Stanley Fischer and the Annual Bank Conference on Development Economics: A tribute
Stanley Fischer, the World Bank’s chief economist from January 1988 to August 1990, passed away on May 31, 2025. Stan Fischer’s immense professional contributions to
Basel endgame: Bank capital requirements and the future of international standard setting
Since the 1970s, banking regulators have worked to set minimum standards for internationally active banks. The latest agreement, Basel III, was introduced following the 2008
Detecting hidden state aid with machine learning
State aid regulation is crucial to ensuring competitiveness in the EU Single Market, but enforcement remains challenging. Non-compliance by member states and foreign subsidies are
The supply side of monetary policy: How floating-rate loans blunt the ECB’s fight against inflation
Central banks raise interest rates to reduce aggregate demand and bring inflation down. This column uses credit register data and product-level price data from the
Interlocking directorates and competition in banking
The presence of directors on the boards of competing firms (‘interlocking directorates’) raises concerns about collusion. This column studies the Italian corporate loan market and
Early job mentoring, placement, and training boost refugee integration without high costs
The number of people fleeing war and persecution worldwide has nearly tripled since the early 2010s, challenging European policymakers to ensure swift integration of asylum
What does it mean to live in a country that is 0.517 poor?
According to the UNDP’s Global Multidimensional Poverty Index (MPI), the Republic of Chad has a poverty score of 0.517. But what does this number mean? Is it
The macroeconomic effects of introducing a central bank digital currency
Central bank digital currencies are gaining traction as a potential innovation in central banking, with numerous countries considering their implementation. However, given the limited real-world
How firms navigate parental leave: Evidence from Austria
Faced with declining fertility rates and persistent gender gaps, governments have expanded policies to support working families. But sudden increases in allowable parental leave can
US dollar stablecoin mercantilism is an opportunity to promote payment multilateralism and the international role of the euro
The EU and the US have taken starkly different approaches to the regulation of new monies issued using distributed ledger technology. The current US administration
