Vice-President de Guindos confirms inflation stabilising across Europe. ECB balances inflation control with economic resilience. Global events and monetary policy shifts discussed in podcast
Pareto efficiency occurs when no change can make one better off without hurting others. Named after Vilfredo Pareto, it's a major pillar of welfare economics. Pure Pareto efficiency exists only in theory, but economies can move toward it
Factor market is the input market for resources needed for production. Market consists of labor, capital, and land markets. Households are sellers in factor market, businesses are buyers
European single market comprises 27 EU member states and 4 EFTA states. Guarantees free movement of goods, capital, services, and people. Aims to increase competition and economic integration
External debt includes total public and private debt owed to nonresidents. Public debt covers government loans from central to local levels. Private debt includes household and corporate loans. Non-sovereign entities are included for information purposes. A country can be a net international creditor if its debt is less than others'
Central banks exchange liquidity with banks through various transactions. Used as monetary policy tool to influence short-term interest rates. Less prominent since 2008 crisis due to floor system implementation