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The Brazilian election and Central Bank independence

Carola Conces Binder, Ph.D. candidate, economics | September 27, 2014

Brazilians will head to the polls on Oct. 5 to vote in a tight presidential race. President Dilma Rousseff’s leading challenger is Socialist Party candidate Marina Silva. A key component of Silva’s economic platform is her support for a more independent central bank. Central bank independence, long a topic of interest to economists, is now capturing wide … Continue reading »

Should India fear the exchange rate-inflation Rakshasha?

Brad DeLong, professor of economics | August 31, 2013

Laura Tyson has a nice piece in Project Syndicate this morning about typhoon season for emerging market economies. With increasing signs the North Atlantic central banks will tighten over the next several years, forward-looking financial markets are incorporating that tightening into their pricing of emerging-market assets today. This means emerging-market central banks have three options: … Continue reading »

The Sword of Greenspan

Carola Conces Binder, Ph.D. candidate, economics | June 23, 2013

According to an ancient Greek parable, Dionysius, the tyrant of Syracuse, had a courtier named Damocles who complemented Dionysius on his wealth and power. Dionysius asked Damocles if he would like to experience the kingly lifestyle. Damocles accepted the offer, and was enjoying the great luxury, until he noticed, hanging above him by a single … Continue reading »