tag:blogger.com,1999:blog-19649274.post2570352864876220190..comments2024-03-27T17:16:12.789+05:30Comments on The Leap Blog: A gentle introduction to exchange rate regimesAjay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-19649274.post-35452040706182791062008-04-15T23:10:00.000+05:302008-04-15T23:10:00.000+05:30RD,I have tried hard to figure it out and failed.I...RD,<BR/><BR/>I have tried hard to figure it out and failed.<BR/><BR/>In the central government, by and large the mood has swung to a point where it is understood that non-transparency is a bad thing. E.g. the RTI pretty much puts an end to efforts at hiding stuff. In contrast, in speeches by RBI staff, one still gets a sense of unreconstructed old-fashioned monetary policy, where there is a `mystique of central banking', where there is `constructive ambiguity', where discretion and nontransparency are better than rules and transparency, where there are "multiple objectives" so you have to be faithful and accountable to no objective, etc.<BR/><BR/>In most countries, central banks have been at the forefront of monetary policy reform. So far, that hasn't been the case at RBI. I have seen greater technical strength amongst younger people at RBI.Ajay Shahhttps://www.blogger.com/profile/03835842741008200034noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-32575726515782042642008-04-15T22:51:00.000+05:302008-04-15T22:51:00.000+05:30Ajay, what's your take on why the RBI is not trans...Ajay, what's your take on why the RBI is not transparent when it changes the volatility of the Rupee to the USD? Is it due to some economic of political reasons or is it the GoI just being herself.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-37994824142958277702008-04-14T19:43:00.000+05:302008-04-14T19:43:00.000+05:30Thanks! I fixed the broken link. Now the new versi...Thanks! I fixed the broken link. Now the new version works.Ajay Shahhttps://www.blogger.com/profile/03835842741008200034noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-40263867386120394002008-04-14T19:32:00.000+05:302008-04-14T19:32:00.000+05:30link does not work!:http://openlib.org/home/ila/PD...link does not work!:<BR/>http://openlib.org/home/ila/PDFDOCS/11182.pdfAnonymousnoreply@blogger.com