The price of eggs has risen dramatically in recent years across the US. A dozen eggs cost US$1.20 (92p) in June 2019, but the price is now around US$4.90 (with a peak of US$8.17 in early March).
bodrumsurf / ShutterstockDuring Donald Trump’s first term as US president, he regularly referred to rising stock markets as evidence of the success of his economic policies. “Highest Stock Market EVER”, Trump wrote on social media in 2017 after record gains. “That doesn’t just happen!”
The Bank of England welcomes the decision of the European Securities and Markets Authority to extend the existing EU recognition of UK central counterparties.
Are restrictions on fiscal policy necessary for monetary policy to be able to deliver price stability? When households are Ricardian, the net present value of future fiscal surpluses needs to equate the real value of government debt absent inflation. We show that when households are not Ricardian, fiscal requirements still exist but take the very different form of a limit on the debt-to-GDP ratio.
Are restrictions on fiscal policy necessary for monetary policy to be able to deliver price stability? When households are Ricardian, the net present value of future fiscal surpluses needs to equate the real value of government debt absent inflation. We show that when households are not Ricardian, fiscal requirements still exist but take the very different form of a limit on the debt-to-GDP ratio.
The ECB Consumer Expectations Survey (CES) provides regular and timely information on household rent expenditure. This information has been used to analyse developments and to construct an indicator for rent growth that is largely free of composition effects from respondents entering or leaving the panel of survey respondents. Combined with the rich micro data from the CES, this new indicator allows for a detailed analysis of rent growth and its drivers. According to this novel CES-based indicator, rent growth in the euro area peaked in the third quarter of 2023.
This article reviews developments in the euro area housing market during the recent house price cycle and compares them with previous cycles. The recent downturn in house prices was relatively mild and short-lived, as well as less pervasive, compared with the global financial crisis and the sovereign debt crisis and implied smaller adjustments to overvaluations. This limited decline in house prices effectively unwound the exceptional pandemic-related surge in housing demand and, therefore, did not bear the same hallmarks as an outright recession.
The NHS was hit hard by COVID. And no amount of appreciative clapping or painted rainbows could distract from the vulnerabilities which were exposed by the pandemic – or the challenges it created.
Some of those challenges – like the staggering backlog in patient care, or the huge mental and physical toll experienced by staff – will take years to overcome.
SARAWUT KAEWKET/ShutterstockThe UK government has published its planning and infrastructure bill, a cornerstone of its strategy for growth.
Only humans can be awarded patents, but AIs can do a lot of the work to earn them. lineartestpilot/iStock via Getty ImagesThe advent of generative artificial intelligence has sent shock waves across industries, from the technical to the creative.
