Industrial policy and retaliatory protection under the WTO: Lessons from China
Industrial policy is increasingly implemented worldwide, with many policymakers and researchers highlighting its benefits. However, the cost of industrial policy remains less understood. Using Chinese
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
From words to deeds: Incorporating climate risks into sovereign credit ratings
Climate-related risks are increasingly recognised as an important threat to long-term fiscal sustainability. This column studies the extent to which credit rating agencies integrate these
Why some countries win in world trade: Unpacking export competitiveness
Global export competitiveness is rapidly evolving. This column presents a novel granular decomposition of export market share changes into demand and supply effects. Applied to
Italy and the cost of unintelligible laws: 110 billion euros a year
Over the past 30 years, laws in Italy have become longer, more convoluted, and frequently unintelligible even to seasoned legal professionals. This column exploits variation
Britain’s AI hopes face harsh reality of high electricity costs
Britain’s ambition to rev up its economy and tap the AI revolution faces the harsh reality that the abundant, clean and reliable electricity supply this
Charitable giving in wartime: Evidence from Ukraine’s war fundraising
In the context of financing Ukraine’s wartime economy, Western governments have paid little attention to how Ukrainians are funding the war themselves. This column analyses
Dollar forges higher as Trump releases new tariff barrage
Yen sinks, Bank of Japan signals no hurry to resume rate hikes. The dollar headed for its strongest weekly performance in almost three years against
Oil steadies as investors mull US tariff impacts
Investors weigh impact from Trump threats over Russian oil. Oil prices were little changed on Friday and heading for a weekly gain as investors weighed
Wheat near five-year trough, corn at contract lows as supply weighs
The most-active wheat contract on the Chicago Board of Trade was down 0.2% at $5.15-1/2 a bushel. Chicago wheat futures eased on Tuesday to approach
