Liquidity Preference And Loanable Funds, Revisited - Paul Krugman Blog - NYTimes.com

In next week lecture I will talk of the monetary transmission mechanism and the term structure of interest rate. An useful starting point (or end point): Liquidity Preference And Loanable Funds, Revisited - Paul Krugman Blog - NYTimes.com. Cheers

"Fetters of gold and paper"

From Shaakira Karolia

This article from VoxEU, by crisis experts, Barry Eichengreen & Peter Temin, is particularly interesting as it uses the context of the gold standard during the Great Depression with reference to the current crisis in terms of the global imbalances in existence. This also brings to mind the much promulgated idea that most crises are, in all actuality, not drastically different...

More explanations of the recession

I will introduce some of the explanations given to the international financial crisis: the debate is still open and the discussion very interesting - here you find more ideas by leading economists on what can generate financial crisis : Risk panics: When markets crash for no apparent reason.

The meaning of independence

A very interesting article from Adam Posen: it will be very useful when we will discuss Central Bank independence. Please keep in mind the following statement:


"The only way that central banks can credibly commit to price stability over the long-term is to
maintain a political constituency in civil society supportive of such a policy regime.That
support from civil society, not any legal statute, is what protects central banks when they make a
hard decision that angers politicians"


I hope we will have time to discuss this statement in the context of the South African debate about the independence of the central bank