Publications

WP 2023-02. Executive Summary We argue to look at the polity with the very same vista with which modern economics looks at markets, as the polity is nothing but the…

Silicon Valley Bank (SVB) has gone from hero-to-zero in 48 hours. From established bankers to start-ups in the tech, fintech, and biotech industries and to Napa Valley’s premium wineries on…

Introduction – Bulgaria’s recent announcement On 17 February, Bulgarian finance minister Rositza Velkova announced that, rather than continue as planned with the full, formal adoption of the euro on 1…

Last October, US Secretary of State Anthony Blinken declared: “We are at an inflection point. The post-Cold War world has come to an end, and there is an intense competition underway…

Background Since December 2020, Azerbaijan exports natural gas to Europe via three interconnected pipelines – the South Caucasus (Baku-Tbilisi-Erzurum or BTE, operating since 2006), the Trans-Anatolian (TANAP, Erzurum-Eskişehir, inaugurated in…

This time is not about the size, shape and texture of peas or plums. It’s about one of the main economic sector in the EU: about 13 million Europeans work…

Since the French revolution, the distinction between left and right organizes the political universe into opposing camps. When the States General met on May 5, 1789, the nobility took the…

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.…

At the end of the 19th century, Europe was a global powerhouse of innovation. It is where the Industrial Revolution and the Great Enrichment began. Yet, today it is clearly lagging…

Background Global economic activity is expected to slow down because of record-high inflation, large public budget deficits and debts, conflicts between monetary and fiscal policy targets, and lower central banks’…