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 […]
Tesla shareholders have indeed shown their support for Elon Musk’s proposed $56 billion pay package and the relocation of the company’s legal home to Texas. Musk himself expressed gratitude for this backing on his social media platform X. The approval of this record-breaking compensation plan could help allay concerns about Musk’s future role at Tesla, […]
Achieving global net zero emissions requires rapid deployment of low-carbon technologies. Using online job postings from 35 countries, this column measures the diffusion of low-carbon technology-related skills from 2014 to 2022 and investigates the role of the 2022 global energy crisis in driving labour demand. The data show a significant rise in job postings in […]
A recent report from the International Panel on Climate Change reveals a consistent rise in extreme heat days, affecting agriculture and beyond. Economic repercussions include reduced labour productivity and increased operational costs. Recent studies also emphasise climate’s financial sector impact, especially in low- and middle-income economies. This column delves into Mexican financial vulnerabilities, revealing the […]
A slowdown in technological progress has been cited as the driving force behind the stagnating productivity growth witnessed in advanced economies. This column examines data on the sources of economic growth in the US and Japan and shows that productivity in ICT-producing sectors is of disproportionate importance to aggregate productivity growth, and also that innovations […]
Current smartphone calls are monophonic which compresses audio elements together and sound flatter and less detailed, but the new technology will bring 3D audio where a caller will hear everything as if they were there with the other person Nokia CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and […]
Commercial banks also posted 3.7% rise in assets to QR 1.96 trillion, says Central Bank Qatar’s banking sector posted an increase in lending activity in April 2024, according to new official data. Total domestic credit during the month reached QR 1.25 trillion ($343.4 billion), up by 4.7% compared to April 2023, the Qatar Central Bank […]
The Credit Suisse crisis illustrates how poor governance can lead a large bank into a crisis despite compliance with capital requirements. Recent research on supervisory board competence in banks has provided interesting new insights. This column updates an index of supervisory board competence for a sample of German banks and compares their performance in 2023 […]
In the ongoing debate on pandemic management, the role of age composition in shaping optimal policies has received little attention. This column develops an economic framework that specifically addresses the heterogeneity in age responses to pandemic risks, encompassing both individual voluntary behavioural changes and policy interventions, to show that targeted interventions based on demographic and […]
Farmers in Europe have recently protested against increased grain exports from Ukraine. This column shows how Russian grain is more of a threat to EU farmers than grain from Ukraine. Between January 2023 to March 2024, Russia exported more grain than any EU country or Ukraine, and European countries imported a substantial share of their […]
