Concerns about growing inequality and a shrinking middle class are deeply ingrained in European public perceptions. This column provides a more nuanced picture of Europe over the last 15 years. Income inequality for the EU as a whole has declined due to a strong process of income convergence between countries. At the same time, the […]
The recent rise in interest rates worldwide has reignited the debate over its implications for emerging market economies. This column uses data for the euro area to examine whether interest rate increases in advanced economies trigger capital outflows from emerging market debt securities. The authors find no consistent evidence of spillovers to capital flows through […]
Climate-related risks, both those related to the warming of the planet and those related to our actions to mitigate it, are a factor in asset pricing. This column argues that the nature of these risks is quite different from that of other shocks commonly considered in asset pricing models. Specifically, these shocks come from distributions […]
All of the measures regularly monitored at the ECB of underlying inflation, which captures the ‘signal’ on medium-term inflationary pressures, have come down since the post-pandemic inflation surge in the euro area. Yet, some proxies have been more sluggish than others and the range remains wide, reflecting how the shocks of recent years have affected […]
European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing. The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it […]
Oil prices were little changed on Friday, but remained on track for strong weekly gains, as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against an amply supplied global market. Brent crude futures ticked down 8 cents, or 0.1%, to $77.54 a barrel as of 0415 GMT. U.S. West Texas […]
The dollar hovered near a six-week high on Friday ahead of a payrolls report that could decide the path of U.S. interest rates, while the yen headed for its weakest weekly performance since 2016, hit by uncertainty over Japan’s monetary policy. The dollar was also boosted by safe-haven demand as investors weighed widening Middle East tensions and […]
Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day. U.S. President Joe Biden said on Thursday that the U.S. is discussing strikes on Iran’s oil facilities […]
In spite of a commendable decline in stunting rates over the past 30 years, 148 million children worldwide remain stunted. The condition impairs their growth, health, development, and education and has long-term consequences for their future wellbeing. In addition, one in seven children globally were born with low birthweight in 2020 and 45 million suffered […]
It’s 7 AM, and the rumbling of a garbage truck jolts you awake. The beeping as it backs up, the mechanical whirr as it hoists and tips a dumpster, and the clatter of glass and metal tumbling into the truck are all part of the morning’s symphony. But waste collection is more than just noise and […]
