Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising given Mongolia's geography, are determined primarily by local supply conditions, highly seasonal, and subject to large but short-lived shocks (usually weather related). Nonetheless, demand factors are also found to be significant in explaining price movements and empirical evidence suggests that a 10 percent increase in government wages, for example, would p
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The current BBC charter expires at the end of next year. Conservative proposals for the broadcaster's future are nothing short of an assault on democracy, writes Steven Barnett.
As a result of the phone‐hacking scandal and evidence of other serious journalistic abuses by some newspapers, the government set up the Leveson Inquiry to hear evidence from victims and to make recommendations for a new and effective system of press regulation. Leveson's recommendations for independent self‐regulation overseen by a "recogniser" was seen as a moderate solution which would uphold the principle of an unfettered press while providing appropriate protection from unscrupulous or unethical press behaviour. After historic cross‐party agreement, Parliament passed a resolution accepting a Royal Charter which adopted the great majority of his recommendations. In response, Britain's main national newspapers have pursued a campaign of systematic misinformation and distortion, aimed at discrediting the inquiry, its supporters and the cross‐party Charter, while promoting a different system which would remain almost wholly controlled by the industry and would in practice be little different from the discredited Press Complaints Commission. After decades of ineffectual political response to press abuse and press power, there is now a historic opportunity for Parliament to assert its sovereign power. Over the next 12–18 months, we will see whether we have reached a genuine milestone in British public life or whether the British press will remain the last bastion of unaccountable power.
