Powerful pacifism and currency dominance: What 150 years of international monetary system regime switches say about the US dollar’s future
The 20th century shift from sterling to the dollar is often cited as evidence that currency dominance is not forever. This column presents a nonlinear
Education and urbanization alone may not end global extreme poverty
Counting the number of people living in extreme poverty — on less than $3 a day — is only part of the picture. We also
Oil shocks no longer hit the US economy as they used to
Recent disruptions to global oil markets, from Russia’s invasion of Ukraine to the war in Iran, have revived fears of stagflation. This column shows that
Private equity beyond the target: How buyouts reshape supply chains
The importance of private equity for euro area firms is increasing, with annual growth rates in assets under management exceeding 10%. Private equity buyouts affect
Never let a good crisis go to waste: Term limits and banking reforms
Financial crises routinely trigger sweeping overhauls of financial regulation, but whose interests do these reforms serve? Using data on financial policies in 88 democracies between
Fiscal consolidation: Temporary costs versus lasting scars
Public debt is at or near record highs across the OECD, increasing the pressure on governments to restore fiscal sustainability over time. This column draws
Cultural norms matter for macroeconomic development
Interest in the role of cultural norms, institutions, and development has resurfaced in recent years especially post the 2024 Nobel Prize in Economics. This column
Venture capital – a global perspective
Existing views on what venture capital finances and how its markets are structured are primarily shaped by the experience of the US and a few
Hiding in the mean: AI is adding jobs and removing them at the same time
Estimates of AI’s employment effect disagree in size and even in sign. This column argues the disagreement is built into the measurement: AI substitutes for
Fed’s Williams sees no urgency for next Fed rate hike
Fed’s Williams says there’s time to parse data before raising rates again Federal Reserve Bank of New York President John Williams said on Tuesday that
