r.nagy/ShutterstockEconomists have argued for years that council tax in the UK was rushed in and badly thought out. After the poll tax fiasco of the early 1990s, a substitute was urgent. The answer was council tax, but this was almost as unfit for purpose as the poll tax it replaced.
Interest rates are a tricky balancing act, as Fed Chair Jerome Powell knows well. AP Photo/Alex BrandonThe Federal Reserve is in a nearly impossible spot right now.
Go directly to jail? Not quite. Sergey Chayko/Getty Images PlusWith the indictment on Oct.
Women typically earn less than men per hour that they work. MoMo Productions/DigitalVision via Getty ImagesWomen in the U.S. typically earned 85% as much as men for every hour they spent working in 2024. However, working women are faring much better than their moms and grandmothers did 40 years ago.
INET’s new data archive of historical political finance records at the National Archives assembles all campaign finance reports filed by political parties and presidential candidates up to 1974, the year before the Federal Election Commission was established.
To ensure that means of payments are readily interchangeable at face value – i.e. fungible – for retail payments, three elements are required: (1) settlement finality; (2) interoperability; and (3) seamless convertibility of the means of payment into the “ultimate” or quasi-ultimate means of payment.
To ensure that means of payments are readily interchangeable at face value – i.e. fungible – for retail payments, three elements are required: (1) settlement finality; (2) interoperability; and (3) seamless convertibility of the means of payment into the “ultimate” or quasi-ultimate means of payment.
Using a granular database of variable rate euro area loans and analysing their defaults between 2014 and 2019, we show that the effect of interest rate changes on mortgage defaults is highly non-linear. First, we find that the risk associated with higher contemporaneous interest rates is concentrated among borrowers who got the loan at ultra-low interest rates, their default probability being 2.6 times higher than our sample average.
Using a granular database of variable rate euro area loans and analysing their defaults between 2014 and 2019, we show that the effect of interest rate changes on mortgage defaults is highly non-linear. First, we find that the risk associated with higher contemporaneous interest rates is concentrated among borrowers who got the loan at ultra-low interest rates, their default probability being 2.6 times higher than our sample average.
Top economic officials met in Madrid for a second day, with deadlines looming on tariffs and a ban on TikTok in the United States if it is not sold by its Chinese owner, ByteDance.
