WP 2023-02. Executive Summary We designed a Survey Experiment (SE) to study the attitudes of the Italians towards wealth, income and consumptions taxes. In particular, we interviewed a sample of…
WP 2023-01. Executive Summary Today’s views and analyses about taxation are dominated by the social-welfare approach based on various categories of utilitarianism, most notably those developed by the optimal-tax literature.…
There was universal relief in the UK and international media at the demise of Prime Minister (PM) Liz Truss and her replacement by the man she had recently defeated in…
Towards the end of August, every year investors focus on the Jackson Hole conference of the central banking global elite. Given widespread acceptance among central bankers that non-temporary inflation is…
Consumer prices started rising in 2021, and the rise has quickly gathered speed. Many politicians and central bankers were caught by surprise. They initially claimed that price inflation was provoked…
WP 2022-04. Exectutive Summary When the supply of money increases and the supply of goods remains the same, inflation occurs. Thus, inflation is a monetary phenomenon. We discuss the essence…
IREF Newsletter
ECB Policymakers Run Out of Options; Antifragmentation Cannot BOTH Address Inflation AND Contain Spreads
When the history of the euro currency’s rise and decline in popularity is written, the month of June 2022 will be viewed as decisive. In June, the ECB committed to…
WP 2017-03. Property rights play a crucial role in economics: They define the very essence of this discipline, which studies how individuals exchange in order to enhance their welfare, subject…
China devalued its currency by 3%. Financial markets responded disproportionately, but we explain that it is quite understandable, given government policies in the rich countries.
We then investigate the devaluation’s effect on the US and EU financial markets as well as on the currencies of emerging markets.
Ultra Low Interest Rates have destabilized the global Economy whose capital markets now show signs of Illiquidity.
Stress testing of banks by central banking authorities has come to prominence as reliance on the traditional accounting standards has waned. Europe’s banking system was successfully stress tested last October, but we were not impressed.
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