Monetary policies with fewer subsidies for banks: A two-tier system of minimum reserve requirements
Paul De Grauwe, Yuemei Ji The ECB subsidises commercial banks massively against inflation, which constitutes a more than €1 trillion transfer of money from taxpayers to private banks over the next ten years. This column argues the subsidies are exorbitant and proposes a two-tier system of non-interest-bearing minimum reserve requirements on part of bank reserves. […]
Two crises, two continents: how the labour-market impacts have differed
Zsolt Darvas Two once-in-a-lifetime crises have hit the global economy in the past two decades. The first was the global financial crisis (GFC), which began in financial markets in the United States in summer 2007 and intensified after the collapse of Lehman Brothers in September 2008. The second was the economic meltdown that resulted from […]
Ψηφιακά νομισματικά διλήμματα
Αντιγράφω επιστολή αναγνώστη με τίτλο ‘Digital pounds — Big Brother or nanny state?’ στην Φαϊνάνσιαλ Τάιμς της 17 Φεβρουαρίου 2023. Κυριολεκτικώς, τροφή για σκέψη, όπως αποφαίνεται ο επιστολογράφος. “… While the benefit to customers could be huge, for governments I would think the technology would be very useful. The idea of introducing personal taxation based […]