Accounts

Schumpeter superior to Smith

Schumpeter's creative destruction is better for understanding the nature of the US economy than Smith's invisible hand and perfect competition, according to new research from the Philadelphia Federal Reserve.

ECB's Gonzalez-Paramo on the National Accounts

In a speech on the measurement of economic phenomena, with special reference to the System of National Accounts given on 2 February Jose Manuel Gonzalez-Paramo of the ECB said undoubtedly, globalisation is proceeding at a rapid pace, and statisticians…

BOJ current-account balance may fall below target

The balance of current accounts at the Bank of Japan is expected to drop below the 30-35 trln yen liquidity target today, to around 28.3 trln yen, the Nihon Keizai Shimbun reported on Wednesday 3 August, citing an unnamed source at the central bank.

Olson on bank challenges with low interest rates

In a speech on 'Bank Management Challenges in a Low-interest-rate Environment' Mark Olson of the Federal Reserve said the most pronounced effect of the current climate has not been prominent in the headlines but is well known to the industry. We have…

Norges Bank's accounts for 2002

PRESS RELEASE - Norges Bank's annual accounts for 2002, released 20 February, show a deficit of NOK 24.1 billion, compared with a deficit of NOK 4.7 billion in 2001. No transfer will be made to the Treasury from the Transfer Fund.

Former Kenyan governor is accused of being racist

Kenya's former central bank governor Micah Cheserem was on Wednesday accused of making racist remarks. Businessman Kamlesh Pattni's lawyer alleged that Mr Cheserem told the parliamentary Public Accounts Committee that "Indians have ruined Kenya's economy…

RBZ launches new payment system

ZIMBABWE - Starting on November 18, the Reserve Bank of Zimbabwe (RBZ) will introduce an electronic transfer and settlement system (ZETSS) that will link Zimbabwe's commercial banks in the movement of funds among participating banks using settlement…

Postal body gets BOJ online clearance

JAPAN - The public corporation that will replace the state-run postal services next April in Japan will be able to settle accounts with private banks in real time, officials said over the weekend. By gaining access to the Bank of Japan's transaction…

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