Why EU innovation policy fails to promote disruptive innovation
Europe’s long-term prosperity depends on its ability to generate and absorb disruptive innovation. This column argues, however, that the European Commission’s proposed 2028–2034 Multiannual Financial
Reforming international taxation: Balancing profit shifting and investment responses
The global minimum tax represents the most ambitious international effort in decades to curb profit shifting to tax havens. But how much profit shifting actually
The Promise and Policy Implications of the 30×30 Initiative for Global Biodiversity Conservation
Biodiversity is declining at unprecedented rates, undermining the foundations of human survival and prosperity. Healthy ecosystems provide food, clean water, and climate stability, yet a major
Efficiency and distribution in the European Union’s digital deregulation push
A new framework shows how EU digital reforms must balance efficiency with transparent recognition of distributive consequences. To boost the European Union’s digital economy, the European
Assessing the Commission’s Multiannual Financial Framework proposal: First-order principles
Since the European Commission’s 2028-34 Multiannual Financial Framework proposal in July, much has been written about its ambitions, the levels of funding involved, and its
Monetary policy transmission through cross-selling banks
When central banks raise or lower policy rates, banks typically pass these changes through only incompletely to the interest rates they pay on customer deposits.
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
