The question of whether immigrants from countries with low levels of political trust bring those attitudes with them to their host societies has long been debated. This column leverages survey data from 38 countries, and exploits variation across countries, cohorts, and survey rounds, to show that immigrants exposed to institutional corruption during early adulthood (ages […]
Facebook owner Meta Platforms has named a former senior U.S. Justice Department official from Donald Trump’s first presidential administration to manage its worldwide litigation strategy. Ethan Davis, who was most recently a partner at law firm King & Spalding based in San Francisco, will serve as head of global litigation strategy for Meta, according to Meta […]
The U.S. Treasury announced on Friday sweeping new sanctions against the Russian energy sector, including oil majors Gazprom Neft and Surgutneftegaz, to try to curtail Moscow’s ability to fund its war with Ukraine. The sanctions also target over 180 tankers and dozens of oil traders, oilfield service providers, insurance companies and energy officials. Below are reactions from major […]
President-elect Donald Trump has promised to maximize U.S. oil and natural gas production – already at record highs – in part by clearing away what he deems as unnecessary regulation and bureaucracy. Here are some of the energy-related executive orders Trump could announce during his first days in office, as he seeks to follow through on that […]
Dangerously high winds were expected to resume on Monday in Los Angeles, potentially hampering efforts to extinguish two stubborn wildfires that have leveled whole neighborhoods and claimed the lives of at least two dozen people. Dry Santa Ana winds of up to 50 to 70 miles per hour (80 to 112 kph) were forecast to resume on Monday and […]
Artificial intelligence has diffused rapidly in recent years, but its impact on aggregate productivity is not clear. This column uses data from original surveys to estimate the impact of AI on macroeconomic productivity in Japan. Using data on the use of AI in the workplace and its impact on work efficiency, it estimates a 0.5-0.6% […]
The short-term implications of the new Trump administration for the US and the EU economies are potentially wide ranging. This column argues, however, that the ramifications in the medium to long term promise to be even more pervasive. From a domestic perspective, we may witness a gradual shift of the US corporate system to crony […]
Long-term trends in wealth inequality have been the object of considerable recent attention and their analysis allows for a better understanding of the causes (and consequences) of inequality today. This column provides an overview of top wealth shares in Western countries from ca. 1300. In the last seven centuries, wealth concentration increased continuously, with two […]
A key barrier to economic development is that while new technologies can offer substantial productivity gains, firms in poorer countries often do not adopt them. This column uses firm-level data to track the adoption of the key technology of the 19th century – the steam engine – during Sweden’s rapid industrial take-off. Much like in […]
The transition towards climate neutrality is creating both winners and losers. Renewable energy development often faces opposition from local communities concerned about potential environmental impacts without significant economic benefits. Using Italy as a case study, this column investigates whether such opposition translates into political costs at the polls. It finds that local governments authorising wind […]
