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	<title>Willem Buiter's Maverecon</title>
	
	<link>http://blogs.ft.com/maverecon</link>
	<description>Blog by Professor of European Political Economy, London School of Economics and Political Science</description>
	<pubDate>Sun, 22 Nov 2009 13:12:06 +0000</pubDate>
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	<language>en</language>
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		<title>Auditing the central bank: a jolly good thing!</title>
		<link>http://blogs.ft.com/maverecon/2009/11/auditing-the-central-bank-a-jolly-good-thing/</link>
		<comments>http://blogs.ft.com/maverecon/2009/11/auditing-the-central-bank-a-jolly-good-thing/#comments</comments>
		<pubDate>Fri, 20 Nov 2009 12:46:20 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Culture]]></category>

		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Ethics]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7751</guid>
		<description><![CDATA[What is so important about H.R. 1207: the Federal Reserve Transparency Act of 2009 aka the &#8216;Audit the Fed&#8217; bill? This bill &#8220;To amend title 31, United States Code, to reform the manner in which the Board  of Governors of the Federal Reserve System is audited by the Comptroller General  of the United [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/11/auditing-the-central-bank-a-jolly-good-thing/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Yapping away at gold:  lessons from the last days of the Rai</title>
		<link>http://blogs.ft.com/maverecon/2009/11/yapping-away-at-gold-lessons-from-the-last-days-of-the-rai/</link>
		<comments>http://blogs.ft.com/maverecon/2009/11/yapping-away-at-gold-lessons-from-the-last-days-of-the-rai/#comments</comments>
		<pubDate>Mon, 16 Nov 2009 00:53:02 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7706</guid>
		<description><![CDATA[
Mr Eliot Whitehead sent me the following e-mail message in response to my blog post &#8216;Gold - a six thousand year old bubble&#8217;:
&#8220;Regarding your FT article, Gold - a six thousand year old bubble, it would interest you to learn that Rai, somewhat since the end of WWII in the Pacific, no longer has value [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/11/yapping-away-at-gold-lessons-from-the-last-days-of-the-rai/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Gold - a six thousand year-old bubble</title>
		<link>http://blogs.ft.com/maverecon/2009/11/gold-a-six-thousand-year-old-bubble/</link>
		<comments>http://blogs.ft.com/maverecon/2009/11/gold-a-six-thousand-year-old-bubble/#comments</comments>
		<pubDate>Sun, 08 Nov 2009 18:02:40 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Environment]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7641</guid>
		<description><![CDATA[Gold is unlike any other commodity.  It is costly to extract from the earth and to refine to a reasonable degree of purity.  It is costly to store.  It has no remaining uses as a producer good - equivalent or superior alternatives exist for all its industrial uses.  It may have some value as a [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/11/gold-a-six-thousand-year-old-bubble/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Should central banks be quasi-fiscal actors?</title>
		<link>http://blogs.ft.com/maverecon/2009/11/should-central-banks-be-quasi-fiscal-actors/</link>
		<comments>http://blogs.ft.com/maverecon/2009/11/should-central-banks-be-quasi-fiscal-actors/#comments</comments>
		<pubDate>Mon, 02 Nov 2009 23:43:11 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7561</guid>
		<description><![CDATA[There are two reasons why the Fed, or any other central bank, should not act as a quasi-fiscal branch of the government, other than paying to the Treasury in taxes the profits it makes in the pursuit of its mandated macroeconomic stability objectives (maximum employment, stable prices and moderate long-term interest rates in the case [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/11/should-central-banks-be-quasi-fiscal-actors/feed/</wfw:commentRss>
		</item>
		<item>
		<title>The proposed European Systemic Risk Board is overweight central bankers</title>
		<link>http://blogs.ft.com/maverecon/2009/10/the-proposed-european-systemic-risk-board-is-overweight-central-bankers/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/the-proposed-european-systemic-risk-board-is-overweight-central-bankers/#comments</comments>
		<pubDate>Wed, 28 Oct 2009 00:34:30 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Culture]]></category>

