The bullwhip effect

The rise in final demand has sent shock waves through production lines. Should we fear a lasting return of inflation? Pandemic-related confinement and forced savings – brought about in part [...]

Magic Money

The COVID crisis whets the most extreme appetites in favor of money creation. But remember that there is “no such thing as a free lunch”… From “helicopter money” to debt [...]

It ain’t over yet…

An interview by Swiss journalist  Yves Hulmann for allnews.ch, on May 12, 2020 For Valérie Plagnol, the action of central banks underpins the rebound in the markets. The lack of visibility [...]