
How countercyclical capital buffers travel: Internal capital markets and domestic borrowing
Macroprudential capital buffers are designed to make banking systems safer. This column shows that, at the bank–firm level, they

Macroprudential capital buffers are designed to make banking systems safer. This column shows that, at the bank–firm level, they

In recent years, several high-profile episodes have renewed concerns about central bank independence in practice. This column constructs a

Do geopolitical shocks to supply chains make firms retreat from globalisation? Using new survey data from 1,855 manufacturing firms

The dramatic developments unfolding globally, spanning wars, geopolitical shifts, and trade disruptions, have caught Europe off balance. The 2026

Risk associated with broad political changes can be quantified with a globally priced factor common across stocks, bonds and

Achieving sustainable development goals needs blended finance, where public money is used to crowd in larger private capital flows.

When geopolitical crises strike, oil prices often surge, with consequences that extend far beyond energy markets. This column shows

A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely when it is most

It is often claimed that executives reap rewards from favourable market tailwinds they did nothing to create. This column

Privacy regulations empower consumers, but they can also cut off credit for the populations that digital lenders were built

Macroprudential capital buffers are designed to make banking systems safer. This column shows that, at the bank–firm level, they

In recent years, several high-profile episodes have renewed concerns about central bank independence in practice. This column constructs a

Do geopolitical shocks to supply chains make firms retreat from globalisation? Using new survey data from 1,855 manufacturing firms

The dramatic developments unfolding globally, spanning wars, geopolitical shifts, and trade disruptions, have caught Europe off balance. The 2026

Risk associated with broad political changes can be quantified with a globally priced factor common across stocks, bonds and

Achieving sustainable development goals needs blended finance, where public money is used to crowd in larger private capital flows.

When geopolitical crises strike, oil prices often surge, with consequences that extend far beyond energy markets. This column shows

A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely when it is most

It is often claimed that executives reap rewards from favourable market tailwinds they did nothing to create. This column

Privacy regulations empower consumers, but they can also cut off credit for the populations that digital lenders were built




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