Wednesday, July 22, 2009

Market-maker of last resort

BookValue
Global Economic & Financial Crisis
Arjun Jayadev and Anush Kapadia
(http://www.orientblackswan.com/)

Two-fold challenge

At the current fluid juncture, the central bank ought to have the ability to `take the punch bowl away from the party,' that is, undertake counter-cyclical actions, say Arjun Jayadev and Anush Kapadia in one of the articles included in Global Economic & Financial Crisis: Essays from Economic & Political Weekly.

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