When trade sanctions increase the target’s trade
Data show that trade sanctions reduce commerce between the countries imposing them and their targets. But this bilateral success can conceal a wider failure if
Competition or collusion: Entry decisions in the Swedish pharmaceutical market
Many countries have adopted different price regulations to contain pharmaceutical prices, even in markets exposed to generic competition. This column documents subtle pricing patterns in
Digitalisation and credit markets: Evidence from eInvoicing
Governments around the world are increasingly mandating the digitalisation of business records, yet little is known about the effects of these policies beyond tax compliance.
Why Europe needs Eurobonds
The 2024 reform of the EU fiscal framework makes fiscal adjustment more country-specific and less procyclical. However, it does not eliminate two fundamental tail risks:
Why more information can make macroeconomic expectations less accurate: Global evidence from 47 countries
Households do not simply choose how much macroeconomic information to acquire; they choose among sources that differ in representativeness and credibility. Using a survey of
Small and stuck: Why European firms can’t scale
In 2008, the US stock market was worth $3 trillion more than the combined European stock market; in 2023, the gap was $34 trillion. This
How early academic rank shapes high school choices and admissions
Students with the same test score can have considerably different academic ranks depending on their school peers. Using data from the Mexico City metropolitan area,
A nascent international financial channel of China’s monetary policy transmission
China is the world’s second-largest economy, and its monetary policy can affect global demand and trade. Using granular mutual fund data, this column finds that
Samsung Electroncis to announce more than $72bln shareholder return programme, media reports
Samsung will spend 50% of its free cash flow on the new programme Samsung Electronics is set to announce a new shareholder return policy later
AI’s gains are large and rising, but unevenly shared
How large is the labour cost saved by AI, and how is it distributed across occupations? Using five waves of the Anthropic Economic Index from
