Fiscal competition and economic freedom


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A wide look at Digital Euro – part 1: risks, costs, and benefits for the users

by Leonardo Baggiani    12 May    0

The European Central Bank is working on her own digital currency: the Digital Euro (DE). Several details are provided in the specific ECB report. There are still many technical problems to solve and structural choices to make before implementing DE. Yet, some features seem clear. DE would be a (...)

The Gig Economy: A good deal for workers

by Kalle Kappner, Translated by Anna-Maria Kohnke    5 May    0

Occasional sleeping in a shared flat; getting a lift from the airport to the city centre; moving house with the help of a bunch of students – an increasing number of people uses the diverse, often inexpensive offers of digital platforms such as Airbnb, Uber, or TaskRabbit. Although the economic (...)

The tourism Industry: Will the Covid-19 Pandemics Change the Economy?

by Sergio Beraldo    28 April    0

Tourism positively affects the balance of payments, attracts new foreign direct investment and is key to stimulating economic development and cultural change in many countries. Its contribution to alleviating poverty is also significant. For every job directly created in the sector, about 1.5 (...)

The Collapse of Hedge Fund Archegos Exposes Weaknesses in the Basel Rules

by Gordon Kerr and Bob Lyddon, with Enrico Colombatto    21 April    0

Late in March Archegos Capital, a New York based hedge fund, collapsed and triggered significant losses for its funding banks. The two most exposed lenders are Credit Suisse, who expect to lose $4.7 billion, and Nomura ($2 billion), but the combined losses of all its banks is estimated at $10 (...)

Why the Karlsruhe Court is the last wall before debt monetization

by Samuele Murtinu    14 April    0

Pundits from all quarters harshly criticized the German Federal Constitutional Court of Karlsruhe after its judgment of last 5 May 2020. The Court raised constitutional complaints in regard to the Bundesbank’s approval of the European Central Bank (ECB)’s Public Sector Purchase Programme (...)

Five Years of One-In-One-Out: Room for Improvement

by Alexander Fink, Alexander Mengden, Translation by Anna-Maria Kohnke    7 April    0

Germany introduced the so-called ‘bureaucracy brake’ in January 2015. Whenever new legislation is passed, the ‘one-in-one-out’ principle applies: it obliges the bureaucracy to eliminate old regulation whenever new rules are introduced, to avoid that that regulatory layers multiply and the burden (...)

Joe Biden’s New Economic Plan will have devastating economic consequences

by Mohamed Moutii    31 March    0

In recent months, the USA has known exceptional tensions: the country has experienced outbreaks of violence and is deeply divided. On January 15, President Joe Biden announced his $1.9 trillion COVID-19 stimulus plan titled the “American Rescue Plan”. He described it as an emergency package to (...)

Divergent Software Costs Capital Treatment for UK and EU Banks. Merely a Technicality?

by Gordon Kerr, Cavin O’Driscoll with Enrico Colombatto    24 March    0

In February, the Bank of England (BofE) published its latest proposals for new regulations, which are openly stated to continue the implementation of the global Basel III banking standards. This 87-page Consultation Paper is presented as the next phase of reforms which respond to the 2007-8 (...)

Who’s biased?

by Leonardo Baggiani    17 March    0

The recent paper “Fifty Shades of QE: Conflicts of Interest in Economic Research” by Fabo et al. investigates the possible biases of economic research when analysing QE effectiveness. Part of the research efforts on this subject is led by economists who work at the very central banks that design (...)

When Draghi Came to Town

by Sergio Beraldo    10 March    0

Populism Italian Style and some bizarre ideas about representative democracy came to an end when prime minister Giuseppe Conte resigned and Mario Draghi took his place. Draghi has become a national hero and people have been changing their minds. They no longer trust that bombastic stories could (...)

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