Making AI work: From promise to practice
AI is here. Over 3 billion people globally use generative AI (genAI) like ChatGPT or Baidu’s Erni Bot monthly. AI helped researchers discover new proteins (and get
When two AI systems become one: unifying data and knowledge in global trade
Navigating global trade data is often a dual challenge for policymakers and researchers: finding the right numbers is hard, but understanding exactly what those numbers
Size versus allocation in capital market development: evidence from pension funds and insurance companies
EU capital markets stay small as savings sit in deposits, making insurers and pension funds pivotal if portfolios shift into productive assets. The European Union’s
New coins on the block: Digital currencies and the financial system
The crypto system is no longer a sideshow. Dollar stablecoins now put dollar claims into circulation well beyond the regulated US banking perimeter, and cryptoisation
What we lose when women do not get tenure: Evidence from a natural experiment
Women remain underrepresented in the upper ranks of academia, but evidence on the mechanisms behind this has been scarce. This column exploits a change in
Cheaper machines, costlier buildings: The drag on long-run growth
The steady decline in the relative price of equipment has long been seen as a primary engine of long-run growth. This column documents a quieter,
Europe suffers not so much from a ‘flight’ of savings as from insufficient allocation to equities
Europe exports a large surplus of savings outside the continent each year. This column argues that this should not be interpreted as a capital ‘flight’:
From European public goods to a European safe asset: A pragmatic roadmap
The search for a European safe asset has generated no shortage of proposals, but these proposals require, from the outset, a degree of mutual trust
The global minimum tax: More winners than losers – even without the US
A landmark shift in the international corporate tax system is taking shape. The introduction of a 15% global minimum tax aims to reduce profit shifting
The transatlantic divide in labour’s share of income
Across advanced economies, workers have been receiving a smaller share of national incomes. This column compares the evolution of labour’s share of income in Europe
