samchain/econo-pairs-v2 huggingface dataset:
about and understanding regulatory and tax policy. but incentives also help motivate people in a variety of other settings, such as encouraging students to do their best in school, helping reduce traffic jams, or even nudging someone to save more or to exercise regularly. economics is a practical and powerful tool for understanding how we relate to each other. and that ’ s why what you do for your students is so important. like all teachers, you are helping prepare them for success in life. the knowledge you impart and the intellect and talents you help develop are tools that your students can use to achieve that success. economics teaches analytical and critical thinking skills useful to anyone. part of your students ’ success is their economic success as capable, creative, and productive members of the workforce and as consumers adept at managing their finances. your students benefit from this education, but so does everyone else in society. we all benefit when better - educated citizens support economic policies that help our nation prosper. we all benefit from the capability, creativity, and productivity of our workforce, because nothing is more important to a healthy and growing economy. responsible consumers skilled in managing their finances are better prepared to weather bad 1 / 2 bis central bankers'speeches times, and stronger household finances overall can help sustain economic growth and mitigate a downturn. stabilizing growth and mitigating a downturn, of course, are aspects of the federal reserve ’ s mission. monetary policy can be a powerful tool to achieve these ends, but, in truth, its powers are dwarfed by larger forces, such as the productivity of the american people and the strength of their finances. by educating students and supporting their future contributions to the economy as workers and consumers, all teachers, especially economics teachers, are furthering our goals at the fed, so let me offer my further thanks for making our job easier. to help support your work as teachers, the federal reserve board and the 12 reserve banks conduct programs, organize events, and publish books to spread knowledge of economics, financial literacy, and the role of the fed in promoting a healthy economy and financial system. you can find some of those resources at our websites : federalreserve. gov and federalreserveeducation. org. each of the reserve banks has community outreach and educational initiatives, and the outreach to economics teachers is coordinated by the system economic education group, which has been chaired by princeton williams. at the board of governors, for some years we have

the three gorges area will definitely be able to embrace an economic take - off at an early date. thank you.
, the peso actually appreciated by 2. 0 percent. in other words, the exchange rate is no longer adding to the inflation problem. that is the situation. the policy rate [ adjustment ] addressed two issues : first, it prevented the knock - on effects of supply shocks from spreading too much. second, it made the peso stronger, which also significantly reduced inflationary expectations. and, as i said, we did it without any risk that financial stability is reduced. 2 / 2 bis - central bankers'speeches

may be replaced by labour shortages if the people who do not have a job stop looking for one and certain important skills and knowledge that companies particularly need are lost. a short - term downturn in the economy can in this way make it harder to access capital and skilled workers. the sharp rise in the price level in estonia in recent years has caused companies here to become less competitive on price. consumer prices in estonia are 35 % higher than they were in 2019, before the pandemic and the other crises, and producer prices in manufacturing are 40 % higher. in the european union meanwhile, consumer prices are up 21 % and producer prices 33 %. the price level in estonia's main trading partners has also risen, but much more slowly. 3 / 6 bis - central bankers'speeches prices rising more quickly than those of competitors does not automatically mean that competitiveness is being lost, as long as better goods and services can be provided for those higher prices. right now however, the rapid rise in prices has been accompanied by a steep drop in export volumes. estonian companies have had to cope with their cost bases increasing faster than those of competitors in the nordic countries and western europe, and they will probably have to continue coping with this in future, since the price and wage levels here are lower than those in wealthier countries, and prices and wages in estonia may be expected to continue rising relatively fast. wages rising fast in estonia has so far been facilitated by growth in corporate turnover and in the longer perspective by labour shortages. labour costs per employee are around 30 % higher in estonia than they were in 2019, while the average increase of 15 % in the european union is only half that. labour costs are an important part of production costs and it can make exporting companies less competitive if they rise fast. the rise in labour costs in manufacturing from what they were before the pandemic has not however been noticeably larger in estonia than in latvia and lithuania, and it has been smaller than the rise in costs in poland and some other countries in central and eastern europe. this is of course of no comfort to those exporters that compete with companies in the nordic countries or western europe. prices for energy and fuels have come down from the peaks they hit at the worst of the crisis, but there remains a lot of uncertainty about them. limits on the amounts of electricity that can be generated and supplied have caused prices on the electricity exchange for the baltic and nordic region to diverge ever further apart since 2020. the
periods of business recession as defined by the national bureau of economic research ( nber ) : march 2001 – november 2001, december 2007 – june 2009, and february 2020 – april 2020. source : federal reserve bank of st. louis ( 2023 ), “ market yield on u. s. treasury securities at 10 - year constant maturity, quoted on an investment basis - market yield on u. s. treasury securities at 2 - year constant maturity, quoted on an investment basis, ” fred economic data ( accessed october 27, 2023 ), https : / / fred. stlouisfed. org / graph /? g = 18dil ; board of governors of the federal reserve system. 11. payroll revisions initial report current estimate revision august september october november december total source : u. s. department of labor, bureau of labor statistics. 12. consumer price index inflation revisions before revision after revision change june 1. 42 1. 28 - 0. 14 july - 0. 02 - 0. 04 - 0. 02 august 0. 13 0. 25 0. 13 september 0. 42 0. 44 0. 03 october 0. 47 0. 52 0. 05 november 0. 10 0. 22 0. 12 december - 0. 08 0. 14 0. 22 source : u. s. department of labor, bureau of labor statistics.

our ability to listen have continued and have become what i expect will be, and certainly should be, a permanent feature of the federal reserve's decisionmaking. since the pandemic, and with the onset of high inflation, we have seen shifts in the availability of affordable housing and in the housing market more generally. i'm interested to hear how these impacts are being felt in new england. the availability and affordability of housing are critical for families and for communities seeking to attract 1 / 2 bis - central bankers'speeches new jobs and the workers to fill those new employment opportunities. distinguishing between the short - term effects of the pandemic and longer - term structural shifts in the economy is crucial in making the near - term policy decisions to achieve our dualmandate goals. in the near term, higher interest rates intended to lower inflation work most directly in the housing market. while we expect lower rents will eventually be reflected in inflation data as new leases make their way into the calculations, the residential real estate market appears to be rebounding, with home prices leveling out recently, which has implications for our fight to lower inflation. the pandemic abruptly changed the lives of most americans and their families, and it fed a surge of demand for those who sought larger homes. it ushered in a wave of homebuilding and renovation that was a significant contributing factor for inflation and supply chain challenges. much of that initial inflation has moderated, but it will be important to understand the long - term effect of the pandemic environment on household formation and housing demand going forward. thank you again, president collins, for hosting this fed listens event and for the opportunity to be part of this discussion. 2 / 2 bis - central bankers'speeches
year. i must acknowledge the cooperation and support of the commercial banks in the implementation of our monetary policy particularly at these difficult times. coin review i would also like to announce that following the introduction of our new bank notes this year, we are now reviewing fiji ’ s coin structure. we are of the opinion that there is merit in modernizing fiji ’ s coins and we need to introduce coins that are convenient to handle and cheaper to produce with significant cost savings to the nation. we have conducted a nationwide survey and the views of the public are being considered. this project will take about a year to complete. concluding remarks finally, i would like to thank mr. cashmore for inviting me here this evening. westpac has played a prominent role in fiji ’ s economic development through its services, innovative products and towards introducing the latest banking technology. i congratulate you, john, and your team on the opening of your 18th branch in fiji. i wish the westpac team all the best in its future endeavours. official opening i now have much pleasure in declaring this port denarau branch of westpac open. thank you.

. the supervisory council which wields the ultimate financial powers over the bank is a parliamentary body separate from the government ministries. it has proven to give a high priority to the financial soundness of the bank of finland, and has not reflected the occasional pressures arising from the ministry of finance for example. • institutional support by the ecb. the ecb ’ s opinions give powerful support to the financial independence of the national central banks of the eurosystem. for instance, when there was political discussion in finland in 2003 about extracting capital from the central bank, the institutional support from the ecb was important in avoiding that action. ultimately however, all of these pillars of central bank financial soundness are dependent on the general understanding of the tasks and responsibilities of the central bank, and on a broad trust and acceptance on its activities and operations. if these are undermined, the provisioning and distribution rules, governance structures and other safeguards of central bank soundness are not on a durable basis. the central bank must therefore strive to demonstrate by acts and words that it serves a public purpose. bis central bankers ’ speeches
. let me conclude by wishing the graduating students all the best in their future careers, and to wish you all a very successful conference.

