Globalisation and the effective taxation of capital versus labour

Pierre Bachas, Matthew Fisher-Post, Anders Jensen, Gabriel Zucman  Globalisation has wide-ranging effects on tax systems. This column uses a new dataset of taxes on capital and labour across countries and time to assess these dynamics. The authors document a global convergence of average effective labour and capital taxes over time, as labour taxes have increased […]

Η απώλεια της εκπαίδευσης στην πανδημία

Παρακολουθήστε εδώ μια συζήτηση για τις μακροχρόνιες οικονομικές συνδηλώσεις της μειωμένης εκπαιδευτικής λειτουργίας στην διάρκεια της πανδημίας. Μπορεί η πολιτική να επιτύχει κάποιας μορφής ανάκτηση του χαμένου εδάφους;

Deciding when debt becomes unsafe

Olivier Blanchard When does the level of debt become unsafe? To answer this question, we need a definition of “unsafe.” I propose the following: Debt becomes unsafe when there is a non-negligible risk that, under existing and likely future policies, the ratio of debt to GDP will steadily increase, leading to default at some point. […]