capital market

Working Paper Series. Written by David Howden. Canonical Austrian business cycle theory holds that a lower rate of interest lengthens the structure of production. Fillieule (2007) derives the opposite conclusion: the average period of production rises with the rate of interest. I argue in this article that the apparent conflict dissolves once two distinct meanings of lengthening […]

  The European Council summit of March 19-20 was overshadowed by the Iranian crisis in the Strait of Hormuz and Hungary blocking a 90 billion-euro loan to Ukraine. But crucially, European leaders also chose to move forward with the Savings and Investment Union. The initiative provides high-level political backing for tapping into an estimated 10 […]