Oil shocks no longer hit the US economy as they used to
Recent disruptions to global oil markets, from Russia’s invasion of Ukraine to the war in Iran, have revived fears of stagflation. This column shows that
Private equity beyond the target: How buyouts reshape supply chains
The importance of private equity for euro area firms is increasing, with annual growth rates in assets under management exceeding 10%. Private equity buyouts affect
Washing away the US: Tariff evasion on the other side of the US–China trade war
Debates about tariff evasion have focused on Chinese goods entering the US. This column examines the reverse flow and finds that China’s retaliatory tariffs on
How agreements between suppliers and retailers can weaken competition
Agreements between manufacturers and retailers can affect competition across brands and stores. This column documents retail price patterns in the US consumer battery industry and
Proposing heating efficiency standards for Europe
More than half of the European Union’s natural gas imports are burned to keep buildings warm, with the heating and cooling of buildings using fossil
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
