Why AI goes rogue and what can be done about it
There are technical, political and behavioural responses to rogue AI, but risks cannot be fully eradicated Artificial intelligence companies are increasingly reporting incidents in which
Changes in the health and longevity of the elderly in the US
Spending on public pensions through Social Security and on elderly healthcare through Medicare accounted for over one-third of federal expenditures in the US by 2024.
Historic monetary tightening, benign output dynamics: Rising R-stars across the Atlantic
Nominal interest rates increased significantly in the US and euro area following the post-pandemic inflation surge, yet economic activity and labour markets remained resilient. This
Crypto capture of foreign aid
Official development assistance fell by 23% in 2025, the largest drop on record. Aid disbursements have tended to coincide with deposits in offshore banks. This
Mind the gap: Bringing EU debt into the Stability and Growth Pact
EU debt has become a noticeable feature of Europe’s fiscal architecture. However, EU fiscal rules focus solely on national public finances. They have a blind
Lower capital requirements are no shortcut to European competitiveness
The European banking sector is known for high regulatory complexity, market fragmentation, and uneven implementation of international standards. However, this column argues that across-the-board reductions
Investment screening reshapes rather than shrinks foreign investment
Driven by national security concerns, a growing number of countries screen foreign investment in an expanding range of sectors, yet evidence on the economic effects
Taming original sin redux: The role of benchmark-driven flows
Emerging market capital flows remain highly sensitive to global shocks. This column analyses foreign investors in emerging market local-currency sovereign bonds depending on whether they
What happens to innovation after Big Tech buys a startup
Concerns abound that ‘killer acquisitions’ by tech giants could deter startup entry and stifle innovation. This column analyses patent data before and after 1,200 acquisitions
Forward guidance and the limits of public information
When nominal interest rates hit the effective lower bound, central banks turned to unconventional measures, with forward guidance emerging as a cornerstone of monetary policy.
