Page 29 - Working Paper News Today

Without caste census, OBCs will forever be denied social justice P.N. Sankaran chronicles the debate on caste census, argues that it is indeed feasible and shows how every effort to ensure representation in the State of all historically oppressed communities is bound to fail without such a census On 26 February 2021, the Supreme Court issued a notice to the central government on a petition seeking caste-based census in the country. The petition said that such a census would address the lack of ...

Silhouette of people with luggage walking in a row. Andrey_Popov/Shutterstock.com Globalization has facilitated physical mobility, enabling international migration to increase from 92 million in 1960 to 244 million in 2017. Traditionally, rising migration flows have been attributed to a lack of economic development in origin countries. Would-be migrants, the argument goes, decide to move primarily in search of higher wages and income abroad. A competing hypothesis on the migration-development ...

A Pathfinder Perspective In the immediate aftermath of the onset of the Covid19 pandemic and the unprecedented health and economic crises it unleashed, there was a widespread backlash in sentiment against globalization and open economic policies. The greatly increased human mobility associated with these phenomena were blamed for the rapid spread of the virus to all parts of the globe. The supply-side shocks, related even to basic goods, such as food and medicines, as well as demand pressures e...

[co-author: Sarah Taheny] The European Commission (EC) has published new guidance on the application of Article 22 of the European Merger Regulation (EUMR) which will allow for the EC and Member States to refer transactions that do not meet existing EC or national jurisdictional thresholds for EC review. On March 26, 2021, the EC published its Staff Working Document (Working Document) on the Evaluation of Procedural and Jurisdictional Aspects of EU Merger Control, 1 the latest step in its evalu...

Eduardo Levy Yeyati The arrival of Covid-19 instigated financial turmoil in March 2020. As in previous episodes of financial instability, the uncertainty made investors rush to hold US dollar-denominated assets, creating a dollar shortage. To mitigate acute strains in the offshore dollar funding markets and avoid a global systematic financial crisis, the Federal Reserve (‘Fed’) made US dollar liquidity readily available. They did so by reducing the pricing of swap operations, extending the ...

The new Article 22 EU Merger Regulation (EUMR) Guidance 1 released by the European Commission (EC) enables the EC to review any acquisition, even those that do not qualify for notification under national (or EU) merger control rules. Summary The new guidance indicates that the EC will actively monitor deal activity to identify transactions that may be candidates for an Article 22 referral. While a formal referral request should be made by a national competition authority (NCA), the EC will “e...

Summary One of the key drivers of economic recovery in India will be the efficient movement of capital from inefficient firms to efficient ones. The economic downturn caused by the coronavirus pandemic has been severe, and India’s economy was one of the worst affected in 2020–2021. Though the economy is recovering faster than initial estimates, sustained economic recovery will not take place if stressed businesses cannot restructure their debts properly or if failing firms cannot be resolve...

Adnan Seric, Deborah Winkler The ‘Roaring Twenties’ was a decade (approximately 1921–29) of growing prosperity in the Western world, alimented by deferred spending, a boom in construction, and the rapid expansion of consumer goods, such as automobiles and electric home appliances. These factors materialised on the back of WWI devastation and, crucially, the N1H1 ‘Spanish Flu’ pandemic. As such, several pundits, journalists, commentators, and academics have been drawing parallels with...

Ever heard of the Cantillon Effect?  Neither had I. It is what is happening right now in America, and it reveals that the primary objective of the nation’s exclusive distributor of money, the Federal Reserve Bank, is to boost the value of wealthy people’s incomes at the expense of the poor, which is why the rich get richer and the poor get poorer in America today. First, a reader needs some backgrounding before wading through all the financial gibberish found online. The status of the Ameri...

Jeffrey Clemens, Parker Rogers The public and political pressure on vaccine developers and global regulatory approval agencies has never been higher. The world has been eagerly awaiting any – and all – developments regarding vaccines and therapeutics required to fight the current Covid-19 pandemic. While the demand side is willing to pay almost any price for an effective and fast solution, unfortunately neither the drug development nor the drug approval process is designed to deliver speed ...