Archive for August 24th, 2012

Modelling risks to the financial system

August 24, 2012

Nice speech by Ms Agathe Côté, Deputy Governor of the Bank of Canada. 

She covers the recent issues with respect to modelling fin risks and what BoC is doing about it..

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Modelling risks to the financial system

August 24, 2012

Nice speech by Ms Agathe Côté, Deputy Governor of the Bank of Canada. 

She covers the recent issues with respect to modelling fin risks and what BoC is doing about it..

Arguing democracy and politics in India: role of intellectuals..

August 24, 2012

A nice paper by Sunil Khilnani of Johns Hopkins University. He discusses how intellectuals and thoughts shaped Indian democracy etc, in initial years:

I’d like this evening to talk about India’s democracy; the most expansive and arguably most significant experiment with democracy since the late eighteenth century. Habitually noted as a success of some sort, the Indian experiment is just as often absolved from serious interrogation. Following the political congratulations, intellectual condescension all too often settles in, in large part because the Indian case seems too exotic to understandings based on the Western experience. Indeed the emergence of India’s democracy is a direct challenge to the axioms of classical theory—particularly those which stress social homogeneity and political unanimity.

Superb account..

On a demographic consequence of the First World War

August 24, 2012

Super column by Guillaume Vandenbroucke. It is connected to the work on linking institutions with supply of labor by Elena Nikolova . In that work, Nikolova  showed inclusive instis are more likely to emerge when we have shortage of labour. One of the example was world wars where economies like US allowed voting for women to incentivise women as supply of men has decreased post World Wars.

This column by Vandenbroucke goes a step back and shows how labor force has declined post WWI. This was because of decline in fertility. The fertility in turn declines because of expectations over loss in income and productivity. He actually makes a model factoring these expectations and shows it resembles the actual trend fairly closely.

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