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Published / Preprint: Evolutionary Model of the Personal Income Distribution

March 31, 2012 by MoneyScience   Comments (0)

The aim of this work is to establish the personal income distribution from the elementary constituents of a free market; products of a representative good and agents forming the economic network. The economy is treated as a self-organized system. Based on the idea that the dynamics of an economy is governed by slow modes, the model suggests that for short time intervals a fixed ratio of total labour income (capital income) to net income exists (Cobb-Douglas relation). Explicitly derived is...

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Blog Post: TheAlephBlog: When Correlations Rhyme

March 31, 2012 by MoneyScience   Comments (0)

Before I start this piece let me give you a blast from the past, the columnist conversation comment that I most frequently reprint, from this post:read more...

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Monetary Policy Week in Review - 31 March 2012

March 30, 2012 by CentralBankNews   Comments (0)

The past week in monetary policy saw 5 banks announcing reductions to their official interest rates: Morocco -25bps to 3.00%, Belarus -200bps to 36.00%, Romania -25bps to 5.25%, Albania -25bps to 4.25%, and Kazakhstan -50bps to 6.50%.  The Bank of Zambia also announced its new benchmark interest rate would be set at 9.00%.  Those that held monetary policy settings unchanged were: Israel 2.50%, Turkey 5.75%, Hungary 7.00%, Georgia 6.50%, the Czech Republic 0.75%, South Africa 5.50%, and Uruguay 8.75%.

Looking at the central bank calendar, the week ahead sees the central banks of Uganda, Australia, Kenya, Poland, the EU, and UK meeting to review monetary policy settings.  The main market moving banks will be the RBA, ECB, and BoE, though none are likely to make any major moves.  Elsewhere the US Federal Reserve's FOMC releases its March meeting minutes on Tuesday, and the Swiss National Bank puts out its annual report on Thursday.

Bank of Uganda
Reserve Bank of Australia
Central Bank of Kenya
National Bank of Poland
European Central Bank
United Kingdom
Bank of England

IMPORTANT NOTICE: The Central Bank News website is presently for sale, if you are interested please click through for more details.

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Blog Post: BCMstrategy: The Risk Telescope ' Delhi, Copenhagen & DC

March 30, 2012 by MoneyScience   Comments (0)

On opposite sides of the world in the last 24 hours global leaders laid out their respective visions for the trajectory of global economic policy.  Leaders from Brazil, Russia, India, China and South Africa met in New Delhi yesterday and issued the “Delhi Declaration.”  EU and eurozone leaders (and their finance ministers) met in Copenhagen, and Eurozone leaders issued a statement today.  In between, physically and philosophically, sit the International Monetary Fund (IMF) and the United...

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