We all grew accustomed to measuring the stance through the Taylor rules. But when a central bank intervenes on the long end of the curve, the stimulus that is injected through those interventions escapes the simple Taylor metric, which is centred on the short end where the lower bound binds.
Not only do I personally consider the Postgraduate Program in International Tax Law of the Vienna University of Economics and Business Administration as one of the centrepieces of post gradual education, but due to its uniqueness and international orientation, it became a worldwide renowned and exclusive program offering ample opportunities to its graduates. My sincere congratulations to you, the graduates!