Rethinking public–private partnerships to bridge the infrastructure gap
The EU faces a significant investment challenge to meet its ambitious goals of decarbonising the economy, modernising infrastructure, strengthening defence, and improving social services. Public–private
The economics of distributed ledgers and the limits of decentralised money
Distributed ledgers are the embodiment of the vision of a decentralised notion of money. The key idea is to harness a network of self-interested ‘validators’
Monetary policy spillovers and the role of the dollar
In the literature on monetary policy spillovers, countries that would otherwise operate independently are connected through bilateral trade relationships, and it is assumed that there
Why America is acting this way on trade: A globotics shock, a failed social policy, and middle-class fury
If Trump’s trade policy is the earthquake, the long-standing hardships confronting America’s middle class are the tectonic plate shifts that made it inevitable. America was
How household saving affects monetary policy spillovers
The international transmission of monetary policy shocks features positive output spillovers when the so-called expenditure-switching effect is sufficiently large. Departing from textbook analysis, this second
Homeowners care about inflation, renters less so
Consumers have vastly different views about inflation – shaped by personal experience, financial literacy, and exposure to economic news. This column examines how consumers’ housing
From partner to rival: The sectoral evolution of China’s trade
Over the past decade, China has shifted towards greater self-reliance while enhancing its export competitiveness in advanced economy markets. This column introduces a new index
Miran, we’re not in Triffin land anymore
Stephen Miran, Chair of the US Council of Economic Advisers, claims that we live in ‘the world of Triffin’, meaning that foreign official accumulation of
Monetary policy spillovers in the global economy
Over and over in the history of the international monetary system, national policymakers have pointed to – and voiced concerns about – the effects of
China-US blossoming petchem ties could be trade war casualty
The often overlooked yet rapidly expanding petrochemical feedstock trade between the United States and China could become one of the biggest casualties in the two
