Marriage has declined as the central organising structure of the American family, and some worry this will increase inequality. This column posits that inequality creates the marriage gap in the first place because access to assets, such as homeownership, may be essential to foster the commitment necessary for both partners to benefit from marriage. Marriage […]
In the context of the renewal of the European Commission, a new set of priorities aimed at improving the integration of EU capital markets is currently under discussion. Examining the benefits of stock diversification within the EU over the last decade, this column shows that investors in several European countries could have improved their performance […]
Ferrari’s first electric car will cost at least 500,000 euros ($535,000), a source familiar with the matter told Reuters, as the luxury automaker prepares to open a plant that will make the model – and could boost group production by up to a third. The Italian brand, famed for its roaring petrol engines, has said […]
Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia the world’s most valuable company, while the dollar stalled as soft U.S. retail sales data suggested rates could fall this year. MSCI’s All-World index was up 0.2% at 805.13, having traded at an all-time high of 805.43. […]
Monetary policy measures have an effect on public sector debt management, not only quantitative easing/tightening but also the pattern of interest rate changes. As public sector debt ratios rise, the sensitivity of debt management issues to monetary policy decisions will increase. This column explores some of the likely consequences of this by comparing the pattern […]
Many economic models are constructed on the basis of an equity-efficiency trade-off, assuming that equality comes at the cost of efficiency. This column argues that inequality is better understood as an economic externality. It matters not only because people care about inequality itself, but because they prefer to live in societies that function smoothly, and […]
Many developing countries are currently facing debt distress, and sovereign debt restructurings often occur with delays. Emerging market debt composition has shifted away from Paris Club creditors and toward private lenders. This column argues that the asymmetry in coordination between private creditors and emerging market debtors has equity and efficiency implications. Private creditors are often […]
Artifical intelligence and automation have implications for tax policy. This column discusses how the economic impact of new technologies is relevant to the taxation of labour and capital. The policy recommendations that emerge depend on several factors: the impact of AI on economic efficiency, the share of capital income in national income, the distribution of […]
The persistent under-representation of women in economics remains a pressing policy concern for researchers and institutions. This column studies the evolution of gender gaps in representation and research output among cohorts of scholars over the past nine decades. The findings reveal remarkable improvements in female representation across cohorts but a stable negative publication gap over […]
Over the last several decades, many countries have devolved power to local governments. This column exploits the government decentralisation in Indonesia that took place after the sudden fall of President Suharto in 1998 and uses establishment-level data to examine the implications of decentralisation for the private sector. While decentralisation can potentially bring many benefits, the […]
