The financial and economic sanctions so far imposed on Russia to force it to end its invasion of Ukraine have not yet had the desired impact. This column argues that cutting off the financing of the Russian aggression is essential and requires immediately banning imports of Russian oil and taxing imports of Russian gas, while cushioning the shock of these measures on
What are the likely economic consequences of Russia’s invasion of Ukraine and the responses by the international community? The IGM Forum at Chicago Booth invited its panel of leading European and US economists to express their views. As this column reports, an overwhelming majority of the experts think that the economic and financial sanctions that have been implemented to
In January 2023, the escape clause triggered to suspend the rules of the Stability and Growth Pact will expire, possibly forcing painful fiscal adjustments in countries that are already struggling with the impact of the pandemic. In this second column in a two-part series, the authors focus on the debt management aspect of their proposal to strengthen the European fiscal
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