The financial sector and global dollar system
The current US administration’s approach to financial markets and institutions mixes familiar deregulatory policies with a range of other policies that are largely without precedent.
The new currency war: The US-China digital rivalry as a test of monetary discipline
Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of
Crypto, tokenisation, and the future of payments
The introduction of crypto technology and tokenisation is spurring changes in the financial system. Meanwhile, the Trump administration is taking steps to integrate crypto into
Dangling fiscal surveillance: EU fiscal policies in 2024
Effectively suspended since the onset of the Covid pandemic, the EU fiscal rules were set to make a comeback in 2024. At the same time,
Why some countries win in world trade: Unpacking export competitiveness
Global export competitiveness is rapidly evolving. This column presents a novel granular decomposition of export market share changes into demand and supply effects. Applied to
How central bankers speak about climate and what this means for financial markets
Central banks have increasingly engaged with climate-related topics in their public communication, but little is known about the drivers and effects of this shift. This
U.S. tariff of 15% on EU goods is all-inclusive, EU official says
The tariff framework will apply broadly to EU exports, except for steel and aluminium, the official said. The 15% rate will also apply to cars
Measuring what matters for business: The new B-READY data in the World Development Indicators
What makes a country a great place to start and grow a business? Among low-income economies across the world, only 29% have a single centralized
Bigger, better funded and focused on public goods: how to revamp the European Union budget
How should the European Union budget be revamped to meet the pressing collective challenges of climate change, competitiveness, defence, enlargement and response to unforeseen shocks?
Inflation targeting: Its current state and key challenges
Inflation targeting has emerged as the dominant monetary policy framework in advanced and emerging market economies. This column discusses three main challenges faced by inflation-targeting
