The boom before the bust: From the Roaring Twenties to the Great Depression
The investment boom in artificial intelligence technologies has raised concerns about a potential bubble. This column argues that the 1920s boom and the Great Depression
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
Here, there, and everywhere: Remote work and the employment of disabled and older workers in the UK
Disabled and older adults have lower employment rates than other workers. Policymakers increasingly point to remote work as a way to keep these groups attached
The cost of job loss in carbon-intensive sectors: Evidence from Germany
In a green transition, workers will have to move from polluting, carbon-intensive sectors to other sectors and firms. To shed light on adjustment costs for
Small is beautiful 2050: Europe’s digital economy as a mesh, not a hub
In response to digital dependence, Europe has decided to think bigger. This includes AI gigafactories, tripling data centre capacity, and searching for domestic champions. However,
At risk or responsive: Rethinking unemployment policy
Public services increasingly use predictive algorithms to direct scarce support towards those most at risk. But are these also the people who benefit most from
Ideas and firm dynamics when it takes two to tango
Innovation has increasingly become a team activity, while inventors have become more concentrated in large firms. This column argues that these trends are closely connected.
Worker-managed firms can curb inequality and protect free markets
Rising income inequality in Western high-income countries threatens democratic governance and social cohesion, and AI risks making it worse. Drawing on a forthcoming book, this
The adjustment of the Danish labour market to AI has begun
Policymakers are asking whether generative AI is reshaping labour demand, and the literature has found mixed results so far. This column links Denmark’s official IT-use
Bonding through crises with nonbank financial institutions
Nonbank financial institutions are often seen as procyclical lenders, cutting credit more sharply than banks during stress, while bond markets can substitute for bank lending
