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,
Rethinking the use of quantitative easing for macro stimulus
Quantitative easing has faced recent criticism for causing large central bank losses and contributing to the post-COVID inflation, raising the question of under what conditions
How higher pensions shape work after retirement: Lessons from Germany’s Earned Income Pension Credit
Can governments raise pensions for low-income retirees without discouraging them from working? Drawing on Germany’s Earned Income Pension Credit, this column finds that higher pension
The EU’s Recovery and Resilience Facility: Experience and lessons for the next multiannual financial framework
The EU’s Recovery and Resilience Facility has become a central test case for performance-based fiscal policy. Its experience offers lessons for the design of the
