Archive for August 20th, 2018

The note issuing Central banks were privacy providers, in digital money their role is of privacy regulation

August 20, 2018

Brilliant paper by Charles Kahn of St Louis Fed. It is easily one of the most thoughtful papers on role of central banks in digital currency era.

The conclusion of the paper sums up:


Enhancing central bank communications with behavioural insights

August 20, 2018

A superb collaborative paper by researchers at Bank of England and Behavioral insights Team.

They try and understand whether simplifying the message in BoE’s Inflation Report leads to more people reading and understanding the analysis. Not surprisingly, simplifying helps a great deal:


Teaching money/macro in 90 minutes

August 20, 2018

Scott Sumner attempts the impossible: teaching money/macro in 90 minutes.

A few weeks ago I gave a 90-minute talk to some high school and college students in a summer internship program at UC Irvine.  Most (but not all) had taken basic intro to economics.  I need to boil everything down to 90 minutes, including money, prices, business cycles, interest rates, the Great Recession, how the Fed screwed up in 2008, and why the Fed screwed up in 2008.  Not sure if that’s possible, but here’s the outline I prepared:

1.  The value of money (15 minutes)

2.  Money and prices  (20 minutes)

3.  Money and business cycles (25 minutes)

4.  Money and interest rates (15 minutes)

5.  Q&A (15 minutes)

He actually covers all this in 75 mins leaving 15 mins for Q&A. He says that he managed to finish about 90% of what he wanted to say, which is quite impressive given the wide variety of macro/money topics.

For those who say they cannot explain Macro in 30 lectures (1.5 hours each), Prof Sumner provides a snapshot of how to cover main ideas in just 75 mins…

Meet the “men” on the Central Board of Reserve Bank of India

August 20, 2018

Gradually the media is exerting some kind pf pressure on RBI Central Board to be more open and transparent in its conduct. And rightly so as we have only begun to realise that the Board is responsible for bulk of RBI’s major policies. Atleast that is what the Act says. This blog has written several pieces on RBI Board recently:

This piece by Sriharsha Devulapalli in Mint analyses the RBI Board today and how it has evolved since 1999-2000.


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