Implications of the Inflation Reduction Act for the Biotechnology Industry
Sensitivity of investment and valuation to drug price indices and market conditions
Crying Wolf: Why Negotiating Lower Drug Prices Will Not Harm Pharmaceutical Innovation
Increasing evidence that the IRA is probably not harming pharmaceutical innovation.
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Results of the Semi-Annual FX Turnover Surveys in April 2024
See the headline results from an April 2024 survey of 27 financial institutions that are active in the UK foreign exchange market.
FEDS Paper: Insurers' Investments and Insurance Prices
Benjamin Knox and Jakob Ahm SørensenWe develop a theory that connects insurance prices, insurance companies’ investment behavior, and equilibrium asset prices. Consistent with the model’s predictions, we show empirically that (1) insurers with more stable insurance funding take more investment risk and, therefore, earn higher average investment returns; (2) insurers set lower prices on policies when expected investment returns are higher, both in the cross-section of insurance companies and in the time series.
IFDP Paper: Tax Heterogeneity and Misallocation
Baris Kaymak and Immo SchottThere is substantial asymmetry in effective corporate income tax rates across firms. While tax asymmetries would reduce productivity in frictionless economies, they can improve efficiency in a distorted economy if taxes alleviate other economic frictions. We develop a framework to estimate to what extent tax asymmetries affect productivity in distorted economies.
Minutes of the Meeting of the Court of Directors held on 22 May 2024
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
IT outage
Bank of England statement
Appointment of members of the Enforcement Decision Making Committee
Following an external recruitment process and consultation, the Bank of England (Bank) has appointed three new members to its Enforcement Decision Making Committee (EDMC) taking the total to nine.
IFDP Paper: Monetary Policy without Moving Interest Rates: The Fed Non-Yield Shock
Christoph E. Boehm and T. Niklas KronerExisting high-frequency monetary policy shocks explain surprisingly little variation in stock prices and exchange rates around FOMC announcements. Further, both of these asset classes display heightened volatility relative to non-announcement times. We use a heteroskedasticity-based procedure to estimate a “Fed non-yield shock”, which is orthogonal to yield changes and is identified from excess volatility in the S&P 500 and various dollar exchange rates.
Expert: Why Covid and Future Pandemics are a Bigger Threat than Nukes
Dr. Phillip Alvelda tells INET’s Lynn Parramore about persistent political and public health failures exposing us to devastating diseases, while vastly underestimating their long-term health effects.
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