The Medicare Maze
Your health shouldn't be someone else's wealth.
Rolling Stone cites Fred Ledley’s INET working paper on the NIH seed funding of pharmaceuticals
A Rolling Stone article by Andrew Perez cited Fred Ledley’s INET working paper on the NIH seed funding of pharmaceuticals.
The Global Pharmaceutical Industry Isn’t Investing in Products for the Greatest Burden of Human Disease - Are Non-Profits a Solution?
Programs for expedited review may be preferentially reducing the development costs for conditions with lesser disease burden, potentially making investments in addressing the most significant disease burdens even less appealing and exacerbating the market failure further.
Hysteresis and the Economy
Do temporary economic shocks like the COVID-19 recession create lasting effects on the economy?
The European Union’s New Risk-Based Framework for Fiscal Rules – Overly Complex, Opaque and Self-Defeating
The discrepancy between technocratic rhetoric and economic facts is colossal.
Introduction and Summary
Shocked to the core: a new model to understand euro area inflation
The pandemic's disruption of global supply chains and the spike in natural gas prices following Russia’s invasion of Ukraine were significant drivers of surging inflation. Traditional inflation models often ignore such supply-side shocks, even though they can have a significant and persistent impact on core inflation in the euro area (as measured by rates of change in the Harmonised Index of Consumer Prices excluding the energy and food components).
Shocked to the core: a new model to understand euro area inflation
The pandemic's disruption of global supply chains and the spike in natural gas prices following Russia’s invasion of Ukraine were significant drivers of surging inflation. Traditional inflation models often ignore such supply-side shocks, even though they can have a significant and persistent impact on core inflation in the euro area (as measured by rates of change in the Harmonised Index of Consumer Prices excluding the energy and food components).
The unequal impact of the 2021-22 inflation surge on euro area households
The 2021-22 surprise inflation surge had a major impact on households in the euro area. It reduced the real incomes and net wealth of most households as there was no immediate increase in nominal wages and pensions, nominal house prices and the nominal value of bonds, deposits, cash and debt following the rise in the price level. This influenced households’ present and future consumption and therefore their welfare.
The unequal impact of the 2021-22 inflation surge on euro area households
The 2021-22 surprise inflation surge had a major impact on households in the euro area. It reduced the real incomes and net wealth of most households as there was no immediate increase in nominal wages and pensions, nominal house prices and the nominal value of bonds, deposits, cash and debt following the rise in the price level. This influenced households’ present and future consumption and therefore their welfare.
Quantifying financial stability risks for monetary policy
When inflationary pressures started intensifying in 2022, the world’s major central banks faced a dilemma. They could rapidly tighten monetary policy at the risk of fuelling financial distress after years of ultra-low interest rates and balance sheet expansion. Or they could take a more gradual approach to fighting inflation that would protect the financial system, but risk high inflation becoming entrenched. While severe financial instability may be an unlikely event (or “tail risk”), it can have devastating macroeconomic consequences.
Pages
