Avoiding Kindleberger’s trap: A dollar coalition of the willing
In the event of dysfunction in dollar funding markets, the Federal Reserve can supply liquidity through standing central bank swaps. This column considers a scenario
Why monetary policy should crack down harder during high inflation
The recent surge in inflation has led to a significant increase in the frequency of price changes. This column argues that price flexibility has an
Short-term labour mobility drives innovation in Africa
A growing body of research highlights the importance of mobility in the global knowledge economy, but has largely focused on high-income countries. This column addresses
The unequal costs of carbon pricing in European regions
Carbon pricing has become a central tool in Europe’s strategy to mitigate climate change. This column presents new evidence on the impact of carbon pricing
How an oil price crash sparked clean innovation: Insights from Norway
The transition to clean energy will require a significant reallocation of technological investments away from fossil energy sources towards cleaner alternatives. This column investigates whether
Effects of monetary policy on labour income: The role of the employer
How do monetary policy shocks affect workers’ wages and employment? This column looks at the role that firms play in determining the wage and employment
The high price of the fight against inflation: The case of the euro area
The fight against inflation has largely been won in the euro area, after a sharp but short-lived inflation episode over 2021-2023. This column argues that
Weathering the storm: The role of adaptation in mitigating the economic impact of floods
Floods are the costliest type of natural disaster in Europe, but little is known about whether adaptation investments such as flood defences can shield the
Stock market uncertainty makes many Americans wary of spending on travel
Kimberly Hilliard, co-founder of a five-year-old travel agency in Maryland, says at this time of year she usually fields up to 10 inquiries a week
Dollar steadies ahead of a string of macro litmus tests
It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an
