Archive for August 13th, 2018

Increasing diversity at Central banks: From being an old boys club to cultivating younger people, women, and minorities…

August 13, 2018

Prof Paola Subacchi in this Apr-2018 piece laments lack of diversity at central banks and their thinking.

She says most advanced economy central banks are like old wine in a new bottle. They just wish to continue legacy left behind by their predecessors.

Yet, even as central banks face important transitions, the choices of their new leaders have reflected a desire for continuity. Most obvious, Kuroda has been confirmed for another five-year term at the BOJ, and Zhou was replaced in March by his own deputy governor, Yi Gang. Even Yellen’s successor, Jerome Powell, will probably amount to more of the same.

ECB is in a different territory though. The successor to Draghi will be a contentious issue given the politics of the region:

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The ‘how’ and ‘why’ of the Venezuelan crisis: Is the evil intent of government behind the crisis?

August 13, 2018

A hard hitting piece by Prof Ricardo Hausmann on Venezuela crisis.

He says it does not make sense why the collapse happened as govt could have clearly avoided or made better choices. As nothing makes sense, one can say it was the evil intent of the government which is behind the crisis:

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The Culture of Coffee in Costa Rica

August 13, 2018

Interesting piece on how coffee is central to most things in Costa Rica:

At the end of the 18th century, coffee came to Costa Rica for the first time. It was also the first Central American country to develop this important crop. In those remote times, our country had subsistence agriculture, but with the arrival of coffee in these lands, the way of thinking of the Costa Ricans began to change.

The richness of Costa Rica lies in the cultural diversity of its people: coffee is a culture in itself with a tradition built day by day, with a gained value for the people who are dedicated to its cultivation.

Costa Rican coffee is the main engine of development for the national economy. It was from almost the birth of the country as an independent nation, that coffee cultivation in the mid-nineteenth century had social and cultural consequences.

Legal Protection: Liability and Immunity Arrangements of Central Banks and Financial Supervisors

August 13, 2018

Interesting paper by Ashraf Khan of IMF.

We rarely talk about this aspect of central bank governance and accountability. Whether and how the laws protect the officials and staff of central bank:

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Teaching economics in today’s world

August 13, 2018

Prof Deepanshu Mohan of OP Jindal University on the topic:

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