		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Ethics]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7376</guid>
		<description><![CDATA[On September 25, 2009, the Commission of the European Communities produced a proposal for EU-level macro-prudential regulation and supervision, &#8220;Proposal for a Regulation of the European Parliament and of the Council on Community macro prudential oversight of the financial system and establishing a European Systemic Risk Board&#8221;. It looks as though the EU Presidency (Sweden) [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/10/the-proposed-european-systemic-risk-board-is-overweight-central-bankers/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Another quarter of negative GDP growth in the UK: situation hopeless but not serious</title>
		<link>http://blogs.ft.com/maverecon/2009/10/another-quarter-of-negative-gdp-growth-in-the-uk-situation-hopeless-but-not-serious/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/another-quarter-of-negative-gdp-growth-in-the-uk-situation-hopeless-but-not-serious/#comments</comments>
		<pubDate>Sat, 24 Oct 2009 22:36:52 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Ethics]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=7331</guid>
		<description><![CDATA[The difference between data and information has been underlined emphatically by the release on Friday, October 23rd, of the UK GDP data for the third quarter of 2009.  Those who make a profession out of providing point forecasts of future GDP had converged on a figure of +0.2% for the quarterly growth rate.  What came [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/10/another-quarter-of-negative-gdp-growth-in-the-uk-situation-hopeless-but-not-serious/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Time for the ECB to get serious about the overvalued euro</title>
		<link>http://blogs.ft.com/maverecon/2009/10/time-for-the-ecb-to-get-serious-about-the-overvalued-euro/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/time-for-the-ecb-to-get-serious-about-the-overvalued-euro/#comments</comments>
		<pubDate>Sun, 18 Oct 2009 12:03:52 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=6611</guid>
		<description><![CDATA[The euro has become a currency on steroids.  Its relentless nominal and real appreciation since the end of 2000 was briefly interrupted in the second half of 2008, but resumed with a vengeance during 2009.  The strength of the currency is hurting the exporting and import-competing sectors of the Euro Area.  Unemployment and excess capacity continue to [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/10/time-for-the-ecb-to-get-serious-about-the-overvalued-euro/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Kornai on Soft Budget Constraints, Bail-Outs and the Financial Crisis</title>
		<link>http://blogs.ft.com/maverecon/2009/10/kornai-on-soft-budget-constraints-bail-outs-and-the-financial-crisis/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/kornai-on-soft-budget-constraints-bail-outs-and-the-financial-crisis/#comments</comments>
		<pubDate>Wed, 14 Oct 2009 22:07:02 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[Ethics]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=6541</guid>
		<description><![CDATA[In a post a few days ago, (After subverting bank insolvency, our leaders are now about to make a mess of  liquidity) , I argued that hard budget constraints were the defining characteristic of a well-functioning market economy. Many/most of the advanced industrial countries were weakening or even undermining the capacity of their financial [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/10/kornai-on-soft-budget-constraints-bail-outs-and-the-financial-crisis/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Who speaks for Europe in the G-whatever?</title>
		<link>http://blogs.ft.com/maverecon/2009/10/who-speaks-for-europe-in-the-g-whatever/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/who-speaks-for-europe-in-the-g-whatever/#comments</comments>
		<pubDate>Sun, 11 Oct 2009 22:37:00 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Chindia]]></category>

		<category><![CDATA[Economics]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=6401</guid>
		<description><![CDATA[The G-7 (USA, Japan, Germany, UK, France, Italy, Canada) was taken off life support at the IMF - World Bank Annual Meetings. So was the G-8 (the G-7 plus Russia), although even fewer observers noticed or cared.  Since international organisations are never formally killed off, the G-7 and G-8 will simply be allowed to fade [...]]]></description>
		<wfw:commentRss>http://blogs.ft.com/maverecon/2009/10/who-speaks-for-europe-in-the-g-whatever/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Beware asset market &amp; credit booms bubbles &amp; busts in emerging markets</title>
		<link>http://blogs.ft.com/maverecon/2009/10/beware-asset-market-credit-booms-bubbles-busts-in-emerging-markets/</link>
		<comments>http://blogs.ft.com/maverecon/2009/10/beware-asset-market-credit-booms-bubbles-busts-in-emerging-markets/#comments</comments>
		<pubDate>Thu, 08 Oct 2009 15:40:15 +0000</pubDate>
		<dc:creator>Willem Buiter</dc:creator>
		
		<category><![CDATA[Chindia]]></category>

		<category><![CDATA[Economics]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Financial Markets]]></category>

		<category><![CDATA[International Trade]]></category>

		<category><![CDATA[Monetary Policy]]></category>

		<category><![CDATA[Politics]]></category>

		<category><![CDATA[UK Economy]]></category>

		<guid isPermaLink="false">http://blogs.ft.com/maverecon/?p=6321</guid>
		<description><![CDATA[I spent the past weekend in Istanbul at the seminar jamboree that precedes the IMF-World Bank Annual Meetings.  Ministers of finance, central bankers, government officials and international civil servants all agreed on one thing: there would be no premature exit from quantitative easing, credit easing and other unconventional expansionary monetary policy measures such as the [...]]]></description>
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