Archive for December 10th, 2013

Value of being connected to Timothy Geithner during 2008 crisis..

December 10, 2013

This is easily one of the nastiest papers one can read. It is written by top econs like Acemoglu, Simon Johnson and so on. So cannot even ignore it.

The paper actually targets Timothy Geithner’s appointment as Treasury Secretary during 2008. They show how firms which were connected to him gained as news of his appointment streamed in:

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How states talk back to Washington and strengthen American Federalism..

December 10, 2013

John Dinan of Wake Forest Univ writes this nice paper on the topic.

Federalism is by far one of the most important topics as it has a mix of everything in it. However, there is hardly enough research on the topic.

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IMF asks Argentina to be more honest with its inflation and GDP numbers..

December 10, 2013

Got this interesting press release from IMF in my mailbox today.

The International Monetary Fund’s Executive Board met today to consider the Managing Director’s report on Argentina’s progress in implementing remedial measures to address the quality of the official data reported to the Fund for the Consumer Price Index for Greater Buenos Aires (CPI-GBA) and Gross Domestic Product (GDP).

While noting that Argentina has not adopted the measures called for by the Fund to address the inaccurate provision of CPI-GBA and GDP data, the Executive Board recognized Argentina’s ongoing work and intention to introduce a new national CPI in early 2014. The Board also noted that Argentina is working to address the shortcomings in its GDP data.

In light of these developments, the Executive Board adopted a decision calling on Argentina to implement specified actions to address the quality of its official CPI and GDP data according to a specified timetable. The decision calls on Argentina to implement an initial set of specified actions, including the public release of a new national CPI and revised GDP estimates, by end March 2014.

IMF’s relation with Argentina is like this saga of sorts. Keeps going and going..Argentina too never learns its lessons..


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