Essays & News

Heterogeneous effects across bank types written by Karl-Friedrich Israel, Moritz Pfeifer, Tim Sepp , and Benjamin Treitz.  May 25, 2026 Monetary policy changes the stability of German banks differently based on their ownership and business goals. Existing literature shows that monetary policies stabilize markets but can also encourage institutions to take higher risks. Using monthly balance sheet data […]

  “Educate and inform the whole mass of the people … They are the only sure reliance for the preservation of our liberty”.  Thomas Jefferson (1743-1826)   Take Away The Declaration of Independence is a document created not around personalities or political passions, on the contrary it commenced around the enduring liberal key principles: Limited […]

  In March 2022, when Prince William and Princess Kate arrived in the Bahamas, their airport motorcade did not feature the usual Jaguars or Rolls-Royces. Instead, it consisted of BYD Tang vehicles.Chinese electric vehicles have moved to center stage at auto shows worldwide. The shift has been striking enough that Jim Farley, chief executive of […]

  France once took great pride in its position in Africa and its close ties with African countries, especially those in the francophone world. Yet over the past decade, those relationships have steadily deteriorated. The decline accelerated shortly after French President Emmanuel Macron took office in 2017. Remarks he made about African demographics and family […]

  A brief outline for the XX. Gottfried von Haberler Conference Austrian Economics at Work   “Nobody can be a great economist who is only an economist – and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger.”   […]