Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of
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
There is a growing push from certain quarters for the European Commission to weaken merger control in order to spur greater investment and innovation, higher
The US trade deficits will have to be reduced materially to prevent a crisis down the road. This column argues that fiscal consolidation, in association
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