Flush with cash, Facebook, Apple, Amazon, Microsoft and Google are positioned to emerge from a downturn stronger and more powerful. As usual.
Billionaire banker André Esteves’s comeback has been formalised, several years after arrest led to resignation
Gap between equity-rich house owners and first-time buyers set to widen as cost of living crisis hits
Unrestricted vacation policies tend to lead to fewer days taken off
Jeremy B. RuddRecently, the experience of the 1960s—when the U.S. inflation rate rose rapidly and persistently over a comparatively short period—has been invoked as a cautionary tale for the present. An analysis of this period indicates that the inflation regime that prevailed in the 1960s was different in several key regards from the one that prevailed on the eve of the pandemic. Hence, there are few useable lessons to be drawn from this experience, save that monetary policymaking remains a difficult undertaking.
David Ratner and Jae SimIs the Phillips curve dead? If so, who killed it? Conventional wisdom has it that the sound monetary policy since the 1980s not only conquered the Great Inflation, but also buried the Phillips curve itself. This paper provides an alternative explanation: labor market policies that have eroded worker bargaining power might have been the source of the demise of the Phillips curve.
Saroj Bhattarai, Jae Won Lee, Woong Yong Park, and Choongryul YangWe study aggregate, distributional, and welfare effects of a permanent reduction in the capital tax rate in a quantitative model with capital-skill complementarity and household heterogeneity. Such a tax reform leads to expansionary long-run aggregate output and investment effects, but those are coupled with increases in wage, consumption, and income inequality.
Settlement by Europe’s largest insurer comes as authorities vow to get tougher on white collar crime
Do Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early.
Value of customer assets deposited on platform has shrunk by half since the start of 2022