The global rise in food commodity prices is passing through strongly to the consumer prices that households pay for these products. Further, the current episode has seen a more widespread increase in food items than other historical periods of stress in these markets. The results of an...

Over the past decade, geopolitical developments - and the policy responses to these by major economies around the world - have challenged economic openness and the process of globalisation, with implications for the economic environment in which central banks operate. The return of war to Europe...

Should societies (governments) save during economic expansions in order to cover the costs of extraordinary situations, such as natural or biological catastrophes or, more generally, economic crises? This question has been raised once again by the economic and social crisis linked to the...

English Abstract: Using microdata from the European Union, the United States and Japan, we show that the elderly bear lower effective tax rates than the young. This difference is explained by the income gap and the different generational consumption baskets. However, tax reforms enacted in...