As global trade expands, so does the number of workers in high-income countries whose jobs are tied to exports. More of that growth is generated by exports to low-and middle-income countries than to other high-income countries. Employment generated by exports of goods and services to low and middle-income countries, either directly or indirectly, more than doubled […]
Advanced economies alone can no longer determine climate outcomes. Emerging and developing economies – home to two-thirds of current emissions and most of the world’s biodiversity – are now the decisive arena. For these countries to transition to low-carbon, nature-positive development paths rapidly and at scale, climate and nature strategies must be embedded in mutually […]
Germany, the Czech Republic and 14 other countries have demanded the European Union introduce stricter price controls to the bloc’s new carbon market, over fears the policy will raise consumers’ bills, a document seen by Reuters showed. The paper, which has support from enough countries to form the “qualified majority” needed to pass EU laws, […]
As global debt continues to climb, evaluating debt risks is critical. This column introduces a novel ‘debt-at-risk’ framework that uses information on current macro-financial and political conditions to construct the full distribution of potential future debt outcomes. The framework shows that debt risks are high, rising, and tilted to the upside. Debt levels are projected […]
The European Union Nature Restoration Law (NRL) entered into force in 2024. The NRL sets quantitative restoration targets aimed at improving natural habitats that are currently in poor condition, with substantial leeway for countries to choose implementation pathways that fit their priorities. This Working Paper examines three pathways: (1) evenly spreading restoration efforts across all […]
Public employment services are rapidly turning to artificial intelligence (AI) to develop a range of sophisticated digital tools. According to a recent survey, half of the public employment agencies in OECD countries have implemented AI solutions such as chatbots that assist with service inquiries, profiling models to assess jobseeker needs, tools that guide job-search strategies, and […]
The major turbulence being experienced by the world economy could lead to a global recession and the collapse of the norms and institutions that have been critical for stability and economic development since the Second World War. In particular, the United States has adopted a level of tariff protection last seen in the 1930s and […]
The immediate effects of climate-related risks are particularly relevant for the financial sector. Climate stress tests, which are often carried out over three to five-year periods, have become crucial for assessing the impact of shifting weather patterns and evolving climate policies on both the economy and the financial system. This column highlights the key findings […]
In higher-income countries, urban proximity has been shown to enhance workers’ skills and income, but less is known about low- and middle-income countries. This column examines how the income of initially poor workers in Brazil changes after urban migration. Wages go up immediately for migrants to both southern and northern Brazilian cities, but only in […]
