Feb 07, 2023

The Inflation Reduction Act (IRA), enacted in summer 2022, is America’s first serious attempt to tackle the climate crisis and reach its own emission-reduction goals. As such, it is overdue and more than welcome. At the same time, it entails a string of protectionist measures that – though aiming mainly at China – might hurt Europe’s green industry.

Feb 02, 2023

Americans to fall off the pandemic savings cliff after the summer break, while Europeans hoard even more.

Jan 31, 2023

Up until 2019, global disinflation pushed down corporate investment; however, since 2020, inflation has failed to lift corporate investment.

Jan 27, 2023

With the cash cushion that was built during the pandemic losing its fluff, it is a good time to revisit consumption behavior, which is starting to lose steam in Europe and the US.

Jan 24, 2023

The large energy-price shock still lies ahead for European corporates. In 2022, increases in corporate utility bills were contained, thanks to government interventions and the long pass-through from wholesale energy prices to retail contracts, which are for the most part not fully indexed.

Jan 20, 2023

Despite a sharp decline in food and energy prices in the Eurozone in December, which led headline inflation decreasing to 9.2% y/y (down from 10.1% during the previous month), inflation will remain uncomfortably high, averaging about 6% this year with core remaining rather sticky until next year.