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Michael McMahon @mcmahonecon.bsky.social · Jul 2

🚨CEPR webinar 🚨

Thursday 3pm UK/ 4pm CET / 10am EST

Carola Binder will talk about “Partisan Trust in the Federal Reserve”

Register here:
cepr-org.zoom.us/webinar/regi...

Welcome! You are invited to join a webinar: Central Bank Communication RPN Seminar Series. After registering, you will receive a confirmation email about joining the webinar.

With the growing importance of central bank communication, both with markets and with a wider audience, there remain important questions regarding the channels through which communication has effects,...

cepr-org.zoom.us

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Michael McMahon @mcmahonecon.bsky.social · Apr 25

Excited to restart the CB communication webinars by speaking with Loretta Mester, ex-FOMC member and someone who has both studied CB comms and been at the policy frontier of it.

It will be Thurs May 1, 15:00 UK time and promises to be a wonderful 74 mins.

Register:
cepr-org.zoom.us/webinar/regi...

Welcome! You are invited to join a webinar: Central Bank Communication RPN Seminar Series. After registering, you will receive a confirmation email about joining the webinar.

With the growing importance of central bank communication, both with markets and with a wider audience, there remain important questions regarding the channels through which communication has effects,...

cepr-org.zoom.us

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Michael McMahon @mcmahonecon.bsky.social · Feb 9

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).

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Michael McMahon @mcmahonecon.bsky.social · Feb 8

Today marks the 180th anniversary of the birth of great Irish/Oxford economist Francis Ysidro Edgeworth.

Most remembered now by students for the Edgeworth Box, he was the founding editor of the Economic Journal and is buried less than 400 feet from the Economics Dept with a beautiful Celtic cross.

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Michael McMahon @mcmahonecon.bsky.social · Jan 22

Another great converts to #EconSky

@jagjitchadha.bsky.social - give him a follow.

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Arun Advani @arunadvani.bsky.social · Jan 19

🚨PRE-DOC OPPORTUNITY🚨
If you are
🔸considering a future in #econ research, via a PhD or other paths (thinktanks, civil service);
🔸interested in studying Qs abt tax, growth & ineq;
then come work w/me, @andy-summers.bsky.social + @centaxuk.bsky.social team
econjobmarket.org/positions/11...
#econ_ra

Card explaining some of the benefits of working at CenTax as a Research Economist/pre-doc. These include co-authoring academic papers and policy briefings, getting media exposure, and a structured path into PhD programmes and other economics research careers

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Susie Dent @susiedent.com · Dec 30

Word of the day is most definitely ‘hurkle-durkling’ (19th-century Scots): to linger in bed long after it’s time to get up.

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Michael McMahon @mcmahonecon.bsky.social · Dec 15

Yes please.

Michael McMahon @mcmahonecon.bsky.social · Dec 7

👍🏻 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.

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Michael McMahon @mcmahonecon.bsky.social · Dec 7

Naivety incoming - I had no idea you could lock pianos! Is it the piano itself or is there a locking mechanism on those covers?

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Michael McMahon @mcmahonecon.bsky.social · Dec 7

It’s part of the European Capital Market law:

eur-lex.europa.eu/legal-conten...

eur-lex.europa.eu

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Michael McMahon @mcmahonecon.bsky.social · Dec 7

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).

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Michael McMahon @mcmahonecon.bsky.social · Dec 7

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.

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Michael McMahon @mcmahonecon.bsky.social · Dec 7

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...

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

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Michael McMahon @mcmahonecon.bsky.social · Dec 5

Are you hiring on the Econ Job market seeking someone who does macro and applied experimental? Look no further than my @oxfordecondept.bsky.social student Alena Wabitsch. She works on expectation formation, mon policy, and labour. She has already published some papers and won awards.

bit.ly/499n7QK

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Michael McMahon @mcmahonecon.bsky.social · Dec 5

Great group hiring RAs / pre-docs.

John Turner @profjohnturner.bsky.social · Dec 4

We’re hiring two predocs / research assistants at @cephie.bsky.social @quceh.bsky.social hrwebapp.qub.ac.uk/tlive_webrec...

Job profile

hrwebapp.qub.ac.uk

John Turner @profjohnturner.bsky.social · Dec 4

We’re hiring two predocs / research assistants at @cephie.bsky.social @quceh.bsky.social hrwebapp.qub.ac.uk/tlive_webrec...

Job profile

hrwebapp.qub.ac.uk

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Michael McMahon @mcmahonecon.bsky.social · Dec 3

Expect the productivity of #EconSky to rise impressively - TFP legend @johnfernald.bsky.social has entered the mix. 😁

Especially after the earlier hit from @overleaf.com going down!

(Actually lots of great economists continue to join.)

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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.

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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...

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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.

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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.

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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.

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

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 .

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

I haven't said anything on the Chancellor's CV discussion (I was travelling and not paying deep attention). I spoke to Jagjit Chadha but now non-economist friends have mentioned it to me so I wanted to say publicly what I have said to them privately: This is a ridiculous attack.

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Michael McMahon @mcmahonecon.bsky.social · Nov 25

Clare Lombardelli’s first speech as Deputy Governor @bankofengland.bsky.social delivered at the Bank of England watchers conference.

www.bankofengland.co.uk/speech/2024/...

Managing the present, shaping the future - speech by Clare Lombardelli

Given at the Bank of England Watchers Conference, London

www.bankofengland.co.uk

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Michael McMahon @mcmahonecon.bsky.social · Nov 21

Happy to be added as a foreign-based Irish watcher 😁🇮🇪

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Michael McMahon @mcmahonecon.bsky.social · Nov 21

Off to @cambridgeuni.bsky.social today to give a talk with Matt Naylor and to speak on a panel at the Isaac Newton Institute discussing communication. What an exciting honour.

Full programme is here:
gateway.newton.ac.uk/event/tgm143...

Communicating Mathematical and Data Sciences – What does Success Look Like? - Programme | Newton Gateway to Mathematics

gateway.newton.ac.uk

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Irish Fiscal Advisory Council @fiscalcouncil.bsky.social · Jan 4

2/5 This larger deficit was a result of higher-than-expected expenditure. As the Council noted in it’s recent Fiscal Assessment Report, known overruns were not adequately factored into the Budget 2024 forecasts, resulting in this higher-than-expected expenditure.

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Michael McMahon @mcmahonecon.bsky.social · Dec 5

The @fiscalcouncil.bsky.social reaction to the recent Exchequer returns for November.

A little fiscal amuse-bouche ahead of the Fiscal Assessment Report released on Thursday.

Irish Fiscal Advisory Council @fiscalcouncil.bsky.social · Dec 5

1/6 Today’s fiscal monitor shows corporation tax receipts rebounding in November, reversing some of the weakness in recent months. Receipts in November alone were €6.3 billion, €1.3 billion more than last November. The receipts are on track to meet Budget 2024 forecasts.

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