The EU, the UK, and the US have sought in recent months to discourage Russia from sending military forces into Ukraine. Diplomatic missions have been complemented by promises of military support and training for the government in Kyiv. Whether these steps persuade the Russian government to stand down their troops down remains to be seen. […]
Women´s contributions to climate action are severely limited by systems that downplay women´s roles, capacity, and potential. Greater access to sustainable and gender-equitable green finance will help women be frontrunners in global efforts to address climate change. Women and girls are particularly affected by climate change, and they can aid and benefit from climate adaptation […]
While there is broad consensus that carbon pricing (i.e. a carbon tax) is an effective instrument for combatting climate change (Gollier 2021, Golosov et al. 2014, Stern 2015, Van der Ploeg 2022), the potential contribution of central banks is still debated (Hansen 2022, Boneva et al. 2021). Central banks around the world have explored various […]
Historically, despite being high in international comparison, European energy prices did not constitute an insurmountable obstacle to industrial expansion because of the exceptional energy efficiency of the local manufacturing sector (Rezessy et al. 2015). However, the recent developments in energy markets have driven an extreme wedge between prices in Europe and some other regions, as […]
We are living through a period of high inflation, driven by rising energy prices. Price hikes have an uneven impact on society, affecting low-income households in a particularly severe manner (Menyhert 2022). This, in turn, calls for mitigation policies that are at least partly targeted towards society’s most vulnerable groups, such as social tariffs or […]
Starting with the 2007-2009 crisis and continuing with the Covid-19 pandemic, financial markets have faced a series of adverse liquidity shocks. As a result, central banks expanded their policy frameworks as enhanced lenders of last resort and market makers of last resort. This column summarises the key features of these expanded policy toolkits and how […]
Western support for Ukraine against the unprovoked aggression by Russia since 24 February 2022 is often presented as a form of solidarity with, or even charity towards, the innocent victims of this brutal and cruel act of Russian imperialism. From that perspective, Ukraine’s continuous requests for financial and military help against the Russian aggressor are […]
Precision medicine has been widely heralded for its potential to transform both the practice of medicine and the economics of healthcare. Also known as personalised medicine, precision medicine targets treatments to patients based on their genetic, biological, or clinical characteristics. Examples include using biomarkers and genetic testing to personalise cancer treatment (Banerjee et al. 2020) […]
The aftermath of the 2007-2009 financial crisis resulted in the widespread adoption of tougher bank regulation, exemplified by the 2010 Accord of the Basel Committee on Banking Supervision, known as Basel III. However, a concern has emerged about the possibility that the effectiveness of the new regulation may be hindered by a shift of intermediation […]
The 1930s are the classic period of deglobalisation and protectionism: a trade policy disaster (Irwin 2011). And yet, detailed quantitative studies of interwar trade policy remain relatively scarce. Early studies, based on very aggregate measures such as average tariffs or trade bloc dummy variables, tended to conclude that the impact of protectionism was surprisingly small (Irwin 1998, […]
