Economics
Crisis down to global imbalances: Obstfeld, Rogoff
Maurice Obstfeld and Kenneth Rogoff say global imbalances key source of crisis
Nepal to welcome foreign banks: report
Senior central banker quoted as saying Nepal will allow foreign banks to operate in the jurisdiction from the New Year
Fed does not respond to oil price shocks: CEPR paper
CEPR paper argues against the standard view that Fed’s policy responses to oil-price-led inflation caused economic instability
Nobel laureate Paul Samuelson dies at 94
Paul Samuelson, a key figure in the development of economics, passes away at home in Massachusetts on Sunday
RBI’s Subbarao pushes for financial inclusion
Reserve Bank of India’s Duvuuri Subbarao wants all villages with more than 2,000 people to have a banking outlet by early 2011
Financial education for all: RBI’s Chakrabarty
Reserve Bank of India deputy says education is crucial for the public and the central bank will expand outreach
Explaining wage stickiness
Bank of Estonia research suggests workforce composition, factors in individual countries and a positive relationship with competition all explain the downward rigidity of earnings
‘Nothing to fear but FEER itself’: CEPR paper
Centre for Economic Policy Research paper argues that there are payoffs to be had with the more sophisticated versions of carry trade strategies
Australia benefiting from Asian strength: Battellino
Reserve Bank of Australia deputy governor Ric Battellino says strong domestic demand in Asia has driven growth, and allowed the region to forge ahead of the North Atlantic in recovery
Growth determinants revisited
International Monetary Fund research returns to the issue of cross-country growth empirics debate using a novel model
Former Fed economist calls for more stimulus
Ex-Federal Reserve official says focus must be on providing up to $6 trillion more monetary stimulus rather than exit strategies
Japan’s recovery to be moderate: Shirakawa
Bank of Japan’s Masaaki Shirakawa cautious on economic recovery
Eurozone lending tightened in October
European Central Bank reports decrease in the growth of credit to the private sector
Monetary policy in preventing boom-bust housing cycles
Bank of Canada paper argues that central banks should react less to inflation and more to output to avoid making boom-bust cycles worse
US must adapt to maintain role in global debate: NY Fed VP
New York Federal Reserve’s Checki notes US’s hand in global developments is not as strong as it once was; says policy must reflect this
Controls cannot curb currency appreciation
Emerging markets must recognise the need to let their currencies appreciate, Ousmène Mandeng and Jerome Booth of Ashmore Investment Management argue
Fed behaviour matches optimal target rule
A discussion paper on the Fed and monetary policy rules argues that an optimal target rule, rather than the Taylor rule, best explains the central bank’s policy behaviour
Turkish credit conditions improving
Central Bank of Turkey’s policy minutes show strains in the country’s credit markets are easing
CentralBanking.com readers divided on recovery
CentralBanking.com subscribers split on time it will take to return to trend levels of growth snapshot shows
Interview with Donghyun Park
Donghyun Park, a senior economist at the Asian Development Bank, discusses reserve management post-crisis and fostering demand in Asia
Sri Lanka doesn’t fear loss of EU privileges: CB chief
The country has coped with the loss of previous trade privileges, says central bank head
Fiscal stimulus crucial for recovery
Centre for Economic Policy Research (CEPR) compares the Great Depression with the global credit crisis
Linking banks, bonds, and firm size
San Francisco Fed paper builds a model to see the effects of bank vs. bond financing on firm size
Economic and Financial Developments (November) – Bank of Japan
November instalment of the monthly report finds that the ongoing recovery is fragile and not a result of self-sustaining factors