The Grexit debate ten years on: What we have learned
This week ten years ago, Greece was on the brink of exiting the euro. The integrity of the currency union was again in jeopardy after
The market implications of industrial subsidies
Governments are increasingly employing industrial subsidies, raising questions about their market implications. This column undertakes a thorough econometric testing of the causal impacts of subsidies
Investment funds and euro disaster risk
Investment funds are important players in global financial markets. This column examines their behaviour and interaction with other investors during stress periods on European sovereign
How the SS Great Britain overcame the tyranny of distance
The transition from sail to steam power for cargo and passenger shipping to Australia lagged behind the North Atlantic by nearly two decades. This column
Rethinking social protection sustainability: What people want (and don’t want)
Population ageing makes it harder for governments to finance programmes like public pensions and long-term care. But policy responses, such as tightening programme eligibility and
Geopolitical fragmentation and friendshoring
As geopolitical uncertainty rises – due to events ranging from Brexit and the increasing rivalry between major economies to Russia’s invasion of Ukraine – firms
The importance of information for tax design: Evidence from the French wealth tax
Many countries are considering introducing or reforming their wealth tax policies. This column studies the effects of a French wealth tax reform, which reduced reporting
US dollar stablecoin mercantilism is an opportunity to promote payment multilateralism and the international role of the euro
The EU and the US have taken starkly different approaches to the regulation of new monies issued using distributed ledger technology. The current US administration
Climate change, firms, and aggregate productivity
Policy debates around climate change frequently focus on the trade-off between the near-term costs of reducing carbon emissions and the long-term benefits of mitigating climate
Too much of a good thing: The role of the global US dollar
A confluence of negative forces – some the result of self-inflicted wounds and rising uncertainty about US policies and others relating to global developments and