technology, but we cannot afford to be complacent in assessing the risks posed by these technologies and taking action to mitigate them. we have to ask the common sense questions : - what is fundamentally new in this offering? - what is the cost, benefit equation for the customer? - what new risks it poses to the financial system? - how can we mitigate these risks? and - on balance, is it beneficial to allow this offering? 1 / 2 bis central bankers'speeches we believe that a nuanced and sensible approach rather than blind following of every trending technology is the ideal way to regulating in these uncertain times. we have always been accessible to the industry and given the nature of fintech it becomes even more critical to consult the market participants before introducing new rules. i encourage market players to take the initiative and enlighten us if they have strong views on any fintech related area. ladies and gentlemen, i once again would like to thank afs for arranging the conference and wish you all a productive conference today and tomorrow. thank you. 2 / 2 bis central bankers'speeches
although there is still much to be done. investors ’ concerns about the treasury ’ s ability to fulfil its commitments should dissipate if the authorities adhere to the fiscal consolidation plans in the 2011 national budget and the estimates for the years to come. soon it should emerge that iceland is in many respects on a firmer footing than a number of other developed countries, many of which are faced with sizeable pension obligations in addition to large fiscal deficits and a heavy debt burden. iceland now has access to enough foreign currency reserves to pay all treasury debt falling due from now through 2013 – and through 2015, if it draws in full on the loan facilities associated with the imf stand - by arrangement. there is an underlying current account surplus. the real exchange rate is still at a low level, which indicates that investments in kronur should be appealing for the long term. if efforts to attract direct investment in export sectors are successful over the medium term, the conditions for gradual removal of the capital controls will improve. the central bank emphasises lifting the controls in a way that minimises exchange rate and bond market instability to the maximum extent possible. careful preparation will take place before the next steps are taken. however, the bank cannot create greater certainty in the markets than it faces itself.

process arrives at a crossroad. since it began in earnest sixty years ago, many severe challenges had to be overcome to bring europe to where it is today. as jean monnet, the pre - eminent founding father of the eu wrote in his memoirs in 1976 : “ europe will be forged in crises and it will be the sum of the solutions adopted for those crises ”. 8 i have no doubt that europe ’ s authorities will once again rise to the occasion. they will ultimately adopt the necessary solutions to overcome the current public debt and confidence crisis. in doing so, they will safeguard the long - standing european integration process that has proven so valuable to switzerland and to the rest of the world. see monnet, jean ( 1976 ) : “ memoires ”.
similarly, the fact that no governor member of the governing council has a permanent voting right, and that they are all subject to a rotation scheme, is another important element of fairness between large and smaller countries. • finally, in the steady state, 4 new member countries are expected to become member of the second group while many of the remaining countries will gradually move from the third to the second group as real convergence, or " catching up " in plain english, progresses. in this respect, the ecb proposal also strikes a fair balance between current and new members, an important point i wish to emphasise here in prague.

yves mersch : is inflation back? keynote address by mr yves mersch, president of the central bank of luxembourg and member of the governing council of the european central bank, at the bank finance 2011 conference, frankfurt am main, 3 march 2011. * * * headline inflation in the euro area is on the rise. according to eurostat ’ s flash estimate euro area annual hicp inflation increased by 0. 1 percentage points to 2. 4 % in february. this figure is more a snapshot than an incipient violation of the ecb ’ s medium - termoriented definition of price stability, – namely of inflation below but close to 2 % –, but there is no room for complacency. the key question is whether we are facing a “ hump ” – in other words, is this acceleration in headline inflation temporary –, or is it the edge of a plateau, where the pressure on prices is more persistent than currently assumed. the judgment on this is three - forked : we envisage a good, a bad and an ugly scenario. the good scenario, i. e. the good news, is that we have been here before. temporary increases in headline inflation have not prevented the ecb from managing to keep the average annual inflation rate in the euro area at 1. 97 over the past 12 years. the bad news is that things might be slightly different this time, as forecasting inflation is, indeed, a complex task. the really ugly news is that there may be even drivers at work that could lead to errors in forecasting inflation significantly, especially in underestimating future price levels. let me discuss this in more detail. the good scenario : the hump scenario is the most benign annual headline inflation in the euro area increased steadily in the course of 2010, from 1. 0 % in january to 2. 2 % ( in december, an increase of 1. 2 percentage points within one year. this 11 - month increase in headline inflation is due ) almost entirely to the food and energy components of the hicp. crude oil prices, for example, have surged by around 35 % over the last half year, peaking above 120 dollar very recently, and pushing up import prices. recent political turmoil in some oil exporting countries in the arabian world may lead to further price increases. the contribution from the other components of the hicp basket was relatively stable, though mildly accelerating. according to the consensus among monetary authorities, these sources of price pressure
a role that the bank of zambia is committed to playing effectively. ladies and gentlemen, with these remarks, i wish to thank all stakeholders in this important initiative. thank you.

also intends to conduct provincial sensitisation visits and to localise these visits by way of disseminating information in local languages and dealing with matters, which are peculiar to those provinces. governor, kindly give your closing remarks it is our hope and desire that through this information dissemination programme and other similar interventions, we shall increase the public ’ s awareness on the role of the bank of zambia in the economic development of this country. it is my honour to launch this information dissemination programme and i urge you all to listen in and actively participate in the live phone - in programme, which we will hold at the end of the radio programme. i thank you.
be aiming to ensure that the final version of our guideline embodies this approach.

mario draghi : remarks at the annual reception of the association of german banks speech by mr mario draghi, president of the european central bank, at the annual reception of the association of german banks, berlin, 26 march 2012. * * * sehr geehrter herr schmitz, vielen dank fur ihre freundliche einfuhrung und vielen dank fur ihre einladung nach berlin. ich freue mich, heute hier zu sein. ladies and gentlemen, i would like to take this opportunity to provide you with my assessment of the current situation in the euro area and shed light on recent signs of improvements in the overall outlook. i would particularly like to draw your attention to the effectiveness of the policy measures implemented by the eurosystem, the eu institutions and national authorities. and to remind you of the measures that we all must continue to pursue over the coming months and years with great diligence in order to continue on this path of stabilisation. the current economic situation as this audience knows very well, in november last year, the prospects for the euro area financial sector were very bleak. banks were experiencing a period of heightened stress. the inter - bank market was closed except to the strongest institutions in the safest countries, and funding markets were impaired. unable to raise funds beyond short maturities, many banks were reducing mediumterm lending to the real economy. at the same time came the requirement to increase capital ratios to 9 %. this increased the risks of substantial deleveraging, including the risk of banks cutting back on loans, notably those to small and medium - sized enterprises. we could see the intensity of the deleveraging pressures in bank lending surveys and other data. in the fourth quarter of 2011, there was a significant tightening of credit standards on loans to both companies and households. there was no doubt that the euro area was on the brink of a major credit crunch, with potentially adverse consequences for the economy and employment. at that time, many observers had little confidence in the capacity of the euro area to reverse the situation. yet today, only four months on, the picture looks different. there are signs of stabilisation in both financial markets and overall economic activity – albeit still at low levels. conditions in bank funding markets have improved. for example, euro area banks have already issued about 70 billion euro in senior unsecured debt so far this year, which is well above the amount
vulnerabilities and restructures its economy, it will pave the way for more sustained growth and a more advanced economy. the new china that will emerge will open up new opportunities for asian economies. the rmb will become more international and chinese corporates and financial institutions more global. singapore is well - positioned to partner chinese companies in their regional journey and deepen china ’ s connectivity to asia through trade and investment. the next chapter of chinasingapore financial partnership will be exciting and rewarding. i wish you fruitful discussions and a pleasant stay in singapore. thank you. bis central bankers ’ speeches

heng swee keat : the first shariah - compliant etf in singapore congratulatory remarks by mr heng swee keat, managing director of the monetary authority of singapore, at the launch of daiwa ftse shariah japan 100 etf at sgx centre, singapore, 27 may 2008. * * * president and ceo, daiwa asset management, mr michihito higuchi vice - president and head of listings, singapore exchange, mr lawrence wong distinguished guests ladies and gentlemen, good morning. i am pleased to join you at this ceremony to mark the debut of the daiwa ftse shariah japan 100 exchange traded fund ( etf ), the first shariah - compliant exchange traded fund to be launched in singapore. the daiwa ftse shariah japan 100 etf will provide retail and institutional investors the opportunity to access the japanese capital markets via a shariah - compliant product traded on the singapore exchange ( sgx ). etfs are one of the fastest growing asset classes in the investment funds industry. they aim to track the performance of indices and provide access to a wide variety of markets. as at the end of 2007, global assets managed via etfs are estimated to have increased by 41 % over the previous year to reach about us $ 800 billion while the total number of primary listings has increased by 64 % to 1, 171. there are currently 18 etfs listed on sgx covering regional markets such as the asiapacific and asean, and individual markets such as china, india, south korea, taiwan and japan, as well as alternative investments such as gold and commodities. these provide investors with the opportunity to access key asian markets, to diversify their investment portfolios and to execute their investment strategies. daiwa ’ s ftse shariah japan 100 etf marks a key development for our islamic finance industry. to facilitate the development of this growing industry, over the past few years, we have reviewed and refined our regulatory framework and tax structures. in february this year, the finance minister announced in the budget that a 5 % concessionary tax rate would be granted for income derived from shariah - compliant fund management, lending, and insurance & reinsurance. the tax exemption on income from sukuks that are qualifying debt securities will also be extended to all investors. a few weeks ago, mas announced that it will be developing a facility for the issuance of singapore dollar, sovereign - rated su