Macrofinance meets AI: Evaluating alignment between LLMs and economists
Many public institutions are now experimenting with AI tools to support surveillance, supervision, and policy analysis, raising questions about which analytical tasks can be delegated
The bank collateral channel of monetary policy: Evidence from securities losses
Sharp increases in interest rates can reduce the market value of banks’ securities holdings and threaten financial stability. Using euro area data for 2022-2023, this
Foreign exporters absorbed nearly half of the 2025 US tariff shock
When the US imposed sweeping tariff increases in 2025, most economic forecasters predicted a sharp rise in consumer prices and significant import disruption. Instead, retail
Europe’s regulatory double bind
The European Union’s AI Act – the world’s most ambitious regulatory framework for artificial intelligence to date – was supposed to enter into full effect
How data and evidence can make anticorruption reforms more inclusive
In Latin America and the Caribbean (LAC), one in five people report experiencing or knowing of sextortion — the exchange of sex, rather than money,
Commodity wealth demands a fiscal balancing act
Commodity booms are easy to celebrate but hard to manage. For resource-rich economies, commodity windfalls—if managed well—can finance investment, strengthen public finances and lift growth
Quantifying the China discourse
Policy narratives in the US on China have undergone a dramatic transformation in recent years. This column draws on various kinds of public records and
The exorbitant privilege of the periodic table
Trade in critical metals essential for electrification has become centred on China over the last three decades. This column introduces a new framework in which
An autopsy of the voluntary carbon market
The voluntary carbon market was built on a single promise: that one credit cancels one tonne. Most scrutiny has asked whether that promise holds on
Macroprudential policy may curb innovation – but instrument choice matters
Macroprudential policy is designed to make the financial system safer, but it can also reshape the finance available to innovative firms. Using patent data matched
