Blog

Is the United States Reneging on International Financial Standards?

| 20 April 2020
Blog, Monetary | Tags: Covid-19, Debt, Federal Reserve, Financial Regulation
The financial shock surrounding the COVID-19 pandemic has prompted the Federal Reserve to temporarily loosen an important capital-to-asset ratio requirement for US banks. In so doing, it is walking away from a decade-long commitment to global financial reforms forged in the wake of the global ... continue reading

Argentina. A Short Blanket for the Coronavirus Long Night

and | 3 April 2020
Blog, Fiscal, Monetary | Tags: Central Banks, Covid-19, Fiscal Space, Health, Inflation, Informality
The coronavirus has arrived, and Argentina has played its cards. First life, then the economy. While it is non-debatable that the consequences of the pandemic will be enormous throughout the world, the magnitude of the impact is still uncertain. Argentina is a special case on three ... continue reading

The ECB Response to COVID-19

| 27 March 2020
Blog, Monetary | Tags: Asset Purchases, Covid-19, European Central Bank, Helicopter Money, Targeted Refinancing Lines
Since the outbreak of the COVID-19 crisis, the European Central Bank (ECB) committed to inject an additional 870 billion euro – about 7% of the euro area’s GDP – into financial markets to address the significant challenge the pandemic poses to the economy. Through its ... continue reading

The Dark Side of the Moon. Responding to the COVID-19 Crisis in Developing Economies

| 25 March 2020
Blog, Fiscal | Tags: Covid-19, Development, Inequality, Informality
Besides China and Iran, the impact of the coronavirus has until now been most severe in advanced economies including France, Germany, Italy, South Korea, Spain and the US. This is unlikely to remain so. As the virus continues its spread around the world it will ... continue reading

Fiscal Policy Responses to the Coronavirus Outbreak

| 20 March 2020
Blog, Fiscal | Tags: Covid-19, Inequality, Informality, Tax Expenditures, VAT
The global crisis we are facing is one of the worst in history. The priority, obviously, is to reduce the number of coronavirus victims. At the same time, mitigating the economic impacts is vital. Both the real economy and financial markets worldwide have already been hard ... continue reading