Archive for August 10th, 2011

Germany lifts ban on long distance bus trips

August 10, 2011

Cowen points to this interesting article.

I was amazed to know Germany had banned intercity travel buses to protect its train system. People could only take trains to travel to German cities. And all this in a country which produces amazing vehicles and buses:

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Euro Builder Ends His Career on a Bitter Note

August 10, 2011

Nice profile of Jean Claude Trichet.

 Jean-Claude Trichet, the president of the European Central Bank, has spent much of his career building and defending the euro. But now, in a bitter twist, it looks as if his career may well end with the common currency in shambles. ….A lifelong civil servant who wraps his sangfroid and political toughness in French courtliness, Mr. Trichet generally gets high marks for the way he has managed the central bank. He may be the most influential public official on the Continent, the person who most embodies the dream of a single coin for the European realm.

But recent days have also highlighted what some critics say are policy mistakes by Mr. Trichet, or at least the institution he leads. And just as Alan Greenspan went from being lionized to lacerated after his years at the Federal Reserve were quickly followed by the global financial collapse, these missteps threaten to tarnish Mr. Trichet’s legacy. Mr. Trichet may be remembered “as a charming and talented leader who failed to grasp the gravity of the crisis,” said Charles Wyplosz, a professor of economics at the Graduate Institute in Geneva.

The crisis has been unkind to so many policymakers…

Suddenly all their years of hardwork and credibility has gone in smoke. Though Trichet is still better off compared to Greenspan. The journey of one of the most (or the most) reverred central banker to one of the most hated has been an amzing U turn…

Impact of economics blog in disseminating research

August 10, 2011

David McKenzie and Berk Özler of World Bank are doing a series of research assessing impact of economics blogs (HT: Cowen).

Their first set of results looks at whether blogs lead to increased dissemination of research papers. (pdf here). People hardly read econ papers:

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