EU barriers to scaling up: The case of fragmented product markets
European firms tend to be smaller and less productive than US firms. Qualitative and survey-based evidence suggests that one key reason is the remaining barriers
Tariff reciprocity and the True Cost of Protection Index
Effective tariff index comparisons are spotlighted in media reports on trade wars and trade talks. This column argues that the effective tariff index is inadequate
Tariffs and US dollar depreciations: Not so surprising after all
To many, the US dollar depreciation following the ‘Liberation Day’ tariff announcement on 2 April 2025 defied conventional wisdom. However, open-macro models predict that the
Recent patterns in global risk behaviour in financial markets
Following the US tariff announcements in early April, the US dollar strongly depreciated while US Treasury yields rose. This column zooms in on the April
EU jobs and US trade: Navigating change
Trade uncertainty between the EU and the US – driven by the announcement of new tariffs and a volatile global economy – has raised concerns
