Not your average firm: Heterogeneous cross-border financial allocations
International financial integration is often measured through national totals. Yet these totals can conceal very different experiences across firms. Using comprehensive French microdata, this column
Powerful pacifism and currency dominance: What 150 years of international monetary system regime switches say about the US dollar’s future
The 20th century shift from sterling to the dollar is often cited as evidence that currency dominance is not forever. This column presents a nonlinear
US goods trade deficit unexpectedly widens in September
The US trade deficit in goods unexpectedly widened in September as imports increased, suggesting that trade again subtracted from economic growth in the third quarter.
Fix education to make AI work across Europe and Central Asia
The countries of Europe and Central Asia (ECA) cannot afford to miss the opportunity that artificial intelligence (AI) offers, but they will not seize it
Education and urbanization alone may not end global extreme poverty
Counting the number of people living in extreme poverty — on less than $3 a day — is only part of the picture. We also
Oil shocks no longer hit the US economy as they used to
Recent disruptions to global oil markets, from Russia’s invasion of Ukraine to the war in Iran, have revived fears of stagflation. This column shows that
Private equity beyond the target: How buyouts reshape supply chains
The importance of private equity for euro area firms is increasing, with annual growth rates in assets under management exceeding 10%. Private equity buyouts affect
Washing away the US: Tariff evasion on the other side of the US–China trade war
Debates about tariff evasion have focused on Chinese goods entering the US. This column examines the reverse flow and finds that China’s retaliatory tariffs on
How agreements between suppliers and retailers can weaken competition
Agreements between manufacturers and retailers can affect competition across brands and stores. This column documents retail price patterns in the US consumer battery industry and
Proposing heating efficiency standards for Europe
More than half of the European Union’s natural gas imports are burned to keep buildings warm, with the heating and cooling of buildings using fossil
