Highlights: The ‘sharing economy’ is a system that reduces asset or resource underutilisation for monetary or non-monetary benefits. Malaysia ought to embrace the sharing economy but with appropriate safeguards. Clear and coherent policy stance is important for a vibrant sharing economy industry. Introduction The sharing economy has disrupted many traditional means of doing business and … Continue reading The Sharing Economy – Harnessing the Value of Idle Assets
Highlights Monetary policy has a short-run and possibly medium-run impact on inequality. In the long run, the distributional impact is not clear Incorporating inequality into policy deliberations may help achieve a more effective monetary policy Introduction For a long period, “benign neglect” characterised the attitude that central bankers displayed towards inequality. Traditionally, the mandates of … Continue reading Central Banking and Inequality – The Current State of the Conversation
Highlights: The Financial Conditions Index (FCI) has gained prominence in the last decade among policymakers and market participants due to its ability to summarise the current state of overall financial conditions. The estimated FCI for Malaysia can provide useful insights about domestic financial conditions. The latest assessment of the FCI indicates improving financial conditions since … Continue reading Financial Conditions Index for Malaysia
Bank Negara Malaysia and the Tun Ismail Ali Chair (TIAC) have successfully hosted a public lecture by the current TIAC chairholder, Professor Thorsten Beck from Cass Business School, London on 28 November 2017 at Sasana Kijang. The public lecture, titled Looking Beyond Banks: Alternative Finance, Competition and Regulation, was attended by over 60 participants from … Continue reading Summary and Recording of Public Lecture: Looking Beyond Banks – Alternative Finance, Competition and Regulation
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