When travel restrictions became trade frictions: Evidence from Covid-era border closures
Covid travel restrictions limited movement of people but also made cross-border goods trade more difficult. This column uses a structural gravity model on global trade
G7 leaders pledge to enhance efforts to address global debt vulnerabilities
G7 leaders eye debt issues faced by middle-income countries. G7 leaders on Tuesday pledged to step up efforts to address high debt burdens among developing
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
