Tomasz Mickiewicz
@tomekmickiewicz.bsky.social
Professor of economics @ Aston University (Birmingham, UK), editor of Entrepreneurship Theory and Practice, fellow of Regional Studies Association.
Once a member of Movement for Defence of Human and Civil Rights, opposing Soviet regime in Poland.
Once a member of Movement for Defence of Human and Civil Rights, opposing Soviet regime in Poland.
Reposted by Tomasz Mickiewicz
Trump’s affordability problem: in charts on.ft.com/3M0RL7A
Trump’s affordability problem: in charts
Americans are unhappy with the cost of living, with inflation higher than the month before the president retook office
on.ft.com
November 26, 2025 at 5:03 PM
Trump’s affordability problem: in charts on.ft.com/3M0RL7A
Reposted by Tomasz Mickiewicz
How Greece’s recovery can be an inspiration for Europe on.ft.com/4oc5e9T | opinion
How Greece’s recovery can be an inspiration for Europe
The Eurozone’s former problem child is now borrowing more cheaply than much of the continent
on.ft.com
November 26, 2025 at 9:15 AM
How Greece’s recovery can be an inspiration for Europe on.ft.com/4oc5e9T | opinion
Reposted by Tomasz Mickiewicz
There is no good reason for Trump to be involved in Ukraine negotiations.
Europe pays everything; Trump pays nothing.
Epstein emails and new leaks also prove Trump is compromised and under Russian blackmail, while Witkoff clearly backs Moscow over the US and Ukraine.
Trump out!
Europe pays everything; Trump pays nothing.
Epstein emails and new leaks also prove Trump is compromised and under Russian blackmail, while Witkoff clearly backs Moscow over the US and Ukraine.
Trump out!
November 26, 2025 at 9:26 AM
There is no good reason for Trump to be involved in Ukraine negotiations.
Europe pays everything; Trump pays nothing.
Epstein emails and new leaks also prove Trump is compromised and under Russian blackmail, while Witkoff clearly backs Moscow over the US and Ukraine.
Trump out!
Europe pays everything; Trump pays nothing.
Epstein emails and new leaks also prove Trump is compromised and under Russian blackmail, while Witkoff clearly backs Moscow over the US and Ukraine.
Trump out!
Reposted by Tomasz Mickiewicz
Russia’s economy is not doing well
November 24, 2025 at 2:40 PM
Russia’s economy is not doing well
Reposted by Tomasz Mickiewicz
By the way, mass deportation causes rising prices in the United States.
This is because it removes a crucial ingredient of production in key sectors like food and construction, without reducing demand much.
Sane demand chasing reduced supply —> higher prices. @piie.com analysis here:
This is because it removes a crucial ingredient of production in key sectors like food and construction, without reducing demand much.
Sane demand chasing reduced supply —> higher prices. @piie.com analysis here:
Trump’s deportation plans would cause lower US employment and GDP than otherwise
Former president Donald Trump has promised to carry out the "largest deportation program in American history," a step targeting unauthorized immigrants and endorsed in the Republican Party's 2024 plat...
www.piie.com
November 21, 2025 at 3:35 AM
By the way, mass deportation causes rising prices in the United States.
This is because it removes a crucial ingredient of production in key sectors like food and construction, without reducing demand much.
Sane demand chasing reduced supply —> higher prices. @piie.com analysis here:
This is because it removes a crucial ingredient of production in key sectors like food and construction, without reducing demand much.
Sane demand chasing reduced supply —> higher prices. @piie.com analysis here:
Reposted by Tomasz Mickiewicz
Volume of China's crude oil imports from Russia down more than 10% from its peak. In October the discount on Russia's oil was ~5%, after a few months when the discount was 2-3%. Threat of secondary sanctions having some effect?
November 24, 2025 at 2:31 PM
Volume of China's crude oil imports from Russia down more than 10% from its peak. In October the discount on Russia's oil was ~5%, after a few months when the discount was 2-3%. Threat of secondary sanctions having some effect?
