Tito Mboweni played a very important role in South African politics. He acted as both Finance Minister and central bank governor at different times. He passed away recently.
A heartfelt tribute to Tito by the current SARB Governor Lesetja Kganyago:
Archive for November 25th, 2024
Tribute to the late former Finance Minister and Governor of the South African Reserve Bank, Tito Mboweni
November 25, 2024r-g before and after the Great Wars 1507-2023
November 25, 2024We present new long-run samples of r-g series over centuries for key economies in the international financial system. Across a wide variety of econometric approaches, and including duration-matched constructions, we demonstrate strong evidence of trend stationarity in these series. Although we confirm trend stationarity, we find robust evidence of a major structural break in the first third of the 20th century.
A multi-century downward trend in r-g appears to have levelled off in the years around 1930, and since then r-g has shown high volatility coupled with clear upwards pressure: notably, though real interest rates may still appear favorably low, aggregate growth rates are drifting downwards in advanced economies since the interwar period, creating secular pressures on r-g and debt sustainability. Our results stand in contrast to much recent literature and suggest the need for much more caution in assuming benign trends in global public debt sustainability.
At the same time, when adding riskier elements of capital returns, the data lend support for structurally increasing “dynamic efficiency”. We then associate the key 1930s inflection to the establishment and growth of welfare states in advanced economies, and the surge in non-defense, non-interest expenditures.
A Teacher Writes to Students Series (33): Social Realist Theatre vs. Economics Classroom
November 25, 2024A Teacher Writes to Students Series (33): Social Realist Theatre vs. Economics Classroom
Annavajhula J C Bose, PhD
Department of Economics (Retd.), SRCC, DU (more…)
Book Review -The Day I Became a Runner: A Women’s History of India through the Lens of Sport
November 25, 2024How does one react to a book which completely surprises you? Sohini Chattopadhyay’s book on running particularly women runners is one such book. How does one react to a book on running after all? That too on as exotic a topic as women running?
Sample the abstract:
Mostly Economics 
