Financial globalisation has been a central feature of the world economy since the mid 1990s, leading to large holdings of cross-border assets and liabilities (Milesi-Ferretti
Several central banks, including the European Central Bank (ECB), are pursuing plans to potentially introduce a central bank digital currency (CBDC) alongside physical money. Such
History provides examples of large changes in the relative economic size of nations. Often these economic realignments coincide with heightened geopolitical tension. A historical example
Globalisation has been one of the key economic forces of the past half-century. It is credited with lifting millions of people worldwide out of poverty.
There is intense debate over the origins and implications of rising market power and declining business dynamism across developed economies. This column argues that a
Each financial crisis brings more financial supervision, more models and larger buffers – but still fragility persists. The paradox of perfect supervision is that the
The recent high-inflation episode generated renewed interest among monetary policymakers and academics about the slope of the Phillips curve and potential non-linearities in price-setting behaviour
While artificial intelligence offers substantial benefits to society, including accelerated scientific progress, improved economic growth, better decision making and risk management and enhanced healthcare, it
The rapid growth of cryptocurrency markets has created new challenges for financial regulators and policymakers. With total crypto capitalisation in excess of $3 trillion, understanding
The Trump administration’s sweeping tariff measures are intended to increase the competitiveness of US firms – especially in high-tech sectors – and reduce US trade