The postwar international order is no longer functioning as its architects intended. Rules remain, but their authority has weakened. Institutions remain, but their capacity to
The dollar’s role as the world’s reserve currency has been blamed for an overvalued exchange rate that hollows out US manufacturing. This column quantifies what
Occupational licensing has become an increasingly important topic in labour market policy. Governments across advanced economies are debating whether licensing requirements unnecessarily restrict entry into
Oil price shocks do not simply make conflict more likely everywhere; they change where violence happens. Using monthly georeferenced data for 131 low- and middle-income
There is growing evidence that place-based industrial policies lead to positive economic effects. This column analyses the “Million-Rouble Plants” programme of the 1950s when the
Globalisation has changed economic research profoundly, making it more comparable, more competitive, and thoroughly quantitative. This column argues that AI may unsettle this new order
The regulatory cycles view, according to which periods of deregulation encourage greater risk-taking and credit booms, which culminate in financial crises and are followed by
When Credit Suisse failed in March 2023, Swiss authorities, against market expectations, set aside the resolution plan and arranged a UBS takeover backed by public