One global shock, many inflation paths: Inflation persistence after the Great Moderation
The post-COVID inflation surge was global, but inflation persistence was not. This column argues that the key difference lies in how strongly external shocks fed
Making sense of conflicting labour market signals
Can policymakers rely on traditional labour market indicators when unemployment, vacancies, wages, and payroll growth appear to send conflicting signals? This column presents a new
How flexible work arrangements reshape mothers’ careers
Work from home expanded dramatically after the pandemic. This column presents evidence from Italy that this transformation may have reduced one of the most persistent
From European public goods to a European safe asset: A pragmatic roadmap
The search for a European safe asset has generated no shortage of proposals, but these proposals require, from the outset, a degree of mutual trust
Industrial policy, tariffs, and the return of global imbalances
Has the rise of industrial policy driven an increase in global current account imbalances? Can tariffs fix them? This column revisits these questions. Looking at
Global economy shows signs of steady but subdued growth: UN
The World Economic Situation and Prospects 2026 predicts that global economic output will grow by 2.7 percent this year. The global economy has shown resilience
Global economy set for 2.7% growth; trade tensions cloud outlook
Policymakers face an increasingly complex inflation landscape, where supply risks call for a more coordinated and forward-looking approach. Global economic output is forecast to grow
Global economy shows signs of steady but subdued growth: UN
The World Economic Situation and Prospects 2026 predicts that global economic output will grow by 2.7 percent this year. The global economy has shown resilience
Post-pandemic trends in extreme poverty around the world
Years of shocks and imbalanced recoveries have significantly impacted longstanding global poverty trends. In just the last five years, the economic pressures induced by the crises of
The EU fiscal framework undermines innovation and security
European member states may now exceed deficit limits if the borrowing finances defence. This column argues that this fiscal exemption is economically incoherent: it subsidises
