A proposal from a cross-party group of politicians could break the deadlock with the country’s biggest bank

Russia’s wartime economy is getting weaker as the war in Ukraine approaches its fourth anniversary, according to a recent report by PeaceRep, a research group led by the University of Edinburgh. The report, Against the Clock? Why Russia’s War Economy is Running Out of Time, finds that Russia is being forced to spend aggressively on the war, while its earning abilities have dropped significantly.

Sergio VillalvazoThis paper studies the cross-sectional dimension of Fisher's debt-deflation mechanism that triggers endogenous Sudden Stop crises-i.e., episodes with large reversals in the current account. Analyzing microdata from Mexico, we show that this dimension has macroeconomic implications that operate via opposing effects. First, an amplifying effect by which households with high leverage fire-sale their assets during crises, increasing downward pressure on asset prices.

Announcement of a new CEO seemed to start smoothly but now threatens to descend into a mess