GECMagz

Climate change, firms, and aggregate productivity

Policy debates around climate change frequently focus on the trade-off between the near-term costs of reducing carbon emissions and the…

8 months ago

US dollar stablecoin mercantilism is an opportunity to promote payment multilateralism and the international role of the euro

The EU and the US have taken starkly different approaches to the regulation of new monies issued using distributed ledger…

8 months ago

Too much of a good thing: The role of the global US dollar

The role of the US dollar is much in the news because confidence in it has been shaken by erratic…

8 months ago

Campaign promises as political coupons: Future benefits sway – but don’t retain – voters

Politicians often wager their campaigns on big-ticket promises. Donald Trump rode to power in 2016 vowing to build a US–Mexico…

8 months ago

The value added tax paradox in resource-dependent economies

The introduction of value added taxes has been widely perceived as successful, boosting government revenue and stimulating industrialisation. This contrasts…

8 months ago

Keeping an eye on budgetary forecasts: The new Forecast Tracker of the Secretariat of the European Fiscal Board

Forecasts play a pivotal role in fiscal policymaking. They are not simply attempts to predict the future but critical instruments…

8 months ago

Rethinking exchange rate flexibility in the post-Bretton Woods era: Evidence from a new index

While the collapse of the Bretton Woods system in 1973 has traditionally been seen as heralding a major shift towards…

8 months ago

The decline in non-tariff barriers to services trade and euro area competitiveness

Services are becoming increasingly important in global trade. This column shows that strong growth in services trade was driven by…

8 months ago

Liquidity crisis support made in Switzerland and the too-big-to-fail subsidy

Banking crises have repeatedly inflicted serious damage on the real economy. This column discusses a new proposal for a public…

8 months ago

Borrowing hand over fist at Aa1

Moody’s downgraded the US Treasury from top notch by one notch. This second in a series of three columns describes…

8 months ago