Walter Scheidel indicates that persistent European fragmentation after the collapse of the Roman Empire leads to modern economic growth and development.

The U.S. Treasury yield curve inverts for the first time since the Global Financial Crisis. The key term spread between the 10-year and 3-month U.S. Treasur

New computer algorithms and passive mutual fund managers run the stock market. Morningstar suggests that the total dollar amount of passive equity assets re

U.S. federalism and domestic institutional arrangements A given country is federal when both of its national and sub-national governments exercise separa

Michael Woodford provides the theoretical foundations of monetary policy rules in ever more efficient financial markets. Michael Woodford (2003)  

European Central Bank designs its current monetary policy reaction function and interest rate forward guidance in response to key delays in inflation conver