Archive for January 22nd, 2014

Cutting the Gordian Knot or splitting hairs – the debate about breaking up the banks

January 22, 2014

Superb speech by Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank.

He starts with this tale of Guardian knot:

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Recovery from Financial Crises: Evidence from 100 Episodes..

January 22, 2014

Rogoff-Reinhart duo keep repackaging their huge hitoric macro/finance data to throw some interesting results.

In this paper they compare recoveries from financial crisis from 1o0 episodes:

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A Monetary Policy Rule for Emerging Market Economies..

January 22, 2014

Though am not such a fan of mon pol rules  as they are usually broken.

However, this piece by Alok Sheel (member PMEAC) has this nice piece in EPW. If not from a rules based perspective, he has this nice perspective on thinking about mon pol in EMEs.

He says much of policy thinking depends on these two frameworks – Mundell’s impossible trinity and Taylor rule. Policymakers want to use Taylor rule to change policy rates as per domestic conditions but are forced to do the opposite thanks to the trinity:

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