fiscal policy

french yellow vest

Taxes, the unpopular conundrum

Fernando G. Urbaneja | In France, president Macron, making good arguments, although not explaining them enough, wanted to raise taxes on fuel and millions of citizens forced him to back down. In Ecuador, President Lenin Moreno has gone through such a trance for the same reason. In Chile, President Piñera is on the verge of eviction for the attempt to raise urban transport rates.



euro coins

The Eurozone’s major fiscal stimulus of the decade may arrive not with a common plan but rather through national initiatives

The market has scarcely contemplated the possibility of a major fiscal stimulus in the Eurozone. However, the strategists at Morgan Stanley believe that, after two years marked by a restrictive fiscal policy, we could see the largest fiscal stimulus of the last decade, not through a common plan, but rather through national level initiatives, especially in Germany, France, Italy and Spain.




Olivier Blanchard

IMF: The Blanchard Touch

PARIS | April 20, 2015 | By Francesco Saraceno |  Recently I commented on the intriguing box in which the IMF staff challenges one of the tenets of the Washington consensus, the link between labour market reform and economic performance. But the IMF is not new to these reassessments. In fact over the past three years research coming from the fund has increasingly challenged the orthodoxy that still shapes European policy making.


export

Export-led economies lose steam

MADRID | By JP Marín Arrese | No need to wait for IMF forecasts. The hasty downfall in oil prices signals a steep deterioration in most export-led economies, ranging from China to Brazil. An upsurge in the US dollar coupled with prospects of more stringent credit conditions, are rapidly changing the global mood towards risk aversion. As hot money flees emerging countries bogging down their investment plans, main suppliers of capital goods such as Germany become increasingly crippled. 



No Picture

Milking the wealthy the British way

LONDON | Law-abiding citizens are happy, the government boasts about it and fiscal fairness rule over the land. But what does a £500-million extra tax bill collected from the wealthiest since 2009 says about the UK?


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“Without a fiscal authority, Europe will always be a poorly designed system”

Professor of Economics at Columbia University Martin Uribe strongly believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. For this expert in macroeconomic analysis, who has worked for many universities and institutions including the European Central Bank, the lack of tax policy at a European level is condemning the least developed countries to beg for aid. Uribe talked to The Corner summer interviews’ series from…