The rebound in United States equities on Thursday is real, and it is one name deep. The NASDAQ 100 (NDX) trades near 27,950 after a gain of almost 3%, having printed its lowest level in two months in the 27,200 area inside the opening minutes. The Dow Jones Industrial Average (DJIA), which holds five of…
We are grateful for comments to Larry Ball, Yuriy Gorodnichenko, Ina Hajdini, Lubos Pastor, seminar participants at the University of Chicago, Harvard, University of Iowa, and participants at the NBER Inflation: Frontiers or Research and Policy conference. The views expressed herein are those of the authors and do not necessarily reflect the views of the…
20 July 2026 Firms reported further net tightening of bank loan interest rates and other loan conditions related to price and non-price factors. Firms signalled a small increase in financing needs, while availability of bank loans remained broadly unchanged, but with notable differences between SMEs and large firms. Firms expected lower increases in selling prices,…
The implied tax subsidy rates for large profitable firms vary significantly among countries that grant notable relief, ranging from 1 percent in Denmark to 39 percent in Portugal. France and Poland provide the second and third most generous relief after Portugal, with implied tax subsidy rate of 36 percent. Of the countries that grant notable…