The regulatory cycles view, according to which periods of deregulation encourage greater risk-taking and credit booms, which culminate in financial crises and are followed by
When Credit Suisse failed in March 2023, Swiss authorities, against market expectations, set aside the resolution plan and arranged a UBS takeover backed by public
The EU’s fiscal rules in force since 2024 are often criticised for their complexity. The official implementation requires thousands of lines of code and a
The EU Recovery and Resilience Facility was launched to support post-Covid recovery while accelerating structural transformation through investment and reform. This column provides a preliminary
Global imbalances are back in the policy debate. The persistence of large current account deficits and surpluses is again being discussed alongside trade tensions, industrial
Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral flows for 127 developing-country origins, this column finds the reverse:
Europe has devoted substantial resources to fostering innovation and AI diffusion, through both centralised EU initiatives and national programmes. This column combines an experiment on
Central banks are rethinking reserve portfolios as geopolitical fragmentation raises concerns about the accessibility of foreign-held assets, while dollar-funding stress keeps the US dollar at
The rapid expansion of high-speed internet has intensified concerns about how digital technologies affect early childhood. Using the staggered rollout of fibre optic to the
The EU’s Recovery and Resilience Facility has become a central test case for performance-based fiscal policy. Its experience offers lessons for the design of the