Monday, March 25, 2013

The angry optimist

............."There is no policy maker in the world who has targeted monetary policy on the basis of the current account deficit. Name one." He expounds on that, and says he's working on some research that examines, using the Taylor Rule, which central banks have done well and which done poorly in meeting their goals. His conclusion? "By far the worst central bank in the world in 2011 was the RBI.".........

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