Time Unlikely to be a Healer for Portugal's Economy

In a strict sense, the answer to this question has to be no and indeed the most recent turn of events have put Spain back in the spotlight much to the chagrin no doubt of the EU and IMF. Simply put, Portugal is manageable but Spain may turn out not to be. In this . . . → Read More: Time Unlikely to be a Healer for Portugal’s Economy

Caught out by Reality in Europe

The rumour mill is grinding particularly fast at the moment. Germany and France seem to be working on the famous nuclear solution, Spain plays tough on outsiders, the IMF is rumoured to be preparing an aid package for Italy not to mention Hungary and Austria (just like Belgium) has entered the rating agencies’ cross . . . → Read More: Caught out by Reality in Europe

Europe Uncertainty Plummets - Deal is Done

European Union leaders unveiled a deal early Thursday on debt crisis measures that includes a 50% loss on Greek bonds.

The agreement came at the end of a series of talks to finalize the details of a comprehensive policy response to the government debt and banking problems threatening the stability of the . . . → Read More: Europe Uncertainty Plummets – Deal is Done

Vijay Kelkar

Financial Express recently did a special feature about 20 interesting people in India’s economic reforms. In that, I wrote this profile of Vijay Kelkar.

Vijay Kelkar’s is a fascinating story in Indian public policy. He started out as an economics Ph.D. and turned himself into a consummate policymaker. While he did many interesting things . . . → Read More: Vijay Kelkar

Interesting readings

The frontiers of Nifty.

Next steps on the SEBI story: An interview with U. K. Sinha, by Puja Mehra and Rajiv Bhuva, in Business Today. Mobis Philipose in the Mint. Uproar over I-T raids on SEBI members, in Business Today. In probing SEBI board members, go by CVC rule: Abraham, by Sunny Verma, . . . → Read More: Interesting readings for July 7, 2011

Recruiting the right MD for the IMF

The recruitment of the IMF MD has turned into quite a controversy. For an interesting set of views, see this page on the website of The Economist. In a remarkable development, the EDs of India, China, Russia, Brazil and South Africa came out with a clear joint statement on the silliness that is afoot.

. . . → Read More: Recruiting the right MD for the IMF

Did the Indian capital controls work as a tool of macroeconomic policy?

Ila Patnaik and I wrote a paper titled Did the Indian capital controls work as a tool of macroeconomic policy?

The abstract of this paper reads: In 2010 and 2011, there has been a fresh wave of interest in capital controls. India offers an interesting setting for assessing the usefulness of capital controls. It has . . . → Read More: Did the Indian Capital Controls Work as a Tool of Macroeconomic Policy?

Random Shots – 2011 Musings Edition

I did have some plans to do a series of post to give a brief overview of my main macro and trade themes for 2011, but time has, not surprisingly, caught up with me. As such, you will have to make due with a special version of random shots.

Risky Assets to fly in . . . → Read More: Random Shots – 2011 Musings Edition

Markets Likely to Applaud Irish Bailout Terms

On Monday, markets will likely applaud the 85 billion euro bail-out of the Irish economy from the International Monetary Fund and European Union financing.

Over the weekend, the rescue package was approved at a meeting of European Union finance ministers in Brussels.

The overall financing includes up to 35 billion euro to support the . . . → Read More: Markets Likely to Applaud Irish Bailout Terms

Who is Next in the Eurozone?

The Eurozone seems to be the place where the party never ends these days as one skeleton after the other comes rattling out of the closet. Indeed, one has the impression that history is in the making these days and the only thing we can hope is that it will be for the better.

. . . → Read More: Who is Next in the Eurozone?