Reposted by Tomasz Mickiewicz
This nice piece on our new
@bofit.suomenpankki.fi
DP also has some addional examples of goods whose prices have risen A LOT for Russian customers because of sanctions.
@chriscook.news
🇷🇺🇨🇳
on.ft.com/4p1N63Y Chinese exporters charge Russia more for war supplies as sanctions bite
@bofit.suomenpankki.fi
DP also has some addional examples of goods whose prices have risen A LOT for Russian customers because of sanctions.
@chriscook.news
🇷🇺🇨🇳
on.ft.com/4p1N63Y Chinese exporters charge Russia more for war supplies as sanctions bite
Chinese exporters charge Russia more for war supplies as sanctions bite
Price increases show that western restrictions are limiting Moscow’s capabilities, Bank of Finland research finds
on.ft.com
November 24, 2025 at 1:17 PM
This nice piece on our new
@bofit.suomenpankki.fi
DP also has some addional examples of goods whose prices have risen A LOT for Russian customers because of sanctions.
@chriscook.news
🇷🇺🇨🇳
on.ft.com/4p1N63Y Chinese exporters charge Russia more for war supplies as sanctions bite
@bofit.suomenpankki.fi
DP also has some addional examples of goods whose prices have risen A LOT for Russian customers because of sanctions.
@chriscook.news
🇷🇺🇨🇳
on.ft.com/4p1N63Y Chinese exporters charge Russia more for war supplies as sanctions bite
Reposted by Tomasz Mickiewicz
the impact of the March 2025 25% tariff on steel and aluminium:
o Foreign companies absorbed a quarter to a third of the tariff burden through reduced export prices
o Three-quarters of the tariff is passed through onto consumers of steel and aluminuim
o Foreign companies absorbed a quarter to a third of the tariff burden through reduced export prices
o Three-quarters of the tariff is passed through onto consumers of steel and aluminuim
November 24, 2025 at 12:54 PM
the impact of the March 2025 25% tariff on steel and aluminium:
o Foreign companies absorbed a quarter to a third of the tariff burden through reduced export prices
o Three-quarters of the tariff is passed through onto consumers of steel and aluminuim
o Foreign companies absorbed a quarter to a third of the tariff burden through reduced export prices
o Three-quarters of the tariff is passed through onto consumers of steel and aluminuim
Reposted by Tomasz Mickiewicz
Russia's flagship Urals crude is being offered to India's refiners at the cheapest price in at least 2yrs, Bloomberg reported
The discount reached $7per barrel compared to Dated Brent,with the offer applying to oil loaded in December&delivered in January,according to people familiar with the matter
The discount reached $7per barrel compared to Dated Brent,with the offer applying to oil loaded in December&delivered in January,according to people familiar with the matter
November 24, 2025 at 11:46 AM
Russia's flagship Urals crude is being offered to India's refiners at the cheapest price in at least 2yrs, Bloomberg reported
The discount reached $7per barrel compared to Dated Brent,with the offer applying to oil loaded in December&delivered in January,according to people familiar with the matter
The discount reached $7per barrel compared to Dated Brent,with the offer applying to oil loaded in December&delivered in January,according to people familiar with the matter
Reposted by Tomasz Mickiewicz
We wrote a paper on Russia sanctions and Russia's import prices. Because of sanctions Russia must pay MUCH more for the sanctioned goods it buys.
@bofit.suomenpankki.fi
A thread:
@bofit.suomenpankki.fi
A thread:
Heli Simola and I wrote about the effect of sanctions on unit prices of Russia’s imports. I.e., how much does Russia have to pay more for goods EU & co have sanctioned, when it imports them from China, Türkiye and other countries?
@bofit.suomenpankki.fi DP 8/2025
🇷🇺🇨🇳🇹🇷
1/
www.bofit.fi/en/
@bofit.suomenpankki.fi DP 8/2025
🇷🇺🇨🇳🇹🇷
1/
www.bofit.fi/en/
November 24, 2025 at 9:17 AM
We wrote a paper on Russia sanctions and Russia's import prices. Because of sanctions Russia must pay MUCH more for the sanctioned goods it buys.
@bofit.suomenpankki.fi
A thread:
@bofit.suomenpankki.fi
A thread:
Reposted by Tomasz Mickiewicz
November 23, 2025 at 2:52 PM
Trump's new 'peace proposal' is all about extracting as much money as possible on.ft.com/4o9OtvW
Donald Trump wields dealmaking diplomacy to shape US foreign policy
President’s latest peacemaking effort in Ukraine involves another quest for a payout
on.ft.com
November 22, 2025 at 11:09 AM
Trump's new 'peace proposal' is all about extracting as much money as possible on.ft.com/4o9OtvW
Reposted by Tomasz Mickiewicz
Italy's exports to well-known transshipment hubs like Kyrgyzstan (lhs) and Armenia (rhs) are going through the roof. This is happening more than 3 years after the invasion of Ukraine. You can do this kind of thing, but it makes the EU ineffective as a geopolitical actor. You can't have it both ways.
November 16, 2025 at 1:26 PM
Italy's exports to well-known transshipment hubs like Kyrgyzstan (lhs) and Armenia (rhs) are going through the roof. This is happening more than 3 years after the invasion of Ukraine. You can do this kind of thing, but it makes the EU ineffective as a geopolitical actor. You can't have it both ways.
Reposted by Tomasz Mickiewicz
NYT: “.. The Trump Organization is in talks that could bring a Trump-branded property to one of Saudi Arabia’s largest government-owned real estate developments .. the latest example of Mr. Trump blending governance and family business ..”
@nytimes.com
www.nytimes.com/2025/11/15/w...
@nytimes.com
www.nytimes.com/2025/11/15/w...
November 15, 2025 at 4:39 PM
NYT: “.. The Trump Organization is in talks that could bring a Trump-branded property to one of Saudi Arabia’s largest government-owned real estate developments .. the latest example of Mr. Trump blending governance and family business ..”
@nytimes.com
www.nytimes.com/2025/11/15/w...
@nytimes.com
www.nytimes.com/2025/11/15/w...
Prof. Rodriguez-Pose asks to which extent size of cities matters, at Regional Studies Associaton conference. Bigger needs not to be better, and density may destroy social capital (and more lessons)
November 13, 2025 at 10:35 AM
Prof. Rodriguez-Pose asks to which extent size of cities matters, at Regional Studies Associaton conference. Bigger needs not to be better, and density may destroy social capital (and more lessons)
German industry once the economic powerhouse of Europe is now being hit from multiple directions. The latest assault comes from US bend to hit its closest allies on.ft.com/4p5sjvP
Can anything halt the decline of German industry?
Europe’s manufacturing champion is in free fall. Economists are suggesting radical steps to save what is left
on.ft.com
November 12, 2025 at 9:34 PM
German industry once the economic powerhouse of Europe is now being hit from multiple directions. The latest assault comes from US bend to hit its closest allies on.ft.com/4p5sjvP
The Economic Impact of Brexit on GDP seems to be - 6% to - 8% till 2025. Impact on investment is even larger. share.google/30UFNyXkw2M5...
The Economic Impact of Brexit
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
share.google
November 11, 2025 at 10:44 PM
The Economic Impact of Brexit on GDP seems to be - 6% to - 8% till 2025. Impact on investment is even larger. share.google/30UFNyXkw2M5...
"Campaigns aimed at anti-elite candidates can unintentionally mobilize support for them" www.nber.org/papers/w3443...
Political Information and Network Effects
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
www.nber.org
November 4, 2025 at 4:43 PM
"Campaigns aimed at anti-elite candidates can unintentionally mobilize support for them" www.nber.org/papers/w3443...
There is a point for a country, when self-inflicted decline in soft power translates into decline in hard power. The latter depends on how many close allies a country has.
US passport lost significantly in terms of its value measured by visa free entry worldwide.
www.economist.com/graphic-deta...
US passport lost significantly in terms of its value measured by visa free entry worldwide.
www.economist.com/graphic-deta...
The world’s most—and least—powerful passports
Americans’ travel documents aren’t as muscular as they used to be
www.economist.com
November 3, 2025 at 4:04 PM
There is a point for a country, when self-inflicted decline in soft power translates into decline in hard power. The latter depends on how many close allies a country has.
US passport lost significantly in terms of its value measured by visa free entry worldwide.
www.economist.com/graphic-deta...
US passport lost significantly in terms of its value measured by visa free entry worldwide.
www.economist.com/graphic-deta...
Reposted by Tomasz Mickiewicz
Germany plans €377B in defense procurements as Kremlin bot network spreads fake story about Chancellor Merz’s wife buying Rheinmetall shares
A new disinfo campaign flagged by @antibot4navalny.bsky.social is spreading videos posing as @bellingcat.com, The Telegraph, and German tabloid Bild.
A new disinfo campaign flagged by @antibot4navalny.bsky.social is spreading videos posing as @bellingcat.com, The Telegraph, and German tabloid Bild.
Germany plans €377B in defense procurements as Kremlin bot network spreads fake story about Chancellor Merz’s wife buying Rheinmetall shares
Germany has drawn up plans to procure land, air, naval, space, and cyber weapons worth €377 billion, according to an internal government document reviewed by Politico. The outlays are set to be includ...
theins.press
October 30, 2025 at 7:22 PM
Germany plans €377B in defense procurements as Kremlin bot network spreads fake story about Chancellor Merz’s wife buying Rheinmetall shares
A new disinfo campaign flagged by @antibot4navalny.bsky.social is spreading videos posing as @bellingcat.com, The Telegraph, and German tabloid Bild.
A new disinfo campaign flagged by @antibot4navalny.bsky.social is spreading videos posing as @bellingcat.com, The Telegraph, and German tabloid Bild.
"Mr Putin’s initial war boom has now given way to stagflation, with growth at almost zero, labour shortages, hidden bad debts, inflation of 8% and interest rates of 16.5%. Another half-decade of this would probably trigger an economic and banking crisis in Russia." www.economist.com/leaders/2025...
Why funding Ukraine is a giant opportunity for Europe
The bill will be huge. It is also a historic bargain
www.economist.com
October 31, 2025 at 9:59 AM
"Mr Putin’s initial war boom has now given way to stagflation, with growth at almost zero, labour shortages, hidden bad debts, inflation of 8% and interest rates of 16.5%. Another half-decade of this would probably trigger an economic and banking crisis in Russia." www.economist.com/leaders/2025...
Reposted by Tomasz Mickiewicz
Russia: Lukoil is now down 20% and Rosneft 13% over the rolling 5 day period.
October 28, 2025 at 4:53 AM
Russia: Lukoil is now down 20% and Rosneft 13% over the rolling 5 day period.
"Without the Musk partisan effect, Tesla sales between October 2022 and April 2025 would have been 67-83% higher, equivalent to 1-1.26 million more vehicles. Musk’s partisan activities also increased the sales of other automakers' electric and hybrid vehicles 17-22%" www.nber.org/papers/w3441...
The Musk Partisan Effect on Tesla Sales
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
www.nber.org
October 27, 2025 at 1:40 PM
"Without the Musk partisan effect, Tesla sales between October 2022 and April 2025 would have been 67-83% higher, equivalent to 1-1.26 million more vehicles. Musk’s partisan activities also increased the sales of other automakers' electric and hybrid vehicles 17-22%" www.nber.org/papers/w3441...
Reposted by Tomasz Mickiewicz
US goods prices are reaccelerating amidst the trade war—goods inflation is at the highest level in more than two years, with prices for all goods rising 1.9% over the last year & prices for durables rising 1.8%
October 24, 2025 at 12:41 PM
US goods prices are reaccelerating amidst the trade war—goods inflation is at the highest level in more than two years, with prices for all goods rising 1.9% over the last year & prices for durables rising 1.8%
Reposted by Tomasz Mickiewicz
The last time America hit 12% credit card delinquency rate, the country was deep in the middle of a major financial crisis that threatened to unravel the entire banking system
October 21, 2025 at 9:55 AM
The last time America hit 12% credit card delinquency rate, the country was deep in the middle of a major financial crisis that threatened to unravel the entire banking system