Not all foreign exchange reserves are created alike
Antonin Chenard, Barry Eichengreen, Eric Monnet, Florian Morvillier The motives for the accumulation and management of foreign exchange reserves are a key topic in international economics. This column highlights an aspect of the international monetary system that has been the subject of little research: the distinction between foreign exchange reserves held as deposits and securities. […]
Building tax capacity through better administration
Tyler Smith For decades, economists have sought to understand why developing countries collect so little tax revenue. Tax-to-GDP ratios in low-income countries typically hover around 10 to 15 percent, while wealthy economies routinely collect 30 to 40 percent. The predominant explanation has emphasized “information trails“—third-party reporting from banks, employers, and other firms that make income visible to […]
Αριθμός ανέργων στην Γερμανία (εκατομμύρια μηνιαίως, εποχικώς προσαρμοσμένα), 2010-2026
