Bank recapitalisation versus firm support: A fiscal criterion for crisis policy
Governments routinely invest in private firms. This column argues that these investments have powerful effects on an economy’s crisis resilience, and that those effects depend
House prices in big cities cannot be expected to come down any time soon
House prices have increased sharply in many advanced economies, often leading to populist revolt and social crises. This column argues that agglomeration externalities foster urbanisation
Macro-financial disconnect in the euro area: Assessing tail risks to euro area growth and equities
The euro area is experiencing a combination of low growth and persistently high policy uncertainty, but financial conditions are remarkably supportive and valuations now look
Digital economy set to hit $28trln next year: report
Together, these DCO digital economy tools enable governments, industry leaders, civil society, and international partners to focus on their digital strategies. The global digital economy
Brexit’s slow‑burn hit to the UK economy
The UK is once again debating why its economy has grown slowly since the mid‑2010s. This column examines the impact of the decision to leave
The political economy of climate policy: Evidence from the American Clean Energy and Security Act
Comprehensive national climate legislation remains elusive in the US. Linking district-level employment to roll-call behaviour in the 2009 House vote on the American Clean Energy
Trailing with a margin: Official macro forecasts in EU fiscal surveillance
Budgetary planning in the euro area involves a codified interaction between national governments and the European Commission where economic and fiscal forecasts play a crucial
Energy transition achievable in emerging markets
Climate finance as a percentage of GDP will likely be the largest in South Africa, at 0.25 per cent, followed by India (0.13 per cent)
What will it take to stabilise debt in advanced countries?
Debt can be stabilised across advanced economies yet many face sizeable fiscal adjustments and rising vulnerability to market shifts. This paper analyses the prospects for
Continued growth despite a challenging environment: The Commission’s Autumn 2025 Forecast
The EU economy grew stronger than expected in recent quarters and all member states are set to return to growth in 2025. Modest but steady
