Pricing cascades: Inflation in a networked economy
The post‑pandemic inflation surge is often attributed to pent-up demand and opportunistic price hikes by firms. This column argues that the surge was not driven
European and Chinese exports kept growing despite the 2025 Trump trade shock
Diversification has kept global trade strong, despite Trump’s tariffs and accelerated US-China decoupling. One of the main ways in which the economic policies of the
Beyond carbon pricing: How different climate policies affect carbon leakage through trade
A central concern in the climate policy debate is whether ambitious mitigation efforts simply shift emissions abroad. This column addresses estimates carbon leakage rates and
FDI and growth in the age of global value chains
Existing evidence indicates that foreign direct investment promotes growth only when host economies have the human capital and deep financial markets to absorb spillovers. This
Beyond tariffs: A better approach to green industrial policy
Governments impose tariffs to protect domestic clean-energy industries and accelerate decarbonisation, but tariffs can increase the costs of deploying clean technologies. This column analyses the
How the global minimum tax amendments could reshape Europe’s tax incentives
This analysis offers estimates for EU countries of the possible impact of the ‘safe harbour’ update to the global minimum tax on corporate profits. An
Minimum wages and insurance within the firm
While much of the debate over minimum wages focuses on how they affect average pay levels or job losses, an equally important question is how
Multinational firms and global innovation
Multinational companies are at the heart of two key globalisation trends: the fragmentation of production and the internationalisation of innovation. This column studies the global
How resilient is Russia’s economy after four years of war?
Resilience in Russia’s 2022–25 economy is fading as war spending slows growth, entrenches inflation and amplifies structural fragilities. In 2022-2025 the Russian economy demonstrated resilience
Changing tariff treatment and the exports of developing countries
Recent changes in the tariff policies of the US and China are likely to affect developing countries in complex ways. This column argues that pre-existing
