Navigating the 2022 inflation surge: Lessons for monetary policy frameworks
The 2022 global inflation surge tested inflation-targeting frameworks under severe supply shocks. This column shows that, despite earlier and sharper tightening, inflation targeting central banks
Lessons from Denmark’s eight-hour workday reform
In recent years, calls for shorter working weeks have re-emerged in Europe and elsewhere. This column examines how Denmark’s 1919 shift to the eight-hour workday
How AI can help detect warning signs of financial market stress
Predicting financial market stress is a significant challenge, as traditional models often fail to capture complex and nonlinear dynamics. This column highlights two recent advances
Multi-issuer stablecoins: A threat to financial stability
Stablecoins – digital tokens pegged to fiat currencies – have emerged as a major innovation in crypto finance, with broad implications for payments and international
Transforming schools for better learning outcomes
Education is the pathway to jobs and the surest way out of poverty, empowering generations to drive economic growth. Yet, for many students, this promise
What Germany’s medium-term fiscal plan means for Europe
EU leniency on Germany’s fiscal plan highlights rule rigidity and the need for reform to support investment. Germany’s July 2025 medium-term fiscal-structural plan exposes the
Sustained growth through creative destruction: Nobel laureates Philippe Aghion and Peter Howitt
Philippe Aghion and Peter Howitt have been jointly awarded the 2025 Nobel Prize in Economic Sciences with Joel Mokyr ‘for having explained innovation-driven economic growth’.
The impact of fintech on lending
Fintech has improved efficiency and inclusion in banking, especially lending, but has also raised concerns about financial stability, privacy, discrimination, and overall wellbeing. This column
Communicating monetary policy by a committee: Echoes that move markets
Central banks rarely speak with one voice. At the Federal Reserve, for instance, each official brings a distinct perspective, and markets parse every speech for
Addressing food insecurity in the Middle East and North Africa: innovations in data monitoring
Food insecurity remains a critical issue affecting millions of people across the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP). The region faces a wide
