The supply side of monetary policy: How floating-rate loans blunt the ECB’s fight against inflation
Central banks raise interest rates to reduce aggregate demand and bring inflation down. This column uses credit register data and product-level price data from the
The battle for trade currency dominance: The dollar vs the renminbi in Argentina
The US dollar has traditionally dominated the invoicing of international trade. But could other currencies one day replace it? This column examines a unique policy
Interlocking directorates and competition in banking
The presence of directors on the boards of competing firms (‘interlocking directorates’) raises concerns about collusion. This column studies the Italian corporate loan market and
Dynamism in generative AI markets since the release of ChatGPT
The success of ChatGPT has raised fears that the excessive concentration of generative AI technology within one or two leading US companies could reduce market
Understanding the impact of private equity on employees
The growth of the private equity in recent years has raised concerns about its consequences. This column matches 2.5 million workers who were employed by
Beyond tariffs: Chinese state-owned enterprises in the trade war
While tariffs have been the most visible policy tool during the US-China trade war, anecdotal evidence points to the use of Chinese state-owned enterprises as
Europe must not waste its currency moment
Escalating geopolitical tensions, trade wars, and volatile policy shifts are reshaping the rules of global commerce and finance and bringing the dominance of the US
Inflation targeting: Its current state and key challenges
Inflation targeting has emerged as the dominant monetary policy framework in advanced and emerging market economies. This column discusses three main challenges faced by inflation-targeting
Early job mentoring, placement, and training boost refugee integration without high costs
The number of people fleeing war and persecution worldwide has nearly tripled since the early 2010s, challenging European policymakers to ensure swift integration of asylum
What does it mean to live in a country that is 0.517 poor?
According to the UNDP’s Global Multidimensional Poverty Index (MPI), the Republic of Chad has a poverty score of 0.517. But what does this number mean? Is it
