With or without a lasting ceasefire, the Middle East war is fuelling severe uncertainties, entailing a pick-up in inflation, in tandem with a slowdown of economic activity. Over the short term, the impact on inflation stems directly from higher fuel prices. Yet long-term effects are much more difficult to project, since they hinge both on the

History has shown that inflation is the most perfidious economic threat to the well-being of nations, with far-reaching redistributive effects in the social and economic structure, by altering the rationality of economic calculation and via increased inequalities and unfulfilled expectations. Those who have accumulated savings,

The rating agencies have recently confirmed that Romania managed to avoid a downgrading of the sovereign rating to “junk” thanks to the newly adopted fiscal and budgetary measures. Such a rating would have had a severe negative impact on the country’s development prospects, while Romania needs, besides healthier public finances,

This year’s laureates of the Nobel Prize for Economics are Daron Acemoglu, Simon Johnson and James Robinson, three authors renowned for their studies on institutions and the impact of institutional factors on economic prosperity. Their most representative work is Why Nations Fail: The Origins of Power, Prosperity, and Poverty (2012), which

Receiving the vote of confidence and being appointed as Vice Governor of the National Bank of Romania is an honour, and it thus opens a new chapter of commitment and responsibility, both professionally and institutionally. My professional journey, spanning over 25 years in the academic and scientific fields, and focused on key areas of