Understanding how foreign shocks affect economies has become a policy priority. Using domestic firm-to-firm transaction data matched with customs records, this column shows that Italy’s
As the US and EU push forward with drug-pricing reforms, the topic has moved to the centre of political debate. This column shows how national
Green debt has become a defining feature of sustainable finance, as firms and investors seek to align capital with climate goals. This column documents the
Euro area insurers are among the largest institutional investors in the financial system. Managing several trillion euros in assets, their total assets amount to about
The global minimum tax represents the most ambitious international effort in decades to curb profit shifting to tax havens. But how much profit shifting actually
While globalisation has increased productivity and incomes around the world, extensively linked value chains have introduced new vulnerabilities (Baldwin et al. 2023). ‘Geoeconomics’ — in
Textbook monetary economics views inflation as fundamentally driven by aggregate shocks, such as money supply or policy rates. This column presents empirical evidence that inflation
Artificial intelligence differs from other technological advancements in finance, such as the initial adoption of computers and automatic trading systems. As Norvig and Russell (2021)
Industrial raw materials such as nickel, cobalt, and rare earths are critical inputs in countless production processes, including renewable energy, lithium batteries, and permanent magnets.
As European governments scale up investment, bond market stability is more critical than ever. This column shows that financial fragmentation can undermine that stability by