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Were more financially open countries impacted higher in the 2007 crisis?
Andrew Rose of UCB’s answer is no. In this paper he looks at both multilateral and bilateral financial integration with US and sees no impact: I ask three questions, with a special focus on Asian...
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How to reform state of economics? Avoid Envying Physics…
Andrew Lo reflects on the state of economics and suggests what could be done to improve teaching in economics. He says the problem has been this economists fascination with Physics where things can be...
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Impact of crisis on marriage markets…
One central theme which has emerged recently is rising inequality across the world. The haves and getting richer and have-nots not as much. The result is rising inequality. This has been happening for...
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Economics – Pre-Crisis Consensus vs vs. Post-Crisis Confusion
This is the title of my new paper. Comments/Suggestions welcome.. Filed under: Academic research & research papers, Central Banks / Monetary Policy, Economics - macro, micro etc, Economist,...
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European Crisis: Whether economic knowledge helped?
A nice lecture by PIMCO’s Mohamed A. El-Erian at NBER-Sloan Conference on the European Crisis. He looks at whether econ know-how helped understand policy issues in European crisis: I recognize that,...
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Case of vanished states and a Republic which lasted just one day!!
An interview which Acemoglu/Robinson duo would really like. It is by Norman Davies a British historian. His latest book, Vanished Kingdoms, traces Europe’s extinct polities from the Visigoths to the...
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Evaluation of teaching public policy programs in East Asia..
A nice paper by Xun Wu, Allen Yuhung Lai (both of Lee Kuan Yew School of Public Policy) and Do Lim Choi of Chungnam National University. They evaluate public policy programs taught in East Asia. The...
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Role of an Economist in Economic Development..(Student vs Saviour)
Peter Boettke and Christopher J. Coyne of GMU have this nice paper on the topic. It also has some advice for current and wannabe econ advisers for government on development issues. They review the...
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Why reforms fail: Political-economy forces and agriculture in Africa
M. Ataman Aksoy of WBank has written this paper on the topic looking at reforms in Africa’s agricultural markets. He says the issue is not announcing reforms but sustaining them. What sustains reforms?...
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Honeybee Economics – Implications for Ecology Policy
What a brilliant paper by Vesa Kanniainen of University of Helsinki, Tuula Lehtonen of Finnish Beekeepers’ Association and Ilkka Mellin of Aalto University. It tells you about so many things about...
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Why good economic reforms could actually be bad news for ruling party…
There is large literature on political economy of reforms. Whether the ruling party wins on economics reforms? What kind of reforms? Should it highlight the reforms/growth or remain quiet? How should...
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Why can’t countries think like companies? (because both are different entities)
Well, countries can’t think like companies as two are very different entities. Just as we are told elephants can’t think like ants and vice-versa. It is surprising to read such pieces from public...
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World Bank tries to go the behavior way for development..
The change is happening gradually. World Bank’s annual World Development Report 2015 (WDR) is based on behavioral insights.. Development policies based on new insights into how people actually think...
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How Andhra Pradesh’s new capital (around village Thullur) is becoming a real...
Picture is worth 1000 words and economists should use them to make a point as well. S. Ananth, an independent researcher from Vijaywada has this superb pictorial article on the topic: The announcement...
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Become a public policy thinker in three easy steps..
Ajay Shah has a piece on this. Easier said than done but he has some nice ways to think about public policy. The three steps are: Step 1: What’s the market failure? Step 2: What’s the proposed...
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A rather precious public policy lesson for policymakers from top to bottom…
Good friend Anantha Nageshwaran sent this wonderful quote. It is by Dr. M Vidyasagar, ex-DRDO/TCS and presently teaching in US (how to retain such people to teach here). He seems to have said: One can...
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Markets have shrugged off poor monsoons in last decade..hence no problem?
In Indian economy, stock markets are a test for anything and everything. Whether any policy/event is good or bad is justified by stock markets. Rest does not matter. Once again, there are predictions...
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Traditional stock broking firms react negatively to discount brokerages..
Interesting article. Financial broking/trading industry thrives on other companies competing with each other and coming out with new products/services. After all that is what leads to increase in...
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Occam’s razor of public policy
Ajay Shah has a food for thought post on public policy: Occam’s razor is the idea that when two rival theories explain a phenomenon, the simpler theory is to be preferred. Aristotle’s epicycles fit the...
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How ideology has destroyed US economy over last 40 years..
J Bradford Delong says this based on his recent book on role of public policy ideology in decline of US economy: Since the mid-1970s, the US has ramped up spending on health-care administration by...
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