The use of sanctions has grown steadily over the past seven decades, with well-documented effects on bilateral trade. This column analyses the effects of sanctions
Supply chain disruptions have become a recurring feature of recent economic dynamics and an increasing concern in inflation policy discussions. This column argues that inflationary
A longstanding puzzle in monetary economics is that policy tightening has stronger effects than easing. This column shows that the multiplicity of financing constraints notably
The rise of generative AI has raised hopes that high-quality, personalised financial advice might finally become cheap and universally accessible. This column develops a method
Valuation losses can build quickly in response to higher interest rates, as demonstrated by the collapse of Silicon Valley Bank. This column shows that Italian
Real-time evidence from users can inform the current policy debates around artificial intelligence. This column reports on a survey of executives at typical US firms
Financial markets pay close attention to monetary policy, and surprise policy decisions can strongly affect asset prices and the real economy. This column shows that
Not all energy shocks are alike. This column uses a multi-country, multi-sector DSGE model with production networks and trade linkages to compare a Europe-centric regional