Chat Bankman-Fried: An experiment on LLM ethics in finance
As large language models gain traction, it is important to ensure that decisions delegated to them comply with ethical and legal principles. This column reports
From battlefield to market: How disruptions in Ukraine affected grain price trends
Commodity price spikes at the outset of Russia’s full-scale invasion of Ukraine contributed significantly to global inflation in 2022-23, which caught many policymakers off guard
The Federal Reserve, the new administration, and the outlook for the economy and monetary policy
The new US administration has made the Federal Reserve’s monetary policymaking more complicated both because of the elevated uncertainty regarding administration policies and because of
Information and the labour market
Workers often remain in their jobs even when they know they may get higher wages elsewhere, raising questions about the effectiveness of pay transparency laws.
When beliefs shape policy outcomes: Lessons from preferential college admissions in Chile
Preferential college admission is gaining traction worldwide as a means to address inequality in higher education, drawing greater attention to the design of such policies.
Adjusting productivity for carbon emissions: A new perspective on the growth slowdown
Productivity growth has been lacklustre over the past 20 years in most advanced economies. But standard productivity measures ignore the progress that some economies have
Revisiting the consequences of job displacement
Decades of research have confirmed that job displacement causes significant and persistent earnings losses. This column presents new evidence from workers displaced during firm closures
Globalization and the reform of European social models
Combining product and capital market reforms at EU level with labour market and social policies at national level would be desirable, particularly within the euro
Global shocks, institutional development, and trade restrictions: Learning from crises and recoveries between 1990 and 2022
During the past 20 years, the world economy has suffered two major crises in the form of the Global Financial Crisis and the COVID-19 pandemic.
Filtering labour market data optimally to detect recessions early and accurately
The timely detection of recessions is critical for policymakers to make informed decisions. This column presents an algorithm for detecting recessions early using labour market
