Making markets work: The role of effective public institutions in enabling private sector growth and development
Of the roughly 3.74 billion people in the global workforce, about 400 million, or 11 percent, work in the public sector. These are the people who deliver essential services,
Fiscal unsustainability and capture: $40 trillion Treasury debt does not measure the risks; enhanced long-term repurchases don’t improve them
US federal government debt exceeded $40 trillion in August 2026, triggering concerns about fiscal credibility and sustainability. This column argues that fiscal sustainability should be
The implications of climate change for monetary policy
Climate change and the transition to net zero are reshaping the macroeconomy, with important implications for monetary policymakers’ core price-stability objectives. As physical hazards become
A nascent international financial channel of China’s monetary policy transmission
China is the world’s second-largest economy, and its monetary policy can affect global demand and trade. Using granular mutual fund data, this column finds that
Europe’s productivity is more dynamic than aggregate statistics suggest
Aggregate productivity growth in Europe has disappointed over the last two decades, fuelling concerns about competitiveness. This column argues that firm-level evidence points to a
Europe’s regulatory double bind
The European Union’s AI Act – the world’s most ambitious regulatory framework for artificial intelligence to date – was supposed to enter into full effect
The exorbitant privilege of the periodic table
Trade in critical metals essential for electrification has become centred on China over the last three decades. This column introduces a new framework in which
AI feedback loops and the conditions for explosive growth
If frontier AI models can be used to develop their next models, this may lead to an ‘intelligence explosion’ and give a large boost to
The anatomy of job polarisation: Evidence from four decades of French worker flows
Employment polarisation – the decline of middle-skill routine occupations relative to both ends of the skill distribution – is usually documented from repeated cross-sections. However,
How Amazonian rangers are building better jobs on the frontline of conservation
Every year on July 31, World Ranger Day offers us a moment to celebrate the people standing on the frontlines of nature. This year’s theme,
