The growing impact of political risk on financial markets
Risk associated with broad political changes can be quantified with a globally priced factor common across stocks, bonds and currencies. Political risk is increasingly driving
When public money multiplies, and when it does not: A guide to the catalytic effect of blended finance
Achieving sustainable development goals needs blended finance, where public money is used to crowd in larger private capital flows. The catalytic multiplier is a central
Geopolitical oil price shocks: Why these shocks hit harderGeopolitical oil price shocks: Why these shocks hit harder
When geopolitical crises strike, oil prices often surge, with consequences that extend far beyond energy markets. This column shows that oil price shocks associated with
Why liquidity evaporates when it is most needed
A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely when it is most needed. This column argues that this
Using global shocks as a laboratory to study executive pay
It is often claimed that executives reap rewards from favourable market tailwinds they did nothing to create. This column uses two decades of Danish data
When privacy protects but excludes: The hidden costs of data restrictions in digital lending
Privacy regulations empower consumers, but they can also cut off credit for the populations that digital lenders were built to serve. Using application-level data on
Challenging inequalities: How we got stuck and where we go next
In many advanced economies, including the UK, progress towards a fairer society appears to have stalled. Deep structural forces – including weak earnings growth, rising
Gold slips on inflation concerns as high oil prices and stronger dollar weigh
Brent crude oil climbs back above $100 a barrel. Gold prices fell on Thursday, pressured by a stronger dollar and elevated oil prices that stoked
Iran war impact seeps ever deeper into global economy
The global economy is facing ever more tangible strains from the energy shock. The global economy is facing ever more tangible strains from the energy
Dollar holds firm as angst over Iran-US stand-off drives safe-haven demand
Oil prices move above $100 as Iran-U.S. tensions escalate. The dollar was headed for its first weekly rise in a month on Thursday, as a
