Dollar dominance and the Trump administration
There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in
Reforming the education of economists in Europe: Breaking the tyranny of the top five
Many European countries have adopted the American model of doctoral training and academic evaluation. While this model suits America’s vast, mobile labour market, in Europe
How much of a threat to US debt sustainability is Trump’s One Big Beautiful Bill Act?
The US should start fiscal adjustment as soon as it can if it wants to head off the risk of exploding debt related to Trump’s
Strategic autonomy for Europe requires economic growth
The current US administration’s willingness to weaponise trade makes clear that transatlantic economic relations have become entirely transactional. This column, taken from a CEPR book
The Chinese economy: stimulus without rebalancing
China’s growth model has continued to rely on expanding industrial capacity and exporting to the world, rather than on domestic consumption. This has lead to
Trumpian tariffs are import substitution industrialization 2.0
The new Trumpian tariffs are not the familiar protectionism G7 nations have applied for decades. Instead of shielding particular sectors, they wall off the entire
The (non) effect of tariffs on manufacturing employment
The two most prominent arguments President Trump has advanced for his trade war – both during the early months of his second term, and for
The Federal Reserve, the new administration, and the outlook for the economy and monetary policy
The new US administration has made the Federal Reserve’s monetary policymaking more complicated both because of the elevated uncertainty regarding administration policies and because of
Senator Warren warns potential BNY merger with Northern Trust may violate federal banking laws
Senator Elizabeth Warren has warned BNY that its reported interest in a merger with Northern Trust could violate federal banking laws, saying any potential deal between
US opens national security probes into imported drones, polysilicon
The U.S. Commerce Department said on Monday it has opened national security investigations into the import of drones and related components as well as polysilicon,
