Designing fiscal consolidation to achieve fiscal sustainability and the sustainable development goals
Many governments have to mitigate concerns about fiscal sustainability, without triggering near-term output losses or reversing progress on containing poverty or inequality. This column assesses
The geography of science
Scientific activity has historically been concentrated in a small number of advanced economies, but the global landscape of research is undergoing rapid transformation. Using data
Powering the digital economy: The global expansion of data centres and its energy implications
The global data centre market has expanded massively over the past 15 years, with the US firmly in the lead in terms of both number
War and the lost generation of inventors
Large wars destroy not only lives and infrastructure but also the human capital that fuels long-term economic progress. This column presents new evidence from Britain
It may be time for Sweden to join the euro
Sweden chose to stay outside the monetary union in 1999 and rejected the euro in a 2003 referendum. This column summarises a recent report which
Industrial policies, global imbalances, and technological hegemony
Industrial policies are a key feature of many countries running persistent trade surpluses. This column develops a framework to examine how industrial policies shape global
How interest rates affect spending: Household debt and the role of asset prices
Central banks adjust interest rates to affect consumption and manage aggregate demand. This column uses 6.8 million natural experiments created by differences in the timing
The rise and fall of EU labour shortages: Recent developments and some forward-looking considerations
Labour shortages across the EU are back down to pre-pandemic levels and declining, but this easing of the labour market has not translated into higher
Preparing for a New G20 Alignment
The G20 is approaching a turning point. The shift toward coalition-based governance, the need to manage systemic interdependence, and the move beyond market-centric frameworks all
Remote work can blunt the fertility decline
Fertility has fallen to very low levels in many advanced economies, and many pro-natalist policies appear to deliver modest gains at high cost. Using survey
