Archive for February 19th, 2013

Designing a Central Bank of Europe..

February 19, 2013

Harold James one of the leading eco historians, draws lessons from Federal Reserve history and offers suggestions  for ECB.

Do economists and policymakers know how to design a federal bank for Europe? Is there a template? This column explores the history of the US Federal Reserve, gleaning lessons for the future of the European banking system. Getting to grips with the historical and empirical details shows how different the two really are. Overall, evidence suggests that the mechanism of the TARGET system might well create demand for Europe to move further towards fiscal federalism. 

In early years, Regional Feds did their own thing:

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Profile of Stanley Fisher (Will he become Fed chief?)

February 19, 2013

Nice profile of Prof Stan Fisher who is set to retire as chief of Bank of Israel.

There are speculations that he might be asked to become chief of Fed. Bernanke’s term is set to be over in Jan-14 and people close to him suggest he is not interested in an extension. Interestingly, all  the major Central Bank chiefs have been students of Stan Fisher.  Bernanke, King, Draghi all studied at MIT under Prof. Fisher.

The article starts with nice quote from chief Bernanke:

Every August, central bankers from across the globe, who collectively pull the levers of the world economy, descend on Grand Teton National Park in Wyoming. They enjoy a symposium of big economic ideas and strenuous afternoon hikes. At one of their dinners a few years ago, Federal Reserve Chairman Ben S. Bernanke looked around at some fellow titans of finance.

“Do you know what everyone at this table has in common?” he mused. “They all had Stan Fischer as their thesis adviser.”

Nice light read..

5 or 5.5%? War over India’s GDP growth

February 19, 2013

I somehow missed commenting on this.

CSO recently shocked Indian economy followers by suggesting GDP growth for 2012-13 to be expected around 5%. The market expectations were 5.5%. A bit of background first before I get onto reactions.

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Internship at FinMin’s Dept of Expenditure..

February 19, 2013

I guess there is huge demand for Finmin’s internship programs. There is one by DEA (which has been there for a while), noted another one by Dept of Fin Services.

Now another one joins the race – Dept of Expenditure. This dept allows you to apply throughout the year. For Apr-May internships (which most of them are) final date is 15-Mar-12.

Pass on the word..

Good initiatives from FinMin depts


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