The 2025 trade war: Dynamic impacts across US states and the global economy
In 2025, the US government announced a series of tariff increases targeting major trading partners, including Canada, China, and Mexico. This column estimates the economic
Fiscal stagnation
Public debt-to-GDP ratios have climbed to historic highs in most advanced economies. This column studies the connection between productivity growth, fiscal policy, and public debt.
Bridging the gap: revenue mobilization in South Asia
South Asia is grappling with significant fiscal challenges that affect its governments’ ability to provide essential public services. Although its tax rates are often higher
A window of opportunity: Trade as catalyst for India’s development
Vikhsit Bharat : This is the ambitious goal India has set itself of becoming a high-income country by 2047. But reaching this goal will require India
Tariffs and retaliation: A macroeconomic analysis
Implementation of the “Liberation Day” tariffs on the US’ trading partners would have far-reaching consequences for international trade patterns and the US and global economies.
How to manage the economic trade-offs of public procurement policies in developing economies
Government procurement—the process in which public entities buy goods and services from private companies—represents between 5% and 20% of a country’s GDP, depending on the
Sovereigns on thinning ice: debt sustainability, climate impacts and adaptation
A fundamental problem for sovereigns enacting climate policies is whether they can manage increasing debts as their economies suffer from adverse climate impacts. We develop
Agrifood powers economies and jobs across Europe and Central Asia
As economies develop, it is often assumed that agriculture becomes less relevant—a small slice of GDP and a shrinking share of employment. But evidence from
Agrifood powers economies and jobs across Europe and Central Asia
As economies develop, it is often assumed that agriculture becomes less relevant a small slice of GDP and a shrinking share of employment. But evidence
The unequal costs of carbon pricing in European regions
Carbon pricing has become a central tool in Europe’s strategy to mitigate climate change. This column presents new evidence on the impact of carbon pricing
