Banks’ responses to trade uncertainty
The past few years have seen a significant rise in economic uncertainty. However, how financial intermediaries shape the effects of uncertainty on the economy has
The heterogeneous impact of inflation on households’ balance sheets
Surprise inflation impacts households’ balance sheets through several channels. This column presents the three key channels – wealth, income, and consumption – and quantifies them
Road traffic flow and air pollution concentrations: Evidence from Japan
Major cities around the world have introduced various policies to reduce or manage road traffic flows, but the extent of their pollution-reducing effects remains unclear.
Taxing the wealthy: The choice between wealth and capital income taxation
Taxing the wealthy effectively and equitably presents a choice between wealth and capital income taxes, each with its own trade-offs. This column compares the effectiveness
Forging a sustainable future together: The report of the High-Level Group on the Future of Cohesion Policy
Cohesion Policy is the main instrument of the EU’s commitment to shared prosperity. A new report from the High-Level Group on the Future of Cohesion
Global supply chain pressures, inflation, and implications for monetary policy
The Covid-19 pandemic led to a significant increase in global supply chain pressures. This column studies the impact of these supply disruptions on euro area
Apple’s exclusionary app store scheme: An existential moment for the Digital Markets Act
Article 6(4) of the Digital Markets Act (DMA), which comes into full force in the European Union on 7 March, requires Apple to permit third-party
Vulnerabilities of the labour market: A new survey-based measure of labour hoarding in the EU
Throughout 2022 and 2023, the EU labour market showed a high degree of resilience in the face of weak growth, which is partly explained by
Financial crises and tax havens
Much of the current research on offshore financial centres has focused on the roles of tax havens in advanced economies, and less is known about
Oil edges up after OPEC+ extends output cuts through second quarter
Oil prices ticked up slightly on Monday following the widely expected extension of voluntary output cuts by the OPEC+ producer group on Sunday. Brent futures
