Banking on inattention: When deposits hedge or amplify interest rate risk
Deposits are US banks’ primary funding source, but they can also add to interest rate risk. This column presents new micro evidence that depositor inattention
Urban slums: Stepping-stone for some and traps (or shields) for others
Rapid urbanisation has been accompanied by the expansion of urban slums, raising concerns about whether cities foster opportunity or entrench poverty. This column shows that
Why detours improve development outcomes
In Homer’s Odyssey, Odysseus does not reach home by following a flawless plan. His journey is defined by detours, storms, and course corrections. What matters is
Who is Raising Our Children? Screens, Baby Shark, and the Impact on Early Childhood
Sixteen billion. That’s how many times the popular children’s song Baby Shark has been viewed on YouTube. That’s more than twice the world’s population—and here’s what’s truly
How traffic demand management can improve access, equity, and jobs in transit-oriented cities
Cities around the world are grappling with how to expand access to jobs and services while reducing congestion, lowering emissions, and building transport systems that
Six ways to make tourism projects work for people, places, and prosperity
Tourism generates 10 percent of global GDP and supports 1 in 10 jobs worldwide. Because of this, it’s a key sector of interest for the
Elevating the knowledge agenda for women entrepreneurs to boost jobs, growth, and access to finance
Women entrepreneurs represent a powerful yet largely untapped source of job creation and economic growth. Removing barriers faced by women entrepreneurs would significantly boost economic growth,
A silver lining to the European energy crisis: Energy efficiency, productivity, and potential output
The 2022 natural gas price shock triggered the largest rise in fossil fuel prices in Europe since the 1970s. This column examines the impact on
When war weakens democracy
Wars do not end when the fighting stops. This column uses data covering 115 conflicts and 145 countries over the past 75 years to show
Trade risk and optimal trade policy: Lessons from food security
Geopolitical shocks and trade disruptions have made imports less reliable, especially for essential goods like food. This column outlines a framework where trade costs are
