In many Germanic languages, the word for ‘debt’ also means ‘guilt’. This column explores whether the linguistic overlap leads to greater debt aversion in Germany, the Netherlands, Sweden, and Switzerland. Using a guilt-laden term reduces willingness to borrow, lowers approval for government debt, and influences firms’ financing plans and politicians’ framing of fiscal policy. While […]
UK CPI inflation in 1975 reached 25%, a period now known as the ‘Great Inflation’. This column uses a range of empirical and narrative evidence to illustrate the importance of fiscal policy in this period. While stabilising and reducing debt has been the primary peacetime fiscal policy objective for most of modern British history, this […]
The data did not offer much insight into job creation since March, leaving U.S. rate expectations unchanged for now. The dollar held steady on Wednesday ahead of U.S. inflation data this week that could help shape the outlook for Federal Reserve policy, while a fraught geopolitical backdrop underpinned the likes of the Swiss franc. Employment […]
