A view to a kill…ing of productivity: The allocative cost of war in Ukraine
Estimates of the cost of Russia’s war on Ukraine are dominated by what the war destroys. This column measures a second cost: the labour and
The Inflation Reduction Act’s regional incentives promoted green investment, but did not create jobs
The US Inflation Reduction Act’s Energy Communities provisions aimed to increase clean-energy investment in areas vulnerable to the energy transition, create jobs, and build political
Anatomy of a supervisory failure
For its entire 15-year life as a regional bank until its collapse in 2023, Silicon Valley Bank held the same risky bet. This column argues
Digitalisation and credit markets: Evidence from eInvoicing
Governments around the world are increasingly mandating the digitalisation of business records, yet little is known about the effects of these policies beyond tax compliance.
Alphabet raises $3.9 billion in inaugural Australian dollar bond
Alphabet has raised A$5.5 billion ($3.89 billion) via its inaugural Australian dollar debt issuance, according to a term sheet seen by Reuters, adding to the hectic
Oil gains on Middle East supply concerns amid impasse in US-Iran war
Oil prices climbed on Thursday on concerns the impasse in the U.S.-Israeli war against Iran will continue to disrupt supply from the key Middle Eastern
Commodity wealth demands a fiscal balancing act
Commodity booms are easy to celebrate but hard to manage. For resource-rich economies, commodity windfalls—if managed well—can finance investment, strengthen public finances and lift growth
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
Industrial policy in complementary markets: Lessons from India’s 4G rollout
Governments increasingly use protection and targeted subsidies to promote domestic firms. These policies are usually evaluated in the market they target. This column uses India’s
Firms slice up global production to protect their knowhow
Imitation is a first-order concern for enterprises operating global production processes. Firms routinely source knowledge-intensive inputs from many countries, including those with weak intellectual property
