Economics

Sri Lankan deputy on John Exter's legacy

W. A. Wijewardena, the deputy governor of the central bank of Sri Lanka, spoke on Monday about the how the ideas of the central bank's founder, John Exter, remained relevant today.

Russia wants Czech governor Tosovsky to head IMF

Russia has nominated Josef Tosovsky, the former head of the Czech National Bank and the current chair of the Bank for International Settlements' Financial Stability Institute, to take over from Rodrigo Rato at the International Monetary Fund (IMF).

Central bank gold sales to approach limit

Members of the central bank gold agreement (essentially the eurozone plus Sweden and Switzerland) have sold 396 tonnes in the first 10 months of the "gold year", as much as the total for the whole of last year.

Paper on the new Keynesian Phillips curve

The Richmond Federal Reserve Paper, Inflation dynamics of the new Keynesian Phillips curve, derives the log-linear approximation of the inflation dynamics in the Calvo-model when the average inflation rate is positive.

RBA's Stevens testifies to lawmakers

The Reserve Bank of Australia's governor, Glenn Stevens, and three senior officials were grilled on the impact of subprime, models used for forecasting and the prospects interest rates in an election year at this House of Representatives hearing.

Gono denies parallel trading by central bank

Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has denied reports that the central bank is tapping unofficial currency markets in search of foreign currency, notably dollar and South African rand.

Independence nothing new - Jamaican governor

Local media reports the governor of the Bank of Jamaica, Derek Lati-beaudiere, played down plans from the Jamaica Labour Party, the country's main opposition party, for an independent central bank.

Canada investigates inflation, wages and growth

A new working paper published by the Bank of Canada looks at the relationship between steady-state costs of inflation in a general equilibrium model, output growth and staggered nominal price and wage contracts.

Greenspan to advise Deutsche Bank

Deutsche Bank, the German investment and retail bank, announced on Monday that it will retain Alan Greenspan, the former governor of the Federal Reserve, as a senior adviser.

Central banks continue to plug markets

On Friday, central banks around the world engaged in an orchestrated effort, initiated by the European Central Bank (ECB) and the Federal Reserve a day earlier, to keep money markets afloat amidst wide-spread fears of a global credit crunch.

India limits overseas borrowing

In an attempt to stem the rise in the rupee, the Reserve Bank of India said that companies borrowing overseas cannot remit more than $20 million to India in a single financial year.

IMF report on the US

The International Monetary Fund (IMF) has said the US economy should shake off the effects of the housing market decline and expand by almost 3% by the middle of 2008.

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