During the Greek debt crisis, zombie firms and non-performing business loans peaked at 20% and 50%, respectively. This column examines the negative effects of ‘zombie’ firms on investment, employment, and productivity during the crisis. The findings suggest that zombie firms have a negative impact on the economy through multiple channels, but highlight heterogeneities across sectors. […]
In many of the world’s most advanced economies, hyper-globalisation and technological shocks such as AI have made many people’s lives seem less secure. But the traditional way of monitoring pay via repeated one-off surveys has limited our understanding of the volatility of earnings, and thus insecurity. This column uses newly available data from Britain’s tax […]
Many European leaders express concern, or even dismay, that Europe is unable to launch and grow its own tech giants like those in the US . This reflects European insecurity about tech inferiority that goes back at least as far as France’s Plan Calcul in the 1960s. Europe wants the benefits that large, innovative firms create […]
