Credit default swaps: Analysis and policies
Credit default swap spreads have become critical benchmarks for credit risk assessment. A recent report from the European Systemic Risk Board, however, uncovers a range
How sanctions can help stabilise global oil supply
There were initial concerns that the introduction of the Russian oil price cap in 2022 would see Russia cut production, global oil supply fall, and
Geopolitics in the evaluation of international scientific collaboration
International collaboration is one of modern science’s quiet superpowers. Increasingly, it is also a geopolitical flashpoint. This column presents new experimental evidence that shows both
The work-from-home wage premium
Studies have found that workers typically value the option to work from home and are willing to accept sizable wage cuts in exchange for it,
Geopolitical risk and supply chain diversification
Geopolitical risks are reshaping global production, yet little is known about how firms reallocate their supply chains in response. Using parent-affiliate matched data on Japanese
Elevating the knowledge agenda for women entrepreneurs to boost jobs, growth, and access to finance
Women entrepreneurs represent a powerful yet largely untapped source of job creation and economic growth. Removing barriers faced by women entrepreneurs would significantly boost economic growth,
Trade risk and optimal trade policy: Lessons from food security
Geopolitical shocks and trade disruptions have made imports less reliable, especially for essential goods like food. This column outlines a framework where trade costs are
Peering beyond the veil of aggregate bank lending rate dynamics: Insights into credit-level pricing and composition effects
During the recent tightening and easing cycle, the aggregate bank lending rate to firms in the euro area increased by less than the rise in
Winners and losers from remote work: How firm capabilities impact productivity
Work from home is now a permanent feature of how firms organise production, yet its effects on productivity remain unclear. Using new data covering all
How the Fed makes decisions: Disagreement, beliefs, and the power of the Chair
Federal Open Market Committee statements typically sound unanimous, but the Committee’s internal debates rarely are. This column analyses historical meeting transcripts to show that policymakers
