From learning to earning: an AI career coach for students choosing what comes next
“Before I met Gallito, I had no real idea what I wanted to do.” The student who said it attends a public school in Lima, months
How Amazonian rangers are building better jobs on the frontline of conservation
Every year on July 31, World Ranger Day offers us a moment to celebrate the people standing on the frontlines of nature. This year’s theme,
The origins of the multinational premium: Managerial talent, firm risk, and corporate taxation
Multinational firms tend to earn higher stock returns than purely domestic firms, raising questions about what drives their differential exposure to aggregate risk. This column
How shifts in geoeconomic power are rewiring global trade
Trade growth stalled after the Global Financial Crisis, and world trade is now splitting along geopolitical lines. This poses a distinctive challenge for the EU,
When the news you watch shapes the inflation you expect
Central banks lean on communication to anchor inflation expectations. But most households learn about the economy from the news rather than from policy statements, and
Carbon risk in loan pricing: Commitment channels and real effects
Transition risks related to climate change are increasingly recognised in equity and bond markets. This column uses syndicated loan tranches issued to US firms to
Baby busts and GDP booms: Demographic change and the macroeconomy
Globally declining birth rates have, over the last seven decades, slowed population growth and raised average ages. This column argues that despite widespread economic pessimism,
Digital banks, social media, and the competition for deposits
The rapid digitalisation of banking and the widespread use of social media are transforming competition for retail deposits. Using US branch-level data, this column shows
Rethinking the use of quantitative easing for macro stimulus
Quantitative easing has faced recent criticism for causing large central bank losses and contributing to the post-COVID inflation, raising the question of under what conditions
The AI premium
Artificial intelligence is already reshaping the economy and society. This column analyses how AI affects firms, markets, and workers using 380 trillion tokens of realised
