Gia đình Sonhanhhaha

https://www.project-syndicate.org/commentary/three-reasons-for-fed-interest-rate-increases-by-martin-feldstein-2018-12?fbclid=IwAR2zGije7NQYxemP7CGSSISGqGWec01fhlHn_cTdBm_Pr4FLoqG2HLETEw4 Given that the US Federal Reserve has long said that its interest-rate policy is “data dependent,” why has it pressed ahead with monetary tightening in the face of worsening economic indicators? Three reasons stand out. CAMBRIDGE – Earlier this month, the US Federal Reserve’s policy-setting Federal Open Market Committee (FOMC) voted unanimously to increase the short-term interest rate by a quarter of a percentage point, taking it from 2.25% to 2.5%. This was the fourth increase in 12 months, a sequence that had been projected a year ago, and the FOMC members also indicated that there would be two more quarter-point increases in 2019. The announcement soon met with widespread disapproval. Critics noted that economic growth has slow...

Source: http://www.viet-studies.com/kinhte/FutureNotChina_FT.pdf Do not extrapolate from the recent past. China has had a hugely impressive four decades. After their triumph in the cold war, both the west and the cause of liberal democracy have stumbled. Should we conclude that an autocratic China is sure to become the world’s dominant power in the next few decades? My answer is: no. That is a possible future, not a certain one. The view widely held in the 1980s that Japan would be “number one” turned out to be badly mistaken. In 1956, Nikita Khrushchev, then first secretary of the communist party of the Soviet Union, told the west that “We will bury you!” He proved utterly wrong. The examples of Japan and the Soviet Union highlight three frequent mistakes: extrapolating from the recent past......

Source: http://www.viet-studies.com/kinhte/CoreInflationVN_August%202018.pdf  The paper develops robust measures of core inflation for Vietnam that can be used in policy-making. These core inflation measures (CIMs) are based on an analytical evaluation of the inflation process in the country, and use a filtering approach to narrow down potential measures that satisfy certain empirically desirable criteria. The study finds that commonly used exclusion-based measures (EBMs) do not perform well against these empirical criteria; trimmed mean measures (TMMs) do better. Among TMMs, “one trim does not fit all periods” — periods of high and variable inflation require larger trims, and vice versa. The econometric computer programmes employed in the paper allow for quick and timely replication of CIMs as new data become available, making them valuable tools for the State Bank of Vietnam. These procedures and programmes can also be ...