The fiscal dominance view holds that politically captured central banks are more likely to be pushed into taking risky positions,…
As tensions rise between major powers and the global trading system becomes more contested, policymakers often frame the choice they…
Trade policy has become a major source of macroeconomic risk. The sharp rise in trade restrictions and the growing unpredictability…
Private capital markets have expanded rapidly, but access remains concentrated among wealthy investors. This column presents new evidence from the…
As women gain political ground around the world, there is hope that the election of more women might also mean…
Bilateral trade shocks may reallocate demand and competition across countries, creating spillovers for firms in bystander countries. To study how…
As global trade policy becomes increasingly protectionist, the threat of tariff retaliation looms large. This column analyses how the EU’s…
Governments with well-designed fiscal rules generally enjoy lower yields but less is known about whether investors price compliance with these…
How much has trade policy changed globally? This column introduces the Trade Policy Activity Index, a monthly measure of policy…
Emerging market economies hold foreign exchange reserves to insure against currency crises and to cushion exchange rate movements. Reserves are…