EU securitisation needs a more market-based approach
The EU is updating its regulations on securitisation, but it still has a long way to go if it wants to emulate the strengths of
The economic consequences of earthquakes: A tale from two datasets
Economic studies of earthquakes often rely on incomplete data, excluding lower-intensity events that can still cause disruptions. This column identifies the effects of earthquakes on
Wealth shocks tilt the balance toward self-insurance for long-term care
When older adults need paid long-term care, most rely on their own assets unless they hold private long-term care insurance or qualify for Medicaid. This
When loss strikes twice: Health shocks and household financial distress
While many advanced economies shield their citizens from the most severe direct medical costs of illness, less is known about how households cope with income
Labour market institutions for the AI era: The need for verified employment records
The rise of AI fundamentally alters the balance between formal credentials and verified experience in labour markets, but without verified employment records, experience remains invisible.
Wall Street bonuses expected to be highest in four years, consultancy says
Wall Street bonuses are expected to rise for the second year for traders and investment bankers on surging deal volume and market volatility, according to
Insuring labour income shocks: The role of the dynasty
Beyond government and market-based insurance, the family remains a key institution for coping with economic risk. This column uses detailed Norwegian data to study how
Transmission of liquidity shocks through non-bank financial intermediaries: Evidence from the International Banking Research Network
The role of non-bank financial intermediaries in funding markets and financial crises has increased in recent decades. This column examines the rise of the sector
Sovereign bonds, convenience yields, and the resurgence of supply shocks
Many sovereign bonds trade at a premium for being safe assets that retain their value even in deep recessions. This premium, or ‘convenience yield’, allows
Expanding private insurance for long-term care to reduce public spending
As populations age, the demand for long-term care will increase dramatically. This column argues that markets for long-term care insurance in the US have failed
