Inequality is a major concern for many economies, prompting the question of whether some regimes are more effective at reducing inequality than others. This column uses measures of welfare including health status and living space to show that, despite Soviet communism’s aim of radical egalitarianism, it failed to eliminate inequality as effectively as promised. While […]
Over the last decade, Europe has suffered from the decay of the post-war international order, economic coercion from both China and the United States, and aggression from Russia. This contribution puts these changes into a historical context, examines their short-term consequences, develops scenarios for 2030-2035 and uses these to draw out the policy implications for […]
Sunday morning store closures impose significant costs on consumers, but supporters of such ‘blue laws’ argue these rules protect workers, family life, and small retailers. This column uses GPS data to study the effects of lifting North Dakota’s strict Sunday morning retail ban in 2019. After the repeal, Sunday morning visits to Walmart stores rose […]
For the week, Brent is down 2.2% and WTI down 1.3%. Oil extended its decline into a third session on Friday, heading for a weekly loss for the first time in three weeks as expectations grow of higher supply and a surprise increase in U.S. crude inventories added to demand concerns. Reuters reported on Wednesday […]
Worldwide, air pollution is an “equal opportunity offender” impacting high-, middle-, and low-income countries. While low- and lower-middle-income countries bear the brunt of air pollution, middle- and upper-middle-income countries in Europe and Central Asia are also significantly affected. With growing urbanization, they face increasing public health impacts caused by dirty air. Across the region, in cities […]
Some of Europe’s ageing coal and gas fired power plants can look forward to a more high-tech future as big tech players, such as Microsoft and Amazon, seek to repurpose them as data centres, with ready-made access to power and water. Companies such as France’s Engie , Germany’s RWE, and Italy’s Enel are looking to benefit from […]
Fuel and carbon prices are typically assessed based on their effectiveness in reducing emissions, while their broader societal benefits often go overlooked. This column evaluates one of the world’s largest environmental tax experiments – Germany’s eco-tax reform – and finds that it led to sizable reductions not only in carbon emissions but also in harmful […]
It also sees the European Central Bank as having concluded its easing cycle. The dollar edged up against the euro and the yen, but remained within striking distance of Friday’s lows, after weak U.S. jobs data boosted bets on Federal Reserve rate cuts and triggered a sharp selloff in the greenback. Investors are awaiting services […]
After the June NATO summit, Europe faces greater challenges in funding its green, digital, and defence transitions, as new defence commitments strain national and EU budgets. Balancing strategic priorities with debt sustainability is key. This column proposes a three-pronged strategy of (i) using existing fiscal tools, (ii) adopting additional national measures, and (iii) building a […]
The 2022 Russian invasion of Ukraine marked an end to stability in Europe. This column analyses the economic effects for Ukraine, Russia, as well as spillovers on other countries, using professional forecast data from 29 nations. Forecasters predicted that the war would be highly stagflationary for Ukraine and Russia, lowering GDP and increasing the price […]
