Europe must prepare for a possible oil supply crunch
With falling commercial and emergency oil reserves, Europe’s oil price shock could soon become a volume crisis – a scenario for which it must prepare.
Reciprocal sovereignty: A third constitutional tradition for Europe
The central constitutional question for Europe is how sovereign democracies can govern common goods together without creating a sovereign European state. This column proposes reciprocal
Taking the pulse of global trade policy
How much has trade policy changed globally? This column introduces the Trade Policy Activity Index, a monthly measure of policy changes across 197 economies since
Not all reserves are born equal: Why the source matters for sovereign risk
Emerging market economies hold foreign exchange reserves to insure against currency crises and to cushion exchange rate movements. Reserves are generally associated with lower sovereign
Regulation and growth reloaded: Lessons from 25 years of retail trade and professional services reforms
Retail trade and professional services employ a large share of workers across OECD countries and provide key intermediate inputs to downstream sectors. This column examines
The unequal burden of oil shocks: Labour markets and monetary policy
The war in Iran has sent oil prices sharply higher, reviving the question of who bears the cost of energy shocks and how central banks
When private insurance buys faster access to public care
Supplemental private health insurance is becoming more common in universal healthcare systems as a way to secure faster access to specialists, diagnostics, and elective care.
Pension funds, unlisted firms, and Europe’s Capital Markets Union
Europe’s Capital Markets Union debate is again centred on how to turn savings into productive investment. This column uses Danish ownership and register data to
Increasing employment in pre-retirement years slows cognitive decline
Dementia affects an estimated 6 million Americans. This column uses data from the Health and Retirement Study spanning 1996-2018 to assess the impact of employment
The right balance: how to fix European Union artificial intelligence regulation
EU AI regulation should trade lower ex-ante burden for robust ex-post monitoring, judicial review and liability to curb harms without stifling markets. The European Union’s
