The EU’s new fiscal rules: First gaps between hopes and outcomes
The 2024 reform of the EU’s Stability and Growth Pact introduced medium-term expenditure paths as the centrepiece of a new, country-specific surveillance framework. This column
Forward-looking labour supply: Lessons from Poland’s pension reform
A central motivation behind pension reforms over the past three decades has been to strengthen the link between social security contributions during working life and
On the decentralisation of money, contracts, and finance using blockchain
Blockchain was launched amid the global financial crisis with the goal of decentralising money and payments, to avoid the problems associated with their delegation to
Measuring national technological trajectories using 200 years of international patent data
Innovation underpins sustained long-run economic growth, yet measuring technological success is challenging. This column compiles two centuries of patent data and leverages filings in multiple
Causal evidence on cost-of-living shocks: How the energy crisis affected energy demand, labour supply, and financial strain
In a cost-of-living shock, households must cope with lower purchasing power while also substituting away from goods whose prices have risen. The distributional consequences of
Ageing like China: China’s pension reform debate enters a new phase
China is undergoing a sharp demographic transition: rapid population ageing, a shrinking labour force, persistently low fertility, and continued urbanisation. Using an overlapping-generations framework, this
Carbon pricing and inequality: Understanding the distributional costs of climate policy
Carbon pricing is widely regarded as an effective tool to reduce greenhouse gas emissions, yet it often faces strong public resistance. This column combines macroeconomic
From the outside in: How international manager rotations narrow the gender pay gap and change cultural norms
Most policy debates on gender inequality focus on formal rules such as pay transparency, quotas, anti-discrimination enforcement, or hiring targets. This column uses personnel records
From earth to heaven: The changing drivers of monetary policy
Business cycles in advanced economies are increasingly driven by global rather than domestic shocks. This column shows that global shocks now account for about half
The impact of Brexit on foreign-born workers in the UK
How did Brexit impact the UK labour market? This column uses synthetic differences-in-differences to estimate how Brexit changed the trajectory of foreign-born employment. The authors
