Austerity and climate (in)action
In the wake of the 2008 global financial crisis, many governments implemented austerity policies aimed at reducing budget deficits through public spending cuts. This column
Globalisation and profitability of US firms
The significant reduction in trade barriers along with rising US firm markups in the early 2000s may seem puzzling at first. To explain these trends,
Should AI stay or should AI go: The promises and perils of AI for productivity and growth
There is considerable disagreement about the growth potential of artificial intelligence. Though emerging micro-level evidence shows substantial improvements in firm productivity and worker performance, the
How and why work-from-home rates differ across countries and people
The COVID-19 pandemic significantly accelerated the shift to work from home around the world, but with significant cross-country variations. This column explores how factors such
The geography of EU discontent and the regional development trap
Political discontent has been on the rise across Europe. This column draws on the concept of regional ‘development traps’ to examine the complex relationship between
Changing central bank pressures and inflation
Despite the large surge in inflation across advanced economies since 2021, long-term expectations are mostly in line with central bank targets. However, this column argues
The promises and pitfalls of a green supply chain
Global supply chains are central to economic policy debates. This column examines recent attempts to regulate climate sustainability within supply chains. By analysing the corporate
Transformation of activities and risks between bank and non-bank financial intermediaries
Non-bank financial intermediaries have surpassed banks as the largest global financial intermediaries, yet they remain lightly regulated. This column argues that the intermediation activities and
Open science as a means for development aid: Fostering scientific research and innovation
Access to existing work and technical information is key to the emergence of new scientific knowledge and innovation. But access to academic publications is particularly
Unlocking efficiency: Optimal monetary policy when capital misallocation matters
The design of monetary policy has traditionally considered aggregate total factor productivity as an exogenous variable over which the central bank has no control. This
