It is fair to say that the euro crisis was a game-changer in our thinking about the viability of currency unions in general and euro accession in particular. I will try to be brief and get right to the point. I would like to...
According to the latest NBP inflation report, economic growth will gradually accelerate without the risk of rising prices. This will allow interest rates to remain stable. The Ukrainian crisis will not impact negatively on the...
There is no reason to believe that within the next six months, and probably even more, something will significantly change the course of economic events specified in the November "Inflation Report" of NBP. Therefore, the Monetary...
“The new inflation projection shows that there is room for a safe decrease in interest rates, and so the Monetary Policy Council made a fairly radical cut. The Council had been moderate in its responses to the increase in...
MPC's last announcement makes it clear that the process of easing monetary policy has begun. We are witnessing an economic slowdown when it is difficult to keep the level of public debt in check. Our economy's sustainable...
When Wayne D. Angell, who passed for the one of the Fed’s most vigorous inflation fighters, left the Fed in 1994, one of the American newspapers commented on his resignation – Angell leaves, the demon of inflation arrives....
written with Dr Alexander Mirtchev For as long as there has been the systematic issuance of currency, there have been governments keen to control that currency. Some policies, of course, have been effective, while others...
Debt reduction is now the real story of the American economy, just as real story behind the apparent free lunch of the last two decades was rising debt. The secret that has completely eluded Bernanke is that aggregate demand is...
The precision of this statement puts a smile on our face. It exemplifies how incredible are exact conclusions from opaquely understood premises. Reuven Brenner of McGill University shows when, why and how economists are making...
Wow! We see the word „Deflation” everywhere; we see it in every financial publication and hear it every time we turn on financial TV. We see that the pundits who were bearish because of runaway inflation have just...