Ricardo's threads | Nothing contributes so much to the prosperity and happiness of a country as high profits

Geopolitics and trade in the euro area and the United States: de-risking of import supplies?

10/27/2024 European Central Bank Central banks

Based on granular data at the product level, this paper looks at whether and how the euro area and the United States have modified their import sourcing strategies since 2016, the role played by geopolitical tensions and the potential impact on import prices. It considers two different, but not mutually exclusive, changes to sourcing strategies for a given product: (i) increasing the number of sourcing countries and (ii) reducing the import market share of the main supplier country.

IFDP Paper: U.S. Monetary Policy Spillovers to Emerging Markets: Both Shocks and Vulnerabilities Matter(Revised)

10/25/2024 Federal Reserve Central banks

Shaghil Ahmed, Ozge Akinci, Albert QueraltoWe use a macroeconomic model to explore how policy drivers and country vulnerabilities matter for the transmission of U.S. monetary policy shifts to emerging markets. Our model features imperfections in domestic and international financial markets and imperfectly anchored inflation expectations. We show that higher U.S. interest rates arising from stronger U.S.

Why billionaire philanthropy might not be as generous as you think

10/25/2024 The Conversation UK

Walmart heiress Alice Walton is one of the richest people in the world and a celebrated philanthropist, whose lifetime giving total recently hit an estimated US$1.5 billion (£1.2 billion). Her largest gift to date, US$390 million in the year to September 2023, included US$249 million for the Alice L Walton School of Medicine in her family’s hometown in Arkansas, US.

Florida’s new condo laws recognize the total price of living on the beach

10/25/2024 The Conversation USA

Repairing high-rise condos like this one in Miami Beach can cost millions. Jeffrey Greenberg/Universal Images Group via Getty ImagesNearly a million Florida condo owners face an important deadline at the end of the year.

In her first budget, the chancellor faces a minefield of risks

10/25/2024 The Conversation UK

Ahead of the new government’s first budget on October 30, chancellor Rachel Reeves has revealed her determination to change borrowing rules that will allow her to boost investment spending.

Minutes of the SONIA Stakeholder Advisory Group - 26 September 2024

10/25/2024 Bank of England Central banks

The SONIA Stakeholder Advisory Group supports the Bank’s administration of SONIA by providing advice and technical input to the Bank and the SONIA Oversight Committee

How Harris and Trump’s economic pledges stack up

10/25/2024 The Conversation UK

kovop / ShutterstockWe’re now in the home straight of the US election race, and the economy looks set to play a key role in deciding who will be sat in the White House come January 2025.

FEDS Paper: Quasi Maximum Likelihood Estimation and Inference of Large Approximate Dynamic Factor Models via the EM algorithm

10/24/2024 Federal Reserve Central banks

Matteo Barigozzi and Matteo LucianiWe study estimation of large Dynamic Factor models implemented through the Expectation Maximization (EM) algorithm, jointly with the Kalman smoother.

How Elon Musk has become a powerful figure in US politics

10/24/2024 The Conversation UK

Elon Musk, whose company SpaceX recently made history by catching a Starship rocket booster as it careened back to Earth, wants you to vote for Donald Trump for many reasons. That includes not just what Trump will do here on this planet, but also for what he’ll achieve that’s outside this world. “Vote for @real DonaldTrump,” Musk recently tweeted, “if you want humanity to be a spacefaring civilization”.

Coffee price volatility harms the mental health of farmers

10/24/2024 The Conversation UK

Oleg Brusencev/ShutterstockCoffee is a drink that punctuates many of our lives. Millions of us depend on this dark liquid to start the morning, or to break up the day.

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