1+ hour, 2+ min ago  (656+ words) In 2024, immigrants accounted for about 13% of the population in the EU27. In the EU14 countries, where most immigrants live, the share of the population that is foreign-born rose from 12. 1% in 2015 to 15. 5% in 2024, corresponding to more than 12 million additional foreign-born residents. This means…...

12+ hour, 58+ min ago  (387+ words) Production networks fundamentally alter inflation dynamics under nominal rigidities. Sectors differ in price-setting behaviour and in their position within the network. When a tariff raises costs in upstream sectors " energy, basic materials, key manufacturing inputs " the increases cascade through the…...

1+ day, 12+ hour ago  (253+ words) While in this column we focus on banks, it is worth noting that non-bank financial institutions (NBFIs) also contribute to foreign currency funding risk. Estimates suggest sizable use of FX derivatives by the pension and insurance sectors, and NBFIs can…...

5+ day, 12+ hour ago  (259+ words) Table 1 Information on the Tokyo and Saitama ETSs Figure 1 Stage-specific result of ETSs Editor's note: The main research on which this column is based (Lu et al. 2025) first appeared as a Discussion Paper of the Research Institute of Economy, Trade…...

1+ week, 12+ hour ago  (453+ words) These effects are amplified for the most energy-intensive firms with energy costs above 5% of total costs (around one-third of firms). Among these firms, the net balance for higher prices rises to +68%, and for lower profit margins to "78%. The drag on…...

1+ week, 1+ day ago  (567+ words) We will follow a data-dependent and meeting-by-meeting approach to determining the appropriate monetary policy stance." (Christine Lagarde, 19 March 2026) Usually, the policy announcements by the ECB begin with the above disclaimer " which some might describe as meaningless. What else, if not…...

1+ week, 3+ day ago  (654+ words) Mitigating strategic vulnerability is a legitimate goal. However, the current policy debate has potentially tilted too far towards precaution. By focusing almost exclusively on how trade exposes nations to coercion, the de-risking narrative largely overlooks a powerful countervailing force: trade…...

2+ week, 2+ day ago  (224+ words) The US-Iran conflict and the mutual blockade of the Strait of Hormuz have upended decades of diplomatic stalemate, but may also have created an unexpected opening for a lasting deal. In this Policy Insight, Simon Johnson and Amir Kermani analyse…...

1+ week, 4+ day ago  (363+ words) Figure 1 Bivariate relationship between bond yields and the AI share of jobs The evidence is admittedly mixed. Firm-level data from Europe show productivity gains without negative employment effects (Aldasoro et al. 2026), pointing to capital deepening and augmentation as the dominant…...

1+ week, 4+ day ago  (249+ words) Figure 1 Real GDP (output-side, PPP-adjusted) for Iran and Turkey, 19602022 Given this asymmetry, where sanctions impose devastating costs on Iran but are nearly costless for the US, it is very difficult for any US administration to resist the temptation of reimposing…...