Managing the transition to central bank digital currency
Most studies on central bank digital currencies focus on the effects after they become well established. This column analyses the macroeconomic effects in the transition
Reshaping the housing market: The enduring effects of the pandemic
The pandemic led to a significant shift in preferences toward suburban living in the US and an increase in relative house prices in suburban compared
Carbon reduction and social justice: A challenge for economic policy
Policies to limit carbon emissions create trade-offs between reduction and redistribution for policymakers, especially in countries with high inequality. Addressing the distributional consequences of carbon
The impact of humanitarian sanctions: Evidence from US sanctions on Chinese firms
Economic sanctions are increasingly being used by states to penalise both other states and non-state actors. One way to assess their effectiveness in incentivising a
From buzz to bust: How fake news shapes the business cycle
The threats that misinformation poses to politics and public health are well documented, but the macroeconomic effects of fake news remain largely unexplored. This column
A new dataset on housing affordability
Housing affordability is a crucial yet subtle concept, especially when it comes to cross-country comparison. This column introduces a new cross-country dataset on a mortgage-based
The end of the gold standard and the beginning of the recovery from the Great Depression
2024 marks the 80th anniversary of the Bretton Woods conference, which led to a major shift from the operation of the gold standard in the
The political economy of adapting to climate change
Support for large-scale climate adaptation investments is insufficient in many countries. This column studies the drivers of voter support for public adaptation, focusing on voters
Long-term effects of equal sharing: Evidence from inheritance rules for land
Historically, inherited land in some German areas had to be shared or divided equally among children, while in others land was ruled to be indivisible.
Not a ‘side dish’: New industrial policy and competition
Industrial policy is undergoing a major resurgence. Spurred by multiple overlapping crises, economists have been seeking to draw lessons from the past, while policymakers have
