Finance Publications

October 27, 2026

Has the ECB Learned from the Pandemic?

The European Central Bank says it has learned lessons from the pandemic. In this paper, Leonardas Marcinkevičius of the Lithuanian Free Market Institute tests that claim against euro area data on interest rates, the ECB balance sheet and money supply from 1999 to 2025.
June 18, 2020

Inflation: The Next Threat?

The policy reaction to the Covid-19 pandemic will increase budget deficits massively in all the world’s leading countries. The deficits will to a significant extent be monetised, with heavy state borrowing from both national central banks and commercial banks.
May 28, 2019

Not Everyone’s Cup of Tea

MiFID II, together with MiFIR (Regulation (EU) No 600/2014), was intended to create a more transparent, competitive and integrated financial market in the EU by reducing trading outside regulated markets, increasing protection for investors and consumers, and improving financial stability.