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
How households behave in an environment with deposit rates below zero is important for monetary transmission, but the literature is scant. This column studies household
Housing affordability has moved to the forefront of Europe’s policy debate. Surveys, press reports, and protests across the EU suggest that housing is increasingly seen
The use of sanctions has grown steadily over the past seven decades, with well-documented effects on bilateral trade. This column analyses the effects of sanctions
Supply chain disruptions have become a recurring feature of recent economic dynamics and an increasing concern in inflation policy discussions. This column argues that inflationary
A longstanding puzzle in monetary economics is that policy tightening has stronger effects than easing. This column shows that the multiplicity of financing constraints notably