Without China and India, global interpersonal income inequality in 143 countries was higher in 2015than in 1988. Has the rest of the world really become more equal?
Since their accession to the EU 15 years ago, the incomes of most central Europeans have increased faster than the incomes of longer-standing members and, thereby, they moved upwards in the EU distribution of income. Yet the very poorest people have not progressed in some countries.
Developments in digital technology have prompted a ‘tabloidisation’ of traditional media, created opportunities for the misuse of information online, and closed the decision-making horizon for politicians.
Independent fiscal institutions have no formal powers to act and have to rely on soft power to influence the budgetary process. This blog post investigates how they exercise this soft power by enhancing public scrutiny of fiscal policies.
Larry Summers’ and Łukasz Rachel’s most recent study documents a secular fall in neutral real rates in advanced economies. According to the authors, this fall would be even more marked in the absence of offsetting fiscal policies. Policymaking in a world of permanently low interest rates may be hard to navigate, especially in troubled waters. We review economists’ views on the matter
Tax avoidance and evasion harm the public coffers, and increase inequality and poverty. This post summarises the recent debate on several aspects of the issue: the update of the European blacklist of tax havens and the related recent report from Oxfam, a call for reform of international taxation by the IMF, and the request for IRS reform by US democratic senators.
The preliminary results on the Universal Basic Income (UBI) experiment in Finland, and what they mean for the long-standing questions over the potential impact of UBI in developed countries.
How can Europe catch up on the global electric vehicle race?
Francesco Papadia and Inês Gonçalves Raposo have recently written on Italian fiscal policy and the increase in the spread between Italian (BTP) and German (Bund) government. Since then, two developments have taken place: one good, and one bad. This blog post reviews them.
This episode of The Sound of Economics features Bruegel senior fellow Zsolt Darvas in conversation with Maurizio Bussolo and Bernadette Ségol about income inequality in Europe and Central Asia, and the policy principles underpinning a possible new social contract.
This event will look at a a proposal for a new social contract put forward by the World Bank.
The fiscal and welfare costs of public debt, following Olivier Blanchard's presidential lecture at the American Economic Association, in which he suggested both might be lower than expected. We review his paper, along with several scholars' comments, and provide a quick comparison with the European context.