The 2024 reform of the EU fiscal framework makes fiscal adjustment more country-specific and less procyclical. However, it does not…
Households do not simply choose how much macroeconomic information to acquire; they choose among sources that differ in representativeness and…
Students with the same test score can have considerably different academic ranks depending on their school peers. Using data from…
In 2008, the US stock market was worth $3 trillion more than the combined European stock market; in 2023, the…
How large is the labour cost saved by AI, and how is it distributed across occupations? Using five waves of…
China is the world’s second-largest economy, and its monetary policy can affect global demand and trade. Using granular mutual fund…
Aggregate productivity growth in Europe has disappointed over the last two decades, fuelling concerns about competitiveness. This column argues that…
Housing shortages and rising rents have become a source of political pressure in many countries, prompting calls for stronger intervention…
Governments increasingly use protection and targeted subsidies to promote domestic firms. These policies are usually evaluated in the market they…
Imitation is a first-order concern for enterprises operating global production processes. Firms routinely source knowledge-intensive inputs from many countries, including…