Climate-related risks are increasingly recognised as an important threat to long-term fiscal sustainability. This column studies the extent to which credit rating agencies integrate these
Global export competitiveness is rapidly evolving. This column presents a novel granular decomposition of export market share changes into demand and supply effects. Applied to
Workers often remain in their jobs even when they know they may get higher wages elsewhere, raising questions about the effectiveness of pay transparency laws.
Digital currencies pegged to fiat money face a built-in tension between credibility and competition, creating a ‘stablecoin paradox’. This column analyses the competing frameworks of
The new US administration has made the Federal Reserve’s monetary policymaking more complicated both because of the elevated uncertainty regarding administration policies and because of
There is a growing push from certain quarters for the European Commission to weaken merger control in order to spur greater investment and innovation, higher
The US trade deficits will have to be reduced materially to prevent a crisis down the road. This column argues that fiscal consolidation, in association
Productivity growth has been lacklustre over the past 20 years in most advanced economies. But standard productivity measures ignore the progress that some economies have
Financial markets are volatile, with extreme fluctuations ranging from the post-COVID bull run and the meme stock surges of 2021 to the boom-bust cycles of
Since 2013, synthetic opioid overdoses have surged in the US, claiming over 70,000 lives each year. This crisis has had international spillovers, reigniting drug-related violence
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