The Unassuming Economist

From a paper by Istvan Abel & Pierre L. Siklos:

“Stabilising properties have always been an important aspect of monetary policy implementation, albeit with due recognition of the economic environment. We develop a simple theoretical model to evaluate the main elements in the choice of policy strategy aimed at inflation control. While the analytical framework is useful to assess different monetary policy frameworks, our focus is the flexible inflation targeting framework that provides a role for exchange rate fluctuations. Empirical evidence, relying on Taylor rules, suggests that monetary policy has been practiced with considerable flexibility in Hungary and has contributed to business cycle stabilisation.”

From Business Standard:

“Flip through any magazine or coverage of Bangladesh’s RMG sector, and you’ll inevitably spot a smiling woman—representing the heart and soul of the industry. Yet, the lived experiences of these women tell a different story—one where their representation on factory floors and in leadership roles is steadily shrinking.

The ready-made garments (RMG) sector has been the driving force behind Bangladesh’s economic rise, propelling the country to become the world’s second-largest garment exporter. Women have been at the heart of this success, making up 80% of the workforce in the 1980s. Fast forward to today, and that figure has dropped to just 53.65% (Jenns, 2023). The situation is even more concerning in leadership, with only 9% of managerial roles held by women between 2010 and 2018 (Uddin, 2021).

This raises a crucial question: Why, after contributing so much to the sector’s growth, are women still not moving up the ladder? Societal norms, family expectations, and organizational barriers have created a glass ceiling, preventing women from reaching their full potential. To truly unlock the sector’s power, we need to break down these barriers and open the door for women to step into leadership roles.”

Continue reading here.

From a paper by Vicente Ferreira, Alexandre Abreu, and Francisco Louçã:

“Over the period of 2021–2024, inflation has resurged and then retreated in most industrialized countries. Economists were divided into two main camps: team transitory, which argued that inflationary pressures were primarily cost-push and would tend to fade away as supply disruptions eased, and team permanent, which viewed it as a predominantly demand-pull process and warned about the risks of persistent second-round effects associated with an overheated labor market. This paper covers this theoretical debate on the origins of inflation and contrasts it to the available empirical evidence for the Euro Area, laying out several inconsistencies in the New Keynesian argument proposed by team permanent. Since that was, nevertheless, the predominant interpretation among central bankers, including the ECB, this paper also discusses the impacts of monetary policy decisions informed by the New Keynesian view, arguing that there is good reason to believe that it has had regressive consequences in terms of the functional distribution of income as well as differentiated impacts across Euro Area core and periphery countries.”

From The Economic Times:

“India Inc Friday condoled the passing away of former Prime Minister Manmohan Singh, saying he had conceptualised India’s resurgence with pathbreaking reforms across all areas of the economy.

The Federation of Indian Chambers of Commerce and Industry (FICCI) termed Singh as the architect of India’s economic liberalisation and the father of economic reforms, recognising his contribution to introducing the Liberalisation, Privatisation and Globalisation (LPG) reforms in 1991.

“With his visionary leadership, he set India on a new journey of growth, all-round development and global engagement. Alwa ..

Under his leadership as finance minister and later as prime minister, India witnessed unprecedented economic growth and emerged as a global economic powerhouse, FICCI said in a statement.

“His visionary policies and unwavering commitment to inclusive growth have left an indelible mark on India’s economic landscape,” it said.”

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From Devdiscourse:

“The World Bank Group Scorecard FY24, published by the World Bank Group, offers a comprehensive plan to tackle today’s most critical global challenges. From addressing poverty and inequality to combating climate change and strengthening infrastructure, the report serves as a key guide for achieving sustainable growth and shared prosperity. It highlights the institution’s role in fostering global resilience amid ongoing economic uncertainties, pandemics, and geopolitical shifts.

A Renewed Focus on Poverty Eradication and Shared Prosperity

The World Bank Group continues to lead global efforts to eradicate extreme poverty and promote equitable economic opportunities. Aligning its strategies with the Sustainable Development Goals (SDGs), the Scorecard underscores the importance of fostering inclusive growth.

The report highlights the growing urgency to address systemic inequalities while building robust safety nets for the most vulnerable populations. These measures are critical for achieving stability and equitable access to education, healthcare, and economic resources, ensuring that no one is left behind.”

Continue reading here.