The Turkish central bank cut interest rates over 2021-2023, on the politically driven view that higher rates cause inflation. This column analyses the policies used
Predictions about the workplace impact of artificial intelligence often begin with what the technology can do captured by occupations’ exposure to AI. Using representative data
Firms in low- and middle-income countries persistently pay more to borrow than firms in high-income economies. Drawing on a new World Bank Group study of
Data show that trade sanctions reduce commerce between the countries imposing them and their targets. But this bilateral success can conceal a wider failure if
Many countries have adopted different price regulations to contain pharmaceutical prices, even in markets exposed to generic competition. This column documents subtle pricing patterns in
Governments around the world are increasingly mandating the digitalisation of business records, yet little is known about the effects of these policies beyond tax compliance.
The 2024 reform of the EU fiscal framework makes fiscal adjustment more country-specific and less procyclical. However, it does not eliminate two fundamental tail risks:
Households do not simply choose how much macroeconomic information to acquire; they choose among sources that differ in representativeness and credibility. Using a survey of
Students with the same test score can have considerably different academic ranks depending on their school peers. Using data from the Mexico City metropolitan area,