The aim of this paper is to explore how monetary income is both pooled and allocated. This seems a useful task beyond the aforementioned debate to dissipate other puzzling issues like the costs of TARGET2 imbalances. A more detailed dissemination from the relevant authorities as to the process by which profits/losses are pooled and subsequently allocated is however in our view warranted.

The Italian Superbonus-scheme, while having a respectable economic aim, ended up impinging on the same sectors supported by the EU-funded investment plan, resulting in significant capacity constraints and misallocation of resources. Its excessive generosity brought a massive deterioration in public finances, while its returns in terms of economic growth were short of expectations.

Over the past decades, models of circular and cumulative causation, based on the endogenous relations between prices, exports, and labour productivity, have lost prominence in explaining economic dynamics. We argue that, in the absence of counterbalancing mechanisms, the combination of price-sensitive exports and the triggering effect of exports on productivity can enable feedback loops and can significantly shape macroeconomic reality in the short-to-medium run.

Traditional trust-related de-dollarization motives have gained additional impetus from the declining share of the United States in global output, recent upheaval in dollar bond markets, geopolitical tensions, and a "weaponization" of the dollar. Several institutional innovations by China and the BRICS demonstrate the demand for de-dollarization but do not offer credible alternatives to the dollar's value characteristics.

This paper presents a new formulation of conflict inflation labeled the “pass-through” approach, which contrasts with the existing “pressure balance” approach. The model generates Phillips styled inflation - unemployment dynamics that are a hybrid of Keynesian and NAIRU dynamics.

Investigating the interdependence of global and domestic environmental inequalities to explain China’s rise to power The theory of ecologically unequal exchange (EUE) suggests that there exists an asymmetric transfer of biophysical resources from the periphery to the core.