How to cut the UK debt interest bill
UK bond yields are currently higher than the G7 average, leading to historically high debt interest payments. Importantly, the level of breakeven inflation embedded in
Why global temperature matters
Climate change is frequently described as an existential threat, posing significant risks to our lives, livelihoods and the global economy. This view, however, stands in
The return to overseas visits by political leaders: Evidence from Japanese yen loan procurement auctions
Japan identifies ‘top-level sales’ through overseas visits by political leaders as an important policy tool to help Japanese firms win more infrastructure contracts. However, overseas
Implications of decarbonisation for fuel excise tax revenues and pricing of road transport externalities
Fuel excise duties are a substantial source of tax revenue for many countries as well as a tool for pricing the climate and non-climate externalities
The role of workforce ageing in closing the gender pay gap
The narrowing of the gender pay gap slowed around the turn of the 21st century. Meanwhile, younger workers have fared progressively worse than older workers.
Trapped! China and the ‘middle-income trap’
A recent sustained growth deceleration in China raises the question of whether the country has fallen into a ‘middle-income trap’. This column argues that China
Equating inequality: Public perceptions of income and wealth distributions
Do people distinguish between income and wealth, how they are distributed, and how they should be taxed? This column reports results of a survey-experiment in
Asset pricing anomalies before modern theory
Asset pricing anomalies documented in the post-WWII period are commonly used to design investment strategies. This column uses historical data over 1900-1925 from nine equity
Customer data access and fintech entry: Early evidence from open banking
Open banking enables customers to share their transaction data with other financial service providers – including incumbent banks or new fintechs – fostering competition, spurring
Child benefits in an international comparative context
In 2021, the US temporarily expanded the Child Tax Credit, a programme intended to support the income of families with children. This column shows that
