Archive for December 12th, 2013

CPI inflation gallops at 11.24% and IIP gallops (in the other direction) at (-)1.8%….

December 12, 2013

Just heard RBI Governor saying inflation has resurfaced. Not sure what he meant. For something to resurface, it has to disappear and then come back again . India’s case CPI inflation has never disappeared from the scene. Infact it keeps resurfacing via a higher number. Perhaps as a CEA, he looked at WPI and hence such a statement…

The recent economic data makes things worse. CPI inflation comes at 11.24% and IIP at -1.8%.

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How Turkmenistan introduced a new currency?

December 12, 2013

A superb research note by Åke Lönnberg of IMF.

Turkmenistan issued its new currency -Manat in 2008-09. The old currency was also under the same name. However, there were two parallel exchange rates running leading to problems in economy. As part of its overhaul of economy, the government also decided to issue a new currency:

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Why and where does Europe’s automobile industry get located?

December 12, 2013

Nice paper by Thomas Klier and Dan McMillen of Chicago Fed.

They probe the reasons for clustering of auto production in Europe:

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