How large current account imbalances unwind: Evidence from historical adjustment episodes
Global imbalances are back in the policy debate. This column examines 70 current account adjustment episodes across 51 economies from 1980 to 2024 to discover
Trapped at home: Climate stress is more likely to immobilise the poor than to move them
Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral flows for 127 developing-country origins, this column finds the reverse:
Innovation without borders
Europe has devoted substantial resources to fostering innovation and AI diffusion, through both centralised EU initiatives and national programmes. This column combines an experiment on
Trapped at home: Climate stress is more likely to immobilise the poor than to move them
Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral flows for 127 developing-country origins, this column finds the reverse:
Dollar liquidity, gold reserves, and US monetary spillovers in a fragmenting world
Central banks are rethinking reserve portfolios as geopolitical fragmentation raises concerns about the accessibility of foreign-held assets, while dollar-funding stress keeps the US dollar at
High-speed internet and early childhood development: Causal evidence from a countrywide programme
The rapid expansion of high-speed internet has intensified concerns about how digital technologies affect early childhood. Using the staggered rollout of fibre optic to the
Competing for inputs: how the European Union can improve critical raw materials supply security
EU critical raw materials projects fall short of self-sufficiency targets, making trade deals and targeted investment central to supply security. Critical raw materials (CRMs) are
The EU emissions trading system works but most industrial decarbonisation is still to come
Survey evidence shows regulated manufacturers respond to the EU carbon price, but want reassurance on policy direction and stringency. By putting a price on carbon
Calls for EU financial-rule simplification should not spill over into lower standards
EU banking rules are under pressure for simplification, but reforms should cut complexity without weakening financial safeguards. Strong financial regulation provides benefits that often outweigh
SpaceX and AI startup wealth fuels demand for private jets
Aviation lawyer Amanda Applegate skipped her annual vacation last month as a surge of wealth from AI startups and SpaceX sent a wave of tech investors
