The motives for the accumulation and management of foreign exchange reserves are a key topic in international economics. This column highlights an aspect of the
Across advanced economies, workers have been receiving a smaller share of national incomes. This column compares the evolution of labour’s share of income in Europe
Europe exports a large surplus of savings outside the continent each year. This column argues that this should not be interpreted as a capital ‘flight’:
Geopolitical risk has become a key driver of macroeconomic fluctuations in the euro area, particularly since Russia’s invasion of Ukraine and, more recently, the escalation
A landmark shift in the international corporate tax system is taking shape. The introduction of a 15% global minimum tax aims to reduce profit shifting
A central weakness of modern machine-learning systems is that performance tends to deteriorate outside the support of the training distribution. This column uses a tournament-style
Productivity gains from AI are expected to be significant, but how international trade shapes the cross-country distribution of these gains remains an open question. This
Despite significant progress in fighting corruption since 2014, corruption perceptions in Ukraine are extremely high, while the government’s willingness to fight it is seen as
The main obstacle to market efficiency is whether investors can read, process, and quickly extract genuinely new information from articles. This column uses large language