Word: economisters
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...opening the money taps again. In September China's central bank lowered its key interest rate to 7.2%, the first cut since 2002. More central banks are expected to follow. "We're going to move from monetary tightening to monetary loosening in Asia," says Manu Bhaskaran, a Singapore-based economist with the Centennial Group. "Inflation is yesterday's story...
...Asia is somewhat better protected than other parts of the world against recession. For one thing, most Asian governments are in sound financial condition and can prime their economic pumps almost at will, says Song Seng Wun, regional economist at CIMB-GK Research in Singapore. "They all face the downturn with a few more bullets in their pocket than they had in the past," he says. The high growth rates of the past several years provide an additional buffer. With the exception of slow-growing Japan, which may already be in a recession, Asian countries will likely account...
...were half as likely to experience a collapse as those that did not. "The idea is that by securing access for individuals or select groups for a long period of time, they have an incentive to steward the resources," explains the study's lead author, Christopher Costello, a resource economist at U.C. Santa Barbara. "If they overharvest or destroy habitat today, they will have a less vibrant stock in the future, and thus lower future profits...
Despite growing evidence of their effectiveness, catch-share programs are still a relative rarity. Only 121 of the more than 11,000 fisheries Costello and his team studied were using the system. But Gunnar Knapp, an economist at the University of Alaska, says the idea of privatizing fish is catching on as fishermen realize that it may be the best way to protect fish - and their own jobs...
...Harvard’s budding financiers have an easy response to people like Kenneth S. Rogoff, the distinguished Harvard economist and former International Monetary Fund official who garnered applause at the expert panel on the financial crisis last week by saying that the “bloated” financial sector has been in need of a correction and that Harvard students would do well to “go into other activities...