Resolving non-performing loans and zombie firms: A path to sustainable growth in Greece
During the Greek debt crisis, zombie firms and non-performing business loans peaked at 20% and 50%, respectively. This column examines the negative effects of ‘zombie’
The Fisherian debt (de)inflation channel and stock returns
The recent global rise in prices has renewed interest in the distributional effects of the Fisherian debt-inflation channel, and its impact on firms’ activities. This
India pledges strong response after militant attack on Kashmir tourists kills 26
Indian security forces launched a massive hunt on Wednesday for militants suspected of killing 26 men at a tourist destination in Kashmir in the worst attack on
Female representation and talent allocation in entrepreneurship
Women are significantly underrepresented in entrepreneurship in all OECD countries, with implications not only for gender equality but also for aggregate productivity. This column uses
Place prosperity versus people prosperity: Migration and the intergenerational transmission of knowledge
The trajectory of an economy’s development can often be better understood through the historical experiences of its populace. This column investigates the long-term impacts of
Who supplies and demands safe assets – and why it matters
Safe assets are the building blocks of modern financial markets. This column examines the sectoral dynamics of safe assets across advanced economies since the 1980s.
Before banks: Historical lessons for rethinking credit
The global financial crisis of 2008 has led economists, historians, and policymakers alike to re-examine the foundations of our financial infrastructure. This column revisits the
Housing and inequality: A critical link in economic disparities
Global housing markets have come under scrutiny for a number of concerns, including affordability, homelessness, and the contribution of housing to growing inequality. This column
Tracking pay: Lessons from the ‘video’ revolution
In many of the world’s most advanced economies, hyper-globalisation and technological shocks such as AI have made many people’s lives seem less secure. But the
The local effects of artificial intelligence labour investments: Evidence from the municipal bond market
The long-term effects of artificial intelligence are still unknown, as productivity benefits may be compromised by unintended costs. This column assesses the local effects of
