In memoriam: Richard Easterlin 1926-2024
Richard Easterlin, who passed away in December 2024, was a visionary economist whose pioneering research transformed how we think about economic growth, happiness and human
Saudi crude oil supply to China set to fall in Feb vs Jan, sources say
Saudi Arabia’s crude oil supply to China is set to decline in February from the month before, trade sources said on Thursday, after the kingdom
Morgan Stanley promotes 173 employees to managing directors, source says
Wall Street giant Morgan Stanley promoted 173 of its employees to managing director roles this year, marking a 12% increase from 2024, a source close to
Brazil’s Lula calls Meta fact-checking changes ‘extremely serious’
Brazilian President Luiz Inacio Lula da Silva said on Thursday that social media company Meta’sS decision to scrap its fact-checking program in the U.S. was “extremely
Los Angeles wildfire economic loss estimates top $50 bln
U.S. private forecaster AccuWeather said on Wednesday that estimated damage and economic loss from the California wildfire, already one of the worst in history, is
Musk acknowledges $2 trillion spending cut goal a long shot
Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from
How the Bank of England could have avoided mis-forecasting UK inflation during 2021–24
The Bernanke Review was triggered by the Bank of England mis-forecasting UK inflation as it rose rapidly from 2021, peaking at 11% in 2022. Unpredictable
Macroeconomic effects of the gender revolution
Postwar US labour market data reveal a significant secular decline in the employment and wage gaps between men and women. This column quantifies the implications
Social mobility and digital divides in emerging economies: Evidence from the 4th wave of the Life in Transition Survey
The Life in Transition Survey collects data on household income, employment, education, attitudes, beliefs, and personal experiences across 37 economies in emerging Europe, the Caucasus,
How the spending of the rich drives the income of the poor, and why this matters for the business cycle
During recessions, spending on non-essentials contracts significantly more than spending on essentials, driven by affluent households. This has a particularly large effect on low-income/hand-to-mouth workers,
