Business cycles in advanced economies are increasingly driven by global rather than domestic shocks. This column shows that global shocks now account for about half
The relationship between inflation and economic slack, shown by the Phillips curve, has long been a cornerstone of economic policymaking. A steep Phillips curve suggests
Political polarisation in the US has increased dramatically in recent decades, both among political elites (Gentzkow et al. 2019) and citizens (Fiorina and Abrams 2008).
The public debate about retail central bank digital currency (CBDC) has centred around a range of concerns. Some focus on the potential for competition and
As geo-economics tensions rise, researchers rush to understand how cross-border restrictions have been used in the past. This column constructs a new, publicly available, daily
The swift rise of artificial intelligence (AI) is reshaping production systems and raising fundamental concerns about the future of work (e.g. Korinek and Stiglitz 2019,
The 2022 inflationary spike in Europe has brought renewed interest in fiscal drag. Using harmonised microdata for 21 European countries, this column documents that the
Credit default swap spreads have become critical benchmarks for credit risk assessment. A recent report from the European Systemic Risk Board, however, uncovers a range