Ten challenges facing China’s economy
Depending on how it is measured, China’s economy is now the world’s largest or second largest. It is also the world’s second-most intertwined in terms
From banks to nonbanks: Macroprudential and monetary policy effects on corporate lending
The growing footprint of nonbank financial institutions in corporate credit markets raises important – but often overlooked – questions about how monetary and macroprudential policies
Hiroshima: Resilience of city structure after the atomic bombing
Cities have faced a host of shocks throughout history, including earthquakes, hurricanes, coastal flooding, and storm surges, as well as wartime destruction, such as in
Trump tariff policy, uncertainty, and the role of economics
President Trump’s tariff policy is shaking the global economy and generating high levels of trade policy uncertainty. This column challenges the economic reasoning behind recent
One language, one nation: Language policy and economic integration
Language policy is not merely symbolic – it shapes the direction of trade, the allocation of subsidies, and a country’s internal cohesion. Using new data
State aid in times of crisis: Lessons from COVID-19 support for firms in Italy and Spain
The unprecedented wave of state aid to firms across the EU during the COVID-19 pandemic raised questions about who benefited and how effective these interventions
The Great Wall of Chinese goods: The effect of tariff-induced re-rerouting on euro area consumer prices
Tariffs affect both supply and demand, possibly with contrasting effects on prices. This column shows that renewed US-China tensions could redirect Chinese exports to the
Climate adaptation and inequality: Lessons from Cape Town’s drought
A growing number of urban areas around the world face water scarcity. Focusing on the prolonged drought that Cape Town experienced from 2015 to 2018,
Dealing with Trump: Dos and don’ts
Trade negotiations between the US and the EU are entering a crucial stage. This column argues that, faced with a highly uncertain geopolitical situation, the
Ukrainian refugee labour market access shows no impact on local employment outcomes in Czechia
Russia’s 2022 invasion of Ukraine sparked Europe’s largest refugee crisis since WWII. Unlike past waves of migrants, Ukrainian refugees gained immediate labour market access through
