Social mobility and inequality: New evidence from Imperial China
Social mobility in pre-industrial times has been argued to be much lower than often estimated and that it hardly changes over time. This column uses
China’s military rise: Comparative military spending in China and the US
Estimates of China’s military spending relative to the US vary widely from around one quarter of US spending to near parity. This column argues that
High moments for superstar exporters
Aggregate exports are highly concentrated in a small group of firms, which are generally more productive than other firms. This column shows that productivity shocks
Misperceptions and demand for democracy under authoritarianism
Authoritarian regimes often maintain power via cultivating misperceptions about the quality of state institutions and the value of democracy. This leads citizens to underestimate the
Climate change putting Philippines at double risk of typhoons, scientists say
Climate change is making the Philippines more vulnerable to tropical storms, with rising temperatures already putting the country at nearly double the risk of deadly typhoons,
HSBC reviews retail banking outside UK and Hong Kong, FT reports
HSBC is reviewing its retail banking operations outside the UK and Hong Kong, which could see it substantially scale back operations in other countries, including Mexico,
Dutch economic growth to pick up unless trade war hits, central bank says
Economic growth in the Netherlands will pick up in the coming years unless U.S. import tariffs and European retaliation unleash a trade war, the Dutch
Big banks expect a quarter-point cut for ECB’s first meeting of 2025
Major brokerages including Bank of America, Goldman Sachs and Citigroup expect the European Central bank to cut interest rates by 25 basis points again at
Bank of America, Goldman to donate undecided amounts to Trump’s inaugural committee
Bank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump’s inaugural committees, but have yet to
UniCredit CEO says $10.5 billion Banco BPM bid is fair as offer becomes binding
UniCredit on Friday filed its buyout offer for rival Banco BPM BAMI.MI with Italy’s market regulator, and CEO Andrea Orcel said the price was adequate. The filing makes
