Archive for January 8th, 2015

The protesters who are trying to upend the ‘fantasy world’ of economics..

January 8, 2015

Nice article in WaPo by jeff Guo (HT: INET).

At the ongoing annual American economics conference in Boston, there are a few students who are protestign against mainstream economics:

There were leaflets, a manifesto, and this warning: “On campus after campus, we will chase you old goats out of power. Then, in the months and years that follow, we will begin the work of reprogramming the doomsday machine.”

On Friday, on the eve of the annual meeting of The American Economic Association in Boston, attended by many of the top economists in the United States, the agents of the heterodoxy had come to declare war on the profession. The small group threw their messages onto the side of the Sheraton Boston in glowing, six-foot tall letters: “BEFORE ECONOMICS CAN PROGRESS, IT MUST ABANDON ITS SUICIDAL FORMALISM.”

“The projection’s looking great,” said Keith Harrington, bearded, bespectacled, and bundled-up, as the sun set in the subzero weather.

“It’s a twelve-thousand lumen projector,” said Kyle Depew, who had schlepped the suitcase-sized thing from New York that day.

🙂 All the best folks..

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How do men and women behavior differ in terms of confidence?

January 8, 2015

Women usually are low on confidence compared to men.

Good Morning America reporter Claire Shipman and BBC anchor Katty Kay have written a book called – The Confidence Code: The Science and Art of Self-Assurance—What Women Should Know.

Here is an interview of Ms Kay where she discusses their research findings:

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Designing exhange rate policy in the presence of hawala markets

January 8, 2015

Interesting paper by  R. Kavita Rao and Suranjali Tandon of NIPFP. The paper is highly technical though and one loses the message. The math could have been slipped to appendix. The paper also explains the functioning of hawala market.

Hawala market is a way to send payments across borders skipping the main banking system. This undoes all the policies on current account and exchange rate:

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