by Stanislas Jourdan | Feb 16, 2021
Dall’inizio della crisi da Covid-19, è emerso un dibattito circa la possibilità di cancellare i debiti pubblici detenuti dalle banche centrali. Seppur realizzabile, la cancellazione del debito non è la miglior proposta per la quale schierarsi.
by Stanislas Jourdan | Jan 14, 2021
Depuis le début de la crise Covid-19, un débat a émergé sur la possibilité d’annuler les dettes publiques détenues par les banques centrales. Bien que la proposition soit faisable techniquement, notre analyse stratégique révèle que les efforts nécessaires pour gagner de telles campagnes seraient très importants, alors que ses gains potentiels sont incertains et plus faibles qu’on ne le pense.
by Stanislas Jourdan | Jan 6, 2021
By clarifying that “the ECB will neither run out of liquidity nor fail”, Christine Lagarde has put an end to the irrational logic according to which central banks could go bankrupt.
by Stanislas Jourdan | Dec 17, 2020
Since the outbreak of the Covid-19 crisis, a debate has emerged on whether we should write off public debts owed to central banks. Despite its technical feasibility, debt cancellation is not the first-best proposal to fight for.
by Stanislas Jourdan | Nov 6, 2020
Once upon a time, market neutrality was supposed to be an untouchable holy principle of the ECB’s quantitative easing, but today the ECB has finally made loud and clear this principle should be reviewed.