Multinational enterprises have long been scrutinised for their ability to shift profits across borders, using tax havens to minimise tax liabilities. Yet, there is little discussion of the ways in which tax havens shape domestic market structures. This column explores the employment responses to multinationals’ use of tax havens. While reduced taxes can increase employment […]
After a period of rapid growth, recent trends in world trade reveal a phase of stagnation. Rising geopolitical tensions have been accompanied by trade restrictions in the name of national and economic security. This column argues that analysis of economic security measures should consider multiple dimensions, including the effect on global supply chains, efficiency, costs, […]
Evaluating sovereign emissions closely resembles the nature versus nurture debate; we must consider both the inherent structural factors of countries such as demography, geography, and climate and the discretionary policies countries adopt to protect the environment and promote sustainability. This column introduces a new global sovereign emissions model, which shows that more than 50% of […]
Driven largely by refugees from Ukraine, the EU saw immigration of non-EU citizens surge in 2022. This column discusses the macroeconomic implications of this immigration surge and suggests a positive effect on potential output in the range of 0.2-0.7% by 2030 for recipient countries. On the flipside, the large inflow had initial fiscal costs and […]
The Covid-19 pandemic and ongoing geopolitical tensions have revealed the fragility of global supply chains. This column studies the link between supply chain disruptions and the increase in firm market power. It shows that following a supply chain shortage, larger firms gained a competitive advantage due to their diversified supplier networks and greater bargaining power. […]
The mental health of PhD students has become a growing concern, with reports highlighting high rates of depression, anxiety, and suicidal ideation. However, much of this research relies on small surveys. This column uses large-scale administrative data from Sweden to provide a more comprehensive analysis of the mental health risks of doctoral education, and finds […]
Globally, government debt has increased substantially since the onset of the Covid-19 pandemic and geopolitical tensions. This columns asks who the investors that hold government debt are, and whether the ownership composition matters. Overall, as debt increases, non-bank investors, in particular investment funds, take up more of this debt than other investor groups. Emerging market […]
While digital connectivity can greatly enhance healthcare delivery, especially in regions lacking traditional medical facilities, the overall impact of this increased access to information remains a topic of ongoing evaluation and debate. This column examines the effect of internet access on COVID-19 spread in Indonesia, a developing country characterised by considerable variations in both mobile […]
The banking turmoil in March 2023 was the most significant system-wide banking stress event since the global crisis. This second column in a two-part series discusses policy options to adjust bank regulatory and supervisory frameworks, considering pros and cons. Some options (such as narrow banking or full deposit insurance) appear impractical or too costly, while […]
Trade in services has been relatively neglected in trade policy debates. This column argues that this is partly due to the fact that ‘mode 3’ services, the biggest mode of supply for services trade whereby companies establish a physical presence abroad to deliver services to foreign customers, are systematically missing from official trade statistics. A […]
