Archive for May 8th, 2014

Will China become largest economy? …playing with and understanding PPP

May 8, 2014

There was recent news on how China will takeover US as the largest economy in 2014. Well this will be in PPP terms.

Kaushik Basu, World Bank’s chief econ has this interesting piece on the issue.

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History of Netherlands Central Bank and future outlook for central banks (which is highly confused)…

May 8, 2014

A really nice speech by Klaas Knot head of De Nederlandsche Bank, the central bank for Dutchland.

The speech is given celebrating 200 years of the bank, so there is some history to it. Knot then also looks at the future outlook for central banks in future. How DNB evolved from being a sleeping old lady to guardian of the gilder is an interesting story which I guess is common across most central banks.

He says neglect of financial stability as a goal is coming to haunt central bankers. After all the original purpose for most central banks was fin stability which then moved to price stability. With FS, there are two issues:

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Nine economic policy disasters and what we can learn from them

May 8, 2014

Came across this interesting book review. The book is titled Wrong: Nine Economic Policy Disasters and What We Can Learn from Them by Prof Richard Grossmanof Wesleyan University.

Prof. Grossman points to nine major policy mistakes:

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