Fiscal consequences of central bank losses
Central banks engaged in large-scale asset purchase programmes during and after the global financial crisis as well as during the COVID-18 pandemic, significantly increasing the
Regime changes and FDI: A tale of two countries
In the wake of recent political shifts, democratic institutions are being eroded, giving way to a consolidation of governmental power through autocratic means. This column
How geography shapes trade and finance: The legacy of Philippe Martin’s ideas
Philippe Martin, who passed away in December 2023, was an outstanding economist who will be sorely missed, not only by the profession itself – in
Union ‘effects’ on hourly and weekly wages: A half-century perspective
Union membership across the developed world has been falling for decades. This column uses data on wages and hours worked in the US over the
The new operating procedures of the Bank of England: A bonanza for the banks
In their fight against inflation, central banks have raised interest rates dramatically by raising the rates of remuneration of bank reserves. When central banks pay
Inflation’s fiscal impact on households
The US fiscal system is far from inflation neutral. Many provisions, such as the taxation of nominal asset incomes and Social Security benefits, are simply
Outsourcing market access services is a key strategy for firms expanding abroad
Business services like advertising, legal support and market research are key inputs for all manufacturing companies in an international business environment, since they are essential
How the Global Minimum Tax changes the taxation of multinational companies
By introducing a 15% minimum effective tax rate, the Global Minimum Tax aims to curtail base erosion and profit shifting practices and places a multilaterally
The economics of burnout
Recent workforce surveys reveal alarmingly high levels of work-related stress worldwide. Consequently, a significant share of workers experience stress-related occupational illnesses – they burn out.
Low-taxed profit of multinational companies does not only exist in low-tax jurisdictions
The debate over the effective taxation of corporate profit is often focused on the large amounts of profit reported by multinational enterprises in jurisdictions with
