A. Introduction: If you can’t beat Bitcoin, join ‘em? With the rising interest in and usage of private digital currencies (e.g. Bitcoin), a policy question that has arisen is whether central banks should consider issuing official digital currencies (central bank digital currency, CBDC). Consequently, research has been initiated globally to evaluate the costs and benefits … Continue reading Central Bank Digital Currency: A Monetary Policy Perspective
Below is the presentation by Dr. Yeah Kim Leng, Professor of Economics and Director of Economic Studies Program at Jeffrey Cheah Institute on Southeast Asia (JCI) at Sunway University, during the International Conference on Applied Economics and Policy (ICEAP) held at the Faculty of Economics & Administration, University of Malaya on 22 August 2017.
Below is the current Tun Ismail Ali Chairholder - Professor Thorsten Beck's keynote presentation during the International Conference on Applied Economics and Policy (ICEAP) held at the Faculty of Economics & Administration, University of Malaya on 22 August 2017.
First impression is something everyone cares about . In certain cases, first impression is critical, so much so that it is the deciding factor in things such as getting a new job, or getting a promotion or even attracting our crush, But first impression may not always be everything. Over a longer period, our well-kept … Continue reading The path to enlightenment: A lesson in impressing others by Holmstrom and Tirole
HIGHLIGHTS Public scepticism on the CPI has increased as their personal experiences suggest larger increase in cost of living. However, cost of living and inflation are two different concepts, and public perceptions of inflation are subject to biases. Due to the biases, measures of perceived inflation were higher than CPI inflation, especially at times of … Continue reading Inflation: Perception vs. Reality
This article briefly highlights the differences between Consumer Price Index (CPI) inflation and the cost of living. It also presents analyses of the differences in inflation rates across various income groups and across states in Malaysia, and an assessment of the growth in income and expenditure of Malaysian households, using data from the 2014 Household … Continue reading Inflation and the Cost of Living
The Tun Ismail Ali Chair (TIAC) at the University of Malaya, in collaboration with Bank Negara Malaysia, is organising a half-day workshop on "Monetary Policy in Theory and Practice”. The workshop will be held on 23 May 2017, at Sasana Kijang, Kuala Lumpur. The workshop aims to facilitate the exchange of research ideas and findings … Continue reading TIAC-BNM Monetary and Financial Economics Workshop
Credit has become an integral part of modern economies, so much so that it can be the primary catalyst for economic booms and busts. The expansive role of finance has made it challenging for policymakers and regulators to find the balance between ensuring credit flows into productive sectors that increase income and improve welfare, and … Continue reading Household Credit and Growth in Malaysia: Does the Type of Credit Matter?