Artificial intelligence in the office and the factory: Evidence from administrative software registry data
The rapid adoption of AI in the workplace has raised concerns about job loss. This column uses data covering all AI-related commercial software registered with
Prudential instruments and the recent inflationary episode
Since the Global Crisis, prudential instruments to address financial stability concerns have been enhanced and broadly adopted across countries. Using the recently updated International Banking
Easy money, easy spending: A new take on the resource curse
When wealth or income suddenly increases (‘easy money’), this may be directed towards unproductive ‘easy spending’. This column explores the relationship between conspicuous consumption and
Loose monetary policy, dollar depreciation, and debt sustainability: Do not forget Venice
History suggests that using lax monetary policy and a weaker currency to address debt sustainability is a dangerous game. This column revisits a unique early
Strategic autonomy for Europe requires economic growth
The current US administration’s willingness to weaponise trade makes clear that transatlantic economic relations have become entirely transactional. This column, taken from a CEPR book
Unpacking US tech valuations: An agnostic assessment
The recent performance of the largest US tech companies has raised concerns about the risk of a stock market bubble. Using a three-stage pricing model
Europe’s trade surplus, international relative prices, and the productivity growth gap
The euro area faces persistently weak productivity growth alongside a sustained trade surplus and a trendless real exchange rate. This column shows that persistent productivity
Economic development, carbon emissions and climate policies
If economic activity is considered the primary driver of climate change through emissions of carbon dioxide, then supporting economic growth and fighting emissions would appear
How dirty air hurts economies in Europe and Central Asia and what can be done
Worldwide, air pollution is an “equal opportunity offender” impacting high-, middle-, and low-income countries. While low- and lower-middle-income countries bear the brunt of air pollution, middle-
Reimagining development in fragile and conflict-affected settings
Fragility is no longer the exception. It is the new development realityFragility, conflict, and violence (FCV) are not abstract to us. They are lived realities.
