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 2025 One Big Beautiful Bill Act raises the federal tax on private university endowment income sharply, with the top rate of 8% falling on
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
The large US tariffs announced in April 2025 led other countries to debate the best policy response. This column uses a multi-country model to study
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
Remote work has become a permanent feature of labour markets. It can reduce commuting costs, expand flexibility, and help firms recruit workers from a wider
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