Rising energy prices suggest that the European Central Bank and the Federal Reserve will have to increase interest rates faster than they intended to before the invasion.
Increased public spending by European countries to accommodate larger defense budgets, migration inflows and accelerated investment in alternative energy sources would be better financed mostly through taxes, rather than debt.
Economic damage from the shock to global commodity markets will fall disproportionately hard on low- and middle-income countries.
A windfall tax on the profits of large oil companies – with the revenue rebated to households – would provide an efficient means to protect the average US household from rising energy costs.
Temporary suspension of state and federal gas taxes would lead to a meaningful and immediate reduction in consumer prices at the pump.
What are the likely economic consequences of Russia’s invasion of Ukraine and the responses by the international community? We invited our US and European experts to express their views on the potential fallout for the Russian economy, the European economy, the US dollar’s role as an international currency, and global growth and inflation. We asked both panels whether they agreed or disagreed with the following statements, and, if so, how strongly and with what degree of confidence:
What are the likely economic consequences of Russia’s invasion of Ukraine and the responses by the international community? We invited our US and European experts to express their views on the potential fallout for the Russian economy, the European economy, the US dollar’s role as an international currency, and global growth and inflation. We asked both panels whether they agreed or disagreed with the following statements, and, if so, how strongly and with what degree of confidence:
The American Rescue Plan Act of 2021 temporarily increased the value of the child tax credit from $2,000 to $3,000 for children aged 6-16 and to $3,600 for younger children. To date, the Biden administration has been unable to renew the expansion of the child tax credit, amid broad public debate about its effects on child poverty and parental labor supply, as well as its potential longer-term fiscal benefits.
The pandemic has led to a big shift to working from home among people in occupations where it is possible for the jobs or some part of them to be done remotely. There has been much debate about the extent to which such forms of working (or a hybrid model, with some hours done at home and some on business premises) will continue over the longer term. Key questions include the potential impact on employees’ productivity and their job satisfaction, and whether the career trajectories of women and men may be affected differently by a substantial increase in working from home.
