Independent research and policy analysis on fiscal, monetary, and
regulatory issues in Europe
Milton Friedman is often quoted as having said something to the effect that inflation is taxation without legislation on multiple occasions during his career (cf. for example Friedman and Friedman 1980, Ch. 9). In other words, he pointed out that …
Submit your research to the IREF Working Paper Series. Selected papers are eligible for publication and receive an honorarium of up to €2,000, including additional compensation for outreach (blogpost, podcast).
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We revisit the euro’s promise of convergence through a new Divergence Monitor tracking business and financial cycle synchronization since the …
by Tom Bugdalle and Moritz Pfeifer -
The 10th Austrian Economics Meeting Europe will take place at the Université Catholique de l’Ouest (UCO) in Angers (France) from …
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For much of the past decade, Europe has been weighed down by prolonged economic stagnation. Growth has slowed, productivity has …
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As the story goes, there are no free rides. The costs of each journey must necessarily be borne by someone. …
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America’s housing market is failing a growing share of households. Prices and rents are at record highs, and homeownership is …
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UK government’s plans to track and de-risk its own ‘shadow debt’ show the costs of the Net Zero transition will be imposed directly onto businesses and consumers
by Bob LyddonIntroduction The UK Budget papers of November 2025 acknowledge the funding models through which the government plans to increase the …
by Bob Lyddon

