Surveys find heterogeneity among individuals’ expectations. This heterogeneity, when explicitly accounted for, modifies standard models of inflation dynamics. This column proposes a novel way of estimating models of inflation that account for the role of heterogeneous beliefs. Heterogenous expectations play a statistically and economically important part in explaining the dynamics of inflation. They contributed to […]
The third UN Millennium Development Goal seeks to ensure a healthy life “for all”. Using height inequality as an indicator, this column shows that the introduction of public health insurance schemes over the last 150 years substantially reduced health inequality. However, a variety of outcome measures are needed to monitor health inequality in order to […]
Negotiations over phasing out fossil fuels at the COP28 climate summit highlighted how difficult it is for the international community to coordinate climate policies. This column argues that the EU’s Carbon Border Adjustment Mechanism constitutes an important step forward from current anti-leakage policies, but only if it can prevent evasion and impose no unnecessary economic […]
Discussion of ‘geoeconomics’ – countries using their economic strength to achieve geopolitical goals – has increased rapidly following the imposition of Western sanctions on Russia. This column presents a novel framework to understand how a hegemon in the international system exerts its power within its economic network. The authors use the framework to demonstrate how […]
ChatGPT-maker OpenAI is planning to appoint several new board members within the next month, the Washington Post reported on Thursday, citing a person familiar with the matter. Source : Reuters
The vulnerability of supply chains to disruptions is closely related to the dynamics of firm-to-firm trade relationships. This column introduces a new measure of ‘relationship stickiness’ which quantifies these vulnerabilities across 5,000 different product categories. Stickier product markets are more sensitive to the impact of distance on the magnitude of trade and experience a stronger […]
In emerging market and developing economies, primary fiscal deficits, primary government expenditures, and government wage bills have tended to rise significantly around election years – in democracies and non-democracies alike. This column explores political budget cycles in 104 emerging market and developing economies during 1993-2022 and finds that, while primary spending increases tended to be […]
Prices across many advanced economies surged in 2021-22. This column estimates the impact of this inflation shock on euro area households. It shows that higher prices reduced the real incomes and net wealth of most households as there was no immediate increase in nominal wages and pensions, nominal house prices, or the nominal value of […]
University-based research has long been seen as a source of innovation and economic growth, but many discoveries made by university faculty never realise their full commercial potential. This column analyses the process of translating cutting-edge research into commercial activity. Examining cases in which scientists moved from one academic institution to another, the authors find that […]
Early life and education Bukhari was born in Karachi on (day) February 1979. Bukhari’s grandfather, Ameer Shah Bukhari, an Indian Civil Services officer, later became a revenue collector in Hyderabad, Sindh. His father, Shaukat Ali Shah Bukhari, a senior bureaucrat and author, served as the Director General of Excise Police in Sindh, Pakistan. Bukhari completed his early education at the St Paul’s School. In 1999, Bukhari Did his bachelor’s degree in marketing at The University of Manchester. Two years later, he returned to Karachi to continue his education and secured an MBA in marketing from the Institute of Business Management, Karachi. In 2010, he traveled […]
