With the prospect of far-reaching decoupling of goods trade between China and the US, fears of deflection of Chinese exports to third markets have returned.
Safe assets are the building blocks of modern financial markets. This column examines the sectoral dynamics of safe assets across advanced economies since the 1980s.
Emerging markets with partially dollarised financial systems are particularly vulnerable to global financial cycles. This column examines how reserve requirements on foreign currency deposits can
The inflationary episode from 2021 to 2023 reignited the debate on the nonlinearity of the Phillips curve. Aggregate and city-level data indicate a non-linear relationship,
Against a backdrop of escalating geopolitical tensions and rapidly shifting global alliances, policymakers are advocating strategies such as ‘friendshoring’ to safeguard supply chain resilience. This
In submitting her updated budget proposal in March, Arizona Gov. Katie Hobbs lamented the rising costs of the state’s school vouchers program that directs public
The long-term effects of artificial intelligence are still unknown, as productivity benefits may be compromised by unintended costs. This column assesses the local effects of
Developing economies face a far more challenging international trade environment than they did at the start of the 21st century. Yet trade remains an essential