The High Cost of Winning

Originally published in Issue IV of the St Andrews Economist By: James McNamara Playing host to the world’s legends has always been the pinnacle of sporting pride for any nation. But aside from all the grandeur, how do these major events really impact a region’s economy? The short answer: it is virtually impossible to accurately…

Monetary Policies of the ECB and the Bank of England

By: Renzo Forastiero “The primary objective of the ECB’s monetary policy is to maintain price stability. The ECB aims at inflation rates of below, but close to, 2% over the medium term.” The above sentence highlights the main flaw of the mandate given to the European Central Bank (ECB) at the Euro’s inception, inflexibility.   It’s…

IMF Strengthens Argument for Higher Inflation in Eurozone

By: Grzegorz Janota The International Monetary Fund’s newly released paper by Reinhart and Rogoff evaluates measures used by the European Central Bank (ECB) to combat debt. The authors point out that, with current debt levels, growth in the Eurozone would be stunted by 1.2% over the next 23 years. In addition to austerity measures, the…