Michael McMahon
@mcmahonecon.bsky.social
Macro Prof @ Oxford Econ. Member of Ireland’s Fiscal Council and otherwise spend my work time thinking about central banks, communication and inventories!
I regularly take seminar visitors for the short walk to see the grave. It gets them out in the fresh air, and I get to mention others buried there like John Fleming and Kenneth Graham (Bank of England employee who wrote Wind in the Willows).
February 9, 2025 at 11:45 AM
I regularly take seminar visitors for the short walk to see the grave. It gets them out in the fresh air, and I get to mention others buried there like John Fleming and Kenneth Graham (Bank of England employee who wrote Wind in the Willows).
👍🏻 Makes sense you can lock them but I haven’t a musical bone in my body and hence I’m probably not allowed within many metres of such grand instruments.
December 7, 2024 at 1:15 PM
👍🏻 Makes sense you can lock them but I haven’t a musical bone in my body and hence I’m probably not allowed within many metres of such grand instruments.
Naivety incoming - I had no idea you could lock pianos! Is it the piano itself or is there a locking mechanism on those covers?
December 7, 2024 at 12:41 PM
Naivety incoming - I had no idea you could lock pianos! Is it the piano itself or is there a locking mechanism on those covers?
Speculatively, they could refuse to carry out their duty (presumably claiming they don’t have legal jurisdiction) or they could carry out their duty and claim they failed to meet standards (blocking the bond).
Either leads to discrimination claims (especially as they already approved previously).
Either leads to discrimination claims (especially as they already approved previously).
December 7, 2024 at 11:45 AM
Speculatively, they could refuse to carry out their duty (presumably claiming they don’t have legal jurisdiction) or they could carry out their duty and claim they failed to meet standards (blocking the bond).
Either leads to discrimination claims (especially as they already approved previously).
Either leads to discrimination claims (especially as they already approved previously).
It’s a duty as a member of EU. Of course, if they somehow didn’t do it (not a lawyer so don’t know how this happens or consequences for CBoI), then another authority could do it and there is no change for sale of bonds.
So while it is definitely is against public opinion, it isn’t a choice as such.
So while it is definitely is against public opinion, it isn’t a choice as such.
December 7, 2024 at 11:39 AM
It’s a duty as a member of EU. Of course, if they somehow didn’t do it (not a lawyer so don’t know how this happens or consequences for CBoI), then another authority could do it and there is no change for sale of bonds.
So while it is definitely is against public opinion, it isn’t a choice as such.
So while it is definitely is against public opinion, it isn’t a choice as such.
Ireland is the “Home Member State” for Israeli bonds in the EU. Israel chooses which state it designates (was UK until Brexit). Once chosen, CBoI is the competent authority that has to check their bond prospectuses comply with rules (“approve them”).
www.centralbank.ie/regulation/i...
www.centralbank.ie/regulation/i...
Prospectus Regulation | Central Bank of Ireland
Page provides an outlined of the Central Bank’s obligations under the provisions of the Prospectus Regulations
www.centralbank.ie
December 7, 2024 at 11:15 AM
Ireland is the “Home Member State” for Israeli bonds in the EU. Israel chooses which state it designates (was UK until Brexit). Once chosen, CBoI is the competent authority that has to check their bond prospectuses comply with rules (“approve them”).
www.centralbank.ie/regulation/i...
www.centralbank.ie/regulation/i...
By this stage of their career they are high-ranking politicians who are charged with selecting and implementing the policies desired by the government.
I prefer to live in a world where it is these selected policies that people focus on, discuss and criticise.
I prefer to live in a world where it is these selected policies that people focus on, discuss and criticise.
November 25, 2024 at 11:24 AM
By this stage of their career they are high-ranking politicians who are charged with selecting and implementing the policies desired by the government.
I prefer to live in a world where it is these selected policies that people focus on, discuss and criticise.
I prefer to live in a world where it is these selected policies that people focus on, discuss and criticise.
I have said before that I think it is useful to have someone with economics training in the position of Chancellor. It makes them better consumers of the briefings they receive and they can challenge views on their desired policies. But...
November 25, 2024 at 11:24 AM
I have said before that I think it is useful to have someone with economics training in the position of Chancellor. It makes them better consumers of the briefings they receive and they can challenge views on their desired policies. But...
What to say on Halifax period? I don't know in the sense that I wasn't there. But many people who train as economists go into other areas of the world and bring their economics training to usefully bear on those areas. I'm Ok that they can still think of themselves as economists.
November 25, 2024 at 11:24 AM
What to say on Halifax period? I don't know in the sense that I wasn't there. But many people who train as economists go into other areas of the world and bring their economics training to usefully bear on those areas. I'm Ok that they can still think of themselves as economists.
So what does it mean to suggest that she was a junior analyst? Or didn't stand out? Having sat in meetings with Rachel over many years, she was doing the same thing I and other junior people were doing - learning from more senior people in our divisions and the whole MA area.
November 25, 2024 at 11:24 AM
So what does it mean to suggest that she was a junior analyst? Or didn't stand out? Having sat in meetings with Rachel over many years, she was doing the same thing I and other junior people were doing - learning from more senior people in our divisions and the whole MA area.
She absolutely was an macroeconomist - not because of her training but because of what she did day to day. We analysed international macroeconomies and I think we were in a great environment for learning. And we were learning - UG and MSc does not train you as a macroeconomist.
November 25, 2024 at 11:24 AM
She absolutely was an macroeconomist - not because of her training but because of what she did day to day. We analysed international macroeconomies and I think we were in a great environment for learning. And we were learning - UG and MSc does not train you as a macroeconomist.
As background-I was also at the @bankofengland.bsky.social at the same time as Rachel and we worked under Governor Bailey in IEAD. We were both new to the job. We also had similar training (UG econ and then MSc from LSE). I may also be considered biased since I now work @oxfordecondept.bsky.social .
November 25, 2024 at 11:24 AM
As background-I was also at the @bankofengland.bsky.social at the same time as Rachel and we worked under Governor Bailey in IEAD. We were both new to the job. We also had similar training (UG econ and then MSc from LSE). I may also be considered biased since I now work @oxfordecondept.bsky.social .