GECMagz

The macroeconomic impact of the Recovery and Resilience Facility: An analysis for Italy, Spain, and Greece

The EU Recovery and Resilience Facility was launched to support post-Covid recovery while accelerating structural transformation through investment and reform.…

3 days ago

How large current account imbalances unwind: Evidence from historical adjustment episodes

Global imbalances are back in the policy debate. The persistence of large current account deficits and surpluses is again being…

3 days ago

Trapped at home: Climate stress is more likely to immobilise the poor than to move them

Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral flows for 127 developing-country origins,…

4 days ago

Innovation without borders

Europe has devoted substantial resources to fostering innovation and AI diffusion, through both centralised EU initiatives and national programmes. This…

5 days ago

Dollar liquidity, gold reserves, and US monetary spillovers in a fragmenting world

Central banks are rethinking reserve portfolios as geopolitical fragmentation raises concerns about the accessibility of foreign-held assets, while dollar-funding stress…

1 week ago

High-speed internet and early childhood development: Causal evidence from a countrywide programme

The rapid expansion of high-speed internet has intensified concerns about how digital technologies affect early childhood. Using the staggered rollout…

1 week ago

The EU’s Recovery and Resilience Facility: Experience and lessons for the next multiannual financial framework

The EU’s Recovery and Resilience Facility has become a central test case for performance-based fiscal policy. Its experience offers lessons…

1 week ago

How households reason and behave when deposit rates become negative

How households behave in an environment with deposit rates below zero is important for monetary transmission, but the literature is…

1 week ago

Housing affordability is reshaping Europe’s social fabric

Housing affordability has moved to the forefront of Europe’s policy debate. Surveys, press reports, and protests across the EU suggest…

1 week ago

The impact of global sanctions on cross-border mergers and acquisitions

The use of sanctions has grown steadily over the past seven decades, with well-documented effects on bilateral trade. This column…

2 weeks ago