Archive for April 30th, 2012

How Tom Sargent’s human capital got hit because of rational expectations revolution…

April 30, 2012

IMF’s online research bulletin has started a new feature – Conversations with Visiting Scholars.  It usually covers  literature survey on select topics.

The first such interview is with Tom Sargent, 2011 The Prize winner.

He points how the extended unemployment benefits is a trap and points how his human capital got hit:


RBI’s Balance Sheet and Liquidity Management

April 30, 2012

This is the title of my new paper.

I am slowly trying to build on some foundation built while analysing RBI’s WSS (released here as Part -1 and Part -2).

This one looks at changes in RBI’s balance sheet over the years and links it to liquidity management of RBI. It is a complex process but have tried to simplify it as much as possible.

Comments/suggestion are welcome..

Remembering Milton Friedman on his 100th Birth anniversary

April 30, 2012

Milton Friedmanwas born on 31-Jul-2012. 2012 also happens to be the 50th anniversary of his famous publication – Capitalism and Freedom.

Allen Sanderson of U of Chicago remembers Friedman in this nice tribute (HT: Mankiw’s Blog).

Loved this quote from the note:

If you put the federal government in charge of the Sahara Desert, in five years there’d be a shortage of sand


How beer created Belgium…

April 30, 2012

Those who think the title is a joke, it isn’t.. it is serious stuff. Atleast that is what authors claim…

Koen Deconinck and Johan Swinnen write this paper showing how taxes on beer helped create the boundary between Belgium and Netherlands..


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