Governments with well-designed fiscal rules generally enjoy lower yields but less is known about whether investors price compliance with these rules. Using a panel of
How much has trade policy changed globally? This column introduces the Trade Policy Activity Index, a monthly measure of policy changes across 197 economies since
Emerging market economies hold foreign exchange reserves to insure against currency crises and to cushion exchange rate movements. Reserves are generally associated with lower sovereign
Supplemental private health insurance is becoming more common in universal healthcare systems as a way to secure faster access to specialists, diagnostics, and elective care.
Dementia affects an estimated 6 million Americans, and is the leading cause of neurological disability and the third leading cause of overall disability among older
Digital payment systems promise to extend financial services to people underserved by banks, and overcoming barriers to the adoption of such systems is thus central
The post-COVID inflation surge was global, but inflation persistence was not. This column argues that the key difference lies in how strongly external shocks fed
Shale gas was initially hailed as a “revolution”, but the vast amounts of US natural gas production made possible by hydraulic fracturing and what this
Real-time assessments of inflation expectations can be valuable for assessing the inflation outlook. This column decomposes inflation swaps for the US, UK, and euro area