Archive for May 14th, 2012

Why have a central bank at all?

May 14, 2012

House Domestic Monetary Policy subcommittee held a hearing recently on Improving the Federal System (HT: John Taylor Blog).

There are very interesting testimonies/papers there. I just read this one from Austrian school economist – Peter Klein. He says the issue is not of reforming Fed, but why have it at all in the first place?

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Why Economic History Matters?

May 14, 2012

A super interview of Simon Johnson of MIT. In thebrowser.com tradition, he picks five books and helps understand many things in the process.

First why econ history?

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A Message from Argentina for Euro-Zone Countries..

May 14, 2012

There is lots of stuff flowing from Argentina… Econs from┬áCEPR. –┬áMark Weisbrot and Juan Antonio Montecino wrote a note recently saying Greece should be taking lessons from Argentina. It should exit Euro and grow via the depreciation route as Arg did. They even say the grpwth in Arg post 2001 crisis was not purely a commodity driven one..

Carlos Zarazaga of Dallas Fed says the opposite. He actually warns the European leaders of the kind of costs one incurs post a debt crisis based on Argentina case study. The economy did grow post 2001 crisis but was more of a rebound from crisis:

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