or SEBI is a capital market regulator of India. One would usually assume papers on SEBI would be in area of finance etc. However, there some strong legal linkages as well and one is amazed how much it is a legal body as well and has been designed accordingly. Raval was  instrumental in drafting the SEBI Act and is an authority on the subject.

She says India set up few regulators post 1991 reforms to regulate and develop markets independent of the government.

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