Financial markets pay close attention to monetary policy, and surprise policy decisions can strongly affect asset prices and the real economy. This column shows that
Not all energy shocks are alike. This column uses a multi-country, multi-sector DSGE model with production networks and trade linkages to compare a Europe-centric regional
Remote work has become a permanent feature of labour markets. It can reduce commuting costs, expand flexibility, and help firms recruit workers from a wider
The fiscal dominance view holds that politically captured central banks are more likely to be pushed into taking risky positions, while independent ones resist. This
As tensions rise between major powers and the global trading system becomes more contested, policymakers often frame the choice they face starkly: either deeper centralised
Trade policy has become a major source of macroeconomic risk. The sharp rise in trade restrictions and the growing unpredictability of trade rules are reshaping
Private capital markets have expanded rapidly, but access remains concentrated among wealthy investors. This column presents new evidence from the US which shows that high-net-worth
Bilateral trade shocks may reallocate demand and competition across countries, creating spillovers for firms in bystander countries. To study how firms respond to trade shocks
As global trade policy becomes increasingly protectionist, the threat of tariff retaliation looms large. This column analyses how the EU’s 2018 response to US steel