Banking on nonbanks
Nonbank financial institutions play a central role in global credit markets, raising concerns about regulatory arbitrage, financial stability, and the effectiveness of macroprudential policy. While
How sanctions can help stabilise global oil supply
There were initial concerns that the introduction of the Russian oil price cap in 2022 would see Russia cut production, global oil supply fall, and
From tariffs to trade flows: Diversion effects and China’s exports to the EU
High US tariffs on imports from China in the first half of 2025 led to concerns about a large-scale redirection of Chinese exports to the
The EU’s path to service growth and clean tech
The US is taking actions to reshore manufacturing while largely abandoning decarbonisation. This column argues that, in response, the EU should capitalise on the potential
How X’s algorithm shifts political attitudes
Algorithms curate what users of social media see, raising concerns that they may distort attitudes and affect social and political outcomes. This column reports on
Fast payments and digital ID: Making everyday payments safer, simpler, and more efficient
Imagine this situation – María runs a small grocery shop, and one afternoon she receives a message asking her to pay a supplier urgently through
Geopolitics in the evaluation of international scientific collaboration
International collaboration is one of modern science’s quiet superpowers. Increasingly, it is also a geopolitical flashpoint. This column presents new experimental evidence that shows both
A tale of two financial centres: Brexit uncertainty and the fragility of cross-border capital flows
The UK vote to leave the EU in 2016 led to an immediate rise in economic policy uncertainty. This column examines how Brexit-related policy uncertainty
Mapping 20 years of change in the global liner shipping network
Connections to global markets and supplies are a precondition for trade driven development, investments, and jobs. Here, we analyze how the global shipping network has
Mortgage borrower actions dampen the impact of higher rates on monthly payments
The surge in inflation following the COVID-19 pandemic prompted many central banks to raise interest rates sharply. This column combines data from a large